July 10, 2012 / 1:18 PM / 6 years ago

UPDATE 1-B2Gold expects production to rise over next two years

July 10 (Reuters) - B2Gold Corp’s second-quarter production was nearly flat but the Canadian gold producer expects output to increase over the next two years as ore grade improves.

The company, which has two mines in Nicaragua , expects to produce 185,000 ounces of gold in 2013 and 200,000 ounces in 2014.

Cash costs are also expected to improve, the company said in a statement.

The company produced 36,803 ounces of gold in the quarter, up slightly from 36,760 ounces a year earlier.

Gold revenue rose 5 percent to $57.3 million. Average realized gold price in the quarter rose 6 percent to $1,599 per ounce.

B2Gold continues to expect production of about 150,000 ounces to 160,000 ounces of gold for the year, at a cash cost of about $590 to $625 per ounce.

Shares of the company, which has a market value of about C$1.25 billion, closed at C$3.34 on Monday on the Toronto Stock Exchange.

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