)
Edge28 Nov 2025
Keeping the Streak Alive: The Story of Duolingo
How Duolingo made language learning addictive, scaled to millions of users, and built a powerful subscription business around everyday practice.
B2Gold (BTO) investor relations material
B2Gold Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Achieved strong operational and financial results in Q3 2025, with Fekola, Masbate, and Otjikoto mines exceeding production expectations and delivering lower than expected cash operating costs per ounce.
Gold production reached 254,369 ounces in Q3 2025, with all major mines exceeding expectations and Goose Mine commencing high-grade underground ore production.
Goose Mine reached commercial production three months after first gold, though Q3 output was impacted by crushing capacity shortfalls and delayed access to higher-grade ore.
Net income attributable to shareholders was $19 million ($0.01 per share), while adjusted net income was $180 million ($0.14 per share).
Confident in ongoing operations in Mali despite political challenges, with no mining interruptions and continued government and international support.
Financial highlights
Q3 2025 gold revenue was $782.9 million, including $144 million from gold prepay deliveries.
Adjusted net income for Q3 2025 was $179.9 million ($0.14 per share); GAAP EPS was $0.01.
Cash operating costs per gold ounce produced were $780, down from $1,061 in Q3 2024.
Operating cash flows reached $171 million ($180 million before working capital adjustments).
Cash and cash equivalents stood at $367 million at quarter-end.
Outlook and guidance
Annual gold production expected to be around 1 million ounces in 2025, with Fekola, Masbate, and Otjikoto guidance at 890,000–965,000 ounces; Goose Mine guidance revised to 50,000–80,000 ounces.
Fekola Complex expected to produce 515,000–550,000 ounces in 2025; Masbate 190,000–210,000 ounces; Otjikoto 185,000–205,000 ounces.
Goose Mine 2026 forecast is 250,000 ounces, 2027 forecast is 330,000 ounces, and average annual production of 300,000 ounces for the first six years.
Consolidated cash operating cost guidance for Fekola, Masbate, and Otjikoto is $740–$800/oz; Goose Mine post-commercial production costs revised to $2,300–$2,360/oz.
No changes to long-term cost guidance for Goose; Q4 costs elevated due to ramp-up but not indicative of future costs.
Goose Mine: Path to sub-$1,400 AISC
Gramalote: Key milestones for 2026/2027 decision
Fekola Regional: Remaining steps for permit?
Goose permanent crushing solution details
Fekola regional permit: why the delays?
Antelope project's return on investment?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next B2Gold earnings date
Q4 202519 Feb, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
B2Gold Corp is a gold producer with mining operations in Mali, Namibia, and the Philippines, along with exploration projects in various jurisdictions. The company engages in gold production, development, and exploration through wholly owned and joint venture assets. The company is headquartered in Vancouver, Canada, and its shares are listed on the TSX.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage