03:54 PM EDT, 10/11/2018 (MT Newswires) -- B2Gold (BTO.TO) was up 6.6% after the company on Thursday said its third-quarter gold production climbed to a record 242,040 ounces and the company raised it production guidance for its Masbate mine in the Philippines.

The company said the record production was up 78% from 106,742 ounces in the third quarter of 2017. Revenue more than doubled to US$324 million from US$154 million.

The gains came on new contributions from the company's Fekola mine in Mali, which began commercial production on November 30 of last year.

It also said the Masbate mine has been producing above target and raised its output guidance for the project to around 205,000 ounces from 185,000. However it offset those gains with weaker than expected output from its La Liberdad mine in Nicaragua, where guidance was cut to around 92,500 from 117,500 ounces.

Shares in B2Gold were last seen up $0.21 to $3.39 on the Toronto Stock Exchange.

Price: 3.32, Change: +0.14, Percent Change: +4.40