Welcome to our dedicated page for B2Gold news (Ticker: BTG), a resource for investors and traders seeking the latest updates and insights on B2Gold stock.
B2Gold Corp., headquartered in Vancouver, Canada, is a prominent international gold mining company. Established in 2007, B2Gold has rapidly ascended to become one of the fastest-growing intermediate gold producers globally. The company's portfolio includes four operating mines and numerous exploration projects spread across four continents, including significant activities in Nicaragua, the Philippines, Namibia, Mali, and Burkina Faso.
B2Gold's core business revolves around the acquisition, exploration, and development of mineral properties, primarily focusing on gold deposits. This focus is evident in their four operational mines: the Fekola Mine in Mali, the Masbate Mine in the Philippines, the Otjikoto Mine in Namibia, and the Goose Project. Additionally, the company is advancing its construction efforts at the Fekola Mine in southwest Mali, which is on schedule and within budget, with production expected to commence by the end of 2017.
With an emphasis on maintaining a low-cost structure, B2Gold is well-positioned to achieve significant growth, targeting an annual gold production of approximately 800,000 to 850,000 ounces by 2018, while simultaneously reducing production costs. This strategic approach ensures the company’s financial stability and continual expansion.
B2Gold’s diverse assets also include the Gramalote and Kiaka projects, further solidifying its reputation as a leading player in the gold mining industry. The company operates without dependency on any specific purchaser, as its gold production is sold in the global market, ensuring robust revenue streams.
Recent achievements and ongoing projects highlight B2Gold’s commitment to sustainable development and operational excellence. The company's dedication to growth and innovation is evident in its increased production targets and declining costs, making it a significant entity in the global mining sector.
For more information or to contact B2Gold Corp., please visit their corporate website.
B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) has announced an update for the Goose Project in Nunavut, Canada. The project remains on track for first gold production in Q2 2025, with commercial production expected in Q3 2025. The estimated total Construction and Mine Development Cost before first gold production has increased by 23% to C$1,540 million. This increase is attributed to a one-quarter delay in production, acceleration of capital items, and increased logistics costs. The company anticipates annual gold production of approximately 310,000 ounces over the first full five years once in commercial production. B2Gold maintains a strong financial position with a working capital balance of $600 million and access to a $700 million revolving credit facility.
B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) has reached an agreement with the State of Mali regarding the operation and governance of the Fekola Complex. Key highlights include:
1. Expedited approval for Fekola Regional and Fekola underground exploitation permits.
2. Fekola Mine to continue under the 2012 Mining Code until 2040.
3. Fekola Regional to be governed by the 2023 Mining Code.
4. Settlement of outstanding tax and customs disputes.
5. Distribution of retained earnings to the State and conversion of its 10% ordinary share to preferred shares.
6. Expected additional gold production of 80,000-100,000 ounces per year from Fekola Regional starting in early 2025.
7. Initial gold production from Fekola underground expected in mid-2025.
The agreement provides a framework for future operations and resolves past issues, setting the stage for continued growth and development of the Fekola Complex.
B2Gold Corp. reported its Q2 2024 results, highlighting a total gold production of 212,508 ounces, including 8,267 ounces from Calibre Mining. The company faced equipment issues at the Fekola Mine, resulting in lower production but expects improvement by Q3 2024.
Total consolidated cash operating costs were $839 per ounce, at the low end of the guidance range, and all-in sustaining costs were $1,267 per ounce. The updated 2024 gold production guidance is between 800,000 and 870,000 ounces due to delays in mining higher-grade ore.
B2Gold reported a net loss of $0.02 per share due to a non-cash impairment of the Fekola Complex but adjusted net income was $0.06 per share. Operating cash flow before working capital adjustments was $192 million.
The company declared a Q3 2024 dividend of $0.04 per share. B2Gold successfully completed key construction for the Goose Project, scheduled for gold production by Q2 2025, and released a positive PEA for the Gramalote Project with an NPV5% of $778 million and an IRR of 20.6%.
B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) has announced the release date for its second quarter 2024 financial results. The results will be made public after North American markets close on Thursday, August 8, 2024. Following this, the company will host a conference call to discuss the results on Friday, August 9, 2024, at 8:00 am PT / 11:00 am ET.
Participants can register for the call using a provided link, which will give them direct access to the conference. Alternatively, they can dial in using toll-free numbers for U.S. and Canada or international numbers. The call will be available for playback for two weeks after the event.
B2Gold has announced the results of its 2024 Annual General and Special Meeting held on June 20, 2024. At the meeting, 64.75% of all outstanding common shares, totaling 845,972,994 shares, were voted.
All proposed items were overwhelmingly approved by shareholders. The eight nominated directors, including Kevin Bullock, Kelvin Dushnisky, Clive Johnson, Liane Kelly, Jerry Korpan, Thabile Makgala, Lisa Pankratz, and Robin Weisman, were elected.
Additionally, PricewaterhouseCoopers LLP was appointed as the company's auditor, and resolutions concerning the Stock Option Plan and the Advisory Vote on Executive Compensation were approved with 97.20%, 95.92%, and 96.47% support, respectively. The complete voting results are available on Sedar+.
B2Gold Corp. (BTG) has sold 79,000,000 common shares of Calibre Mining Corp., generating C$139.04 million in gross proceeds through a block trade. This transaction reduces B2Gold's ownership in Calibre from 14.1% to less than 10%, meaning it is no longer a 'reporting insider' under National Instrument 55-104. B2Gold's decision was driven by investment considerations such as price, market conditions, capital allocation priorities, and corporate strategy. Despite the sale, B2Gold remains a supportive shareholder of Calibre.
B2Gold has reported an initial Inferred Mineral Resource Estimate for the Springbok Zone within the Antelope deposit at the Otjikoto Mine in Namibia. Discovered in 2022, the Antelope deposit includes the Springbok and Oryx zones, with a potential third zone, Impala, pending further drilling. The Springbok Zone features an estimated 390,000 ounces of gold from 1.75 million tonnes at 6.91 g/t. This resource estimate paves the way for a Preliminary Economic Assessment (PEA) and potential underground mining. Positive PEA results and permits could enable mining to commence in 2026, boosting gold production to over 100,000 ounces annually until 2031. Recent drilling indicates further exploration potential beyond the currently defined resource. The ongoing 2024 exploration program, with a $9 million budget, aims to extend the known mineralization.
B2Gold has reported positive preliminary economic assessment (PEA) results for its 100%-owned Gramalote gold project in Antioquia, Colombia. The PEA reveals an after-tax net present value (NPV) of $778 million at a 5% discount rate, and an after-tax internal rate of return (IRR) of 20.6%. The project is expected to generate an after-tax free cash flow of $1.38 billion over its life. The open pit mine has an initial life of 10 years, processing gold over 12.5 years, and anticipates producing 2.3 million ounces of gold with an average recovery rate of 95.9%. The initial five years will see an average annual gold production of 234,000 ounces. The project’s all-in sustaining costs (AISC) are projected to be $886 per ounce. Pre-production capital costs are estimated at $807 million. B2Gold plans to begin feasibility work, aiming to complete a feasibility study by mid-2025. The project benefits from robust infrastructure, local support, and promising metallurgical characteristics.
B2Gold has entered into an agreement to sell a portfolio of 10 precious and base metals royalties to Sandbox Royalties, now renamed Versamet Royalties. This transaction provides B2Gold with an equity interest of 33% in Versamet, valued at $90 million, through the issuance of 153.2 million common shares at C$0.80 per share. The royalties portfolio includes significant NSR royalties on projects like Kiaka Gold, Toega Gold, Quebradona, Mocoa, and Primavera, among others. B2Gold retains a 22.5% silver royalty on Glencore's Hackett River project. The first phase of the transaction, valued at $72 million, closed on June 5, 2024, with the remaining royalties expected to be finalized within 60 days. This strategic partnership is intended to unlock the value of B2Gold's royalties and provide ongoing exposure to Versamet's expanding portfolio, which includes 28 royalties, with expectations for increased cash flow in the near term.
B2Gold has released its eighth annual Responsible Mining Report and its third annual Climate Strategy Report. The Responsible Mining Report, titled 'Raising the Bar,' highlights B2Gold's economic contributions, environmental management, and social governance for 2023. Key achievements include producing 1,061,060 ounces of gold, generating $1.9 billion in revenue, and paying $435 million in taxes and royalties. The company has also committed to a 30% reduction in Scope 1 and 2 GHG emissions by 2030. The reports emphasize B2Gold's dedication to sustainability, community engagement, and environmental stewardship.
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