UPDATE 1-B2Gold reports Q4 profit as gold production surges

* Q4 adj EPS $0.05 vs adj loss/shr $0.02 last year

* Q4 gold revenue surges to $47 mln from $3.5 mln

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March 31 (Reuters) – Gold producer B2Gold Corp
reported a fourth-quarter profit on higher gold production at
the company’s La Libertad Mine in Nicaragua.

For the October-December quarter, the company posted an
adjusted net income of $15.5 million, or 5 cents per share,
compared with an adjusted loss of $3.7 million, or 2 cents a
share, last year.

Gold revenue for the fourth quarter rose to $47 million on
sales of 34,039 ounces, compared with $3.5 million on sales of
3,211 ounces, in the same period last year.

La Libertad Mine, which began production on Feb 1 last
year, accounted for $34.4 million of gold revenue from the sale
of 24,865 ounces, while $12.6 million was contributed by its
other Nicaraguan property, Limon Mine, from the sale of 9,174
ounces.

The average realized gold price in the quarter was $1,381
per ounce, $277 higher than in 2009. The spot gold price average
was $1,367 per ounce.

Vancouver, British Columbia-based B2Gold’s shares were
trading up about 4 percent at C$3.01 on Thursday morning on the
Toronto Stock Exchange.
(Reporting by Amruta Sabnis in Bangalore; Editing by Jarshad
Kakkrakandy)

UPDATE 1-B2Gold reports Q4 profit as gold production surges