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Last C$1.43 CAD
Change Today -0.015 / -1.04%
Volume 8.5M
BTO On Other Exchanges
As of 3:03 PM 07/29/15 All times are local (Market data is delayed by at least 15 minutes).

b2gold corp (BTO) Snapshot

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08/13/14 - C$3.12
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07/24/15 - C$1.34
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b2gold corp (BTO) Details

B2Gold Corp., a mid-tier gold mining company, explores and develops mineral properties in Nicaragua, the Philippines, Namibia, Burkina Faso, and Chile. The company principally explores for gold, silver, and copper. It primarily holds a 100% interest in the La Libertad mine, which consists of an exploitation concession covering 10,950 hectares located in Nicaragua; a 95% interest in the Limon mine property that covers an area of 12,000 hectares located northwest of Managua; and has 95% interest in Limon gold mine located in northwestern Nicaragua. The company also has interest in the Masbate mine, an open pit gold mine located near the northern tip of the island of Masbate; has a 90% interest in the Fekola gold mine located in southwestern Mali; and has 81% interest in the Kiaka gold project located in Burkina Faso. B2Gold Corp. was incorporated in 2006 and is headquartered in Vancouver, Canada.

3,330 Employees
Last Reported Date: 03/12/15
Founded in 2006

b2gold corp (BTO) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: C$1.0M
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: C$375.0K
Senior Vice President of Exploration
Total Annual Compensation: C$500.0K
Executive Vice President, General Counsel and...
Total Annual Compensation: C$500.0K
Senior Vice President of Engineering & Projec...
Total Annual Compensation: C$450.0K
Compensation as of Fiscal Year 2014.

b2gold corp (BTO) Key Developments

B2Gold Corp. Announces Consolidated Production and Revenue Results for the Second Quarter and First-Half of 2015; Reaffirms Production Guidance for the Full Year 2015

B2Gold Corp. announced consolidated production and revenue results for the second quarter and first-half of 2015. For the quarter, the company recorded gold production of 121,566 ounces, 42% greater than in the same period in 2014. For the quarter, the company reported gold revenue of $136.5 million on sales of 114,423 ounces at an average price of $1,193 per ounce Otjikoto mill expansion from 2.5 million tonnes per year to 3.0 million tonnes per year remains on schedule. For the first half year, the company reported gold production of 237,425 ounces (including 18,815 ounces of pre- commercial production from Otjikoto), an increase of 30% over the same period in 2014. For the first half year, the company reported gold revenue of $275.4 million (or record half-year consolidated gold revenue of $298.5 million including $23.1 million of pre-commercial sales from Otjikoto) and recorded gold sales of 229,222 ounces (or 247,688 ounces including 18,466 ounces of pre-commercial sales from Otjikoto). The company reaffirmed production guidance for the full year 2015. The company expected to increase gold production even further starting in September 2015. The company is on track to meet its 2015 annual guidance of 500,000 to 540,000 ounces of gold production.

B2Gold Corp. Closes its Previously Announced New $350 Million Revolving Credit Facility

B2Gold Corp. has closed its previously announced new $350 million Revolving Credit Facility. On May 20, 2015, the Company signed a credit agreement with a syndicate of international banks for a new Revolving Credit Facility for an aggregate amount of $350 million. The New RCF also allows for an accordion feature whereby upon receipt of additional binding commitments, the facility may be increased to $450 million any time prior to the maturity date. HSBC, as Sole Lead Arranger and Sole Bookrunner, will act as the Administrative Agent. The syndicate includes The Bank of Nova Scotia, Société Générale and ING Bank N.V, as Mandated Lead Arrangers. The New RCF will bear interest on a sliding scale of between Libor plus 2.25% to 3.25% based on the company’s consolidated net leverage ratio. Commitment fees for the undrawn portion of the facility will also be on a similar sliding scale basis of between 0.5% and 0.925%. The term for the New RCF will be four years, maturing on May 20, 2019, except that it shall become due on July 1, 2018 in the event that the Company’s 3.25% Convertible Senior Subordinated Notes initially due on October 1, 2018 remain outstanding or the maturity date of the Convertible Notes has not been extended to at least 90 days after May 20, 2019.

B2Gold Corp. Announces Robust Results from Optimized Feasibility Study at Fekola, Mali

B2Gold Corp. announced robust results from the optimized feasibility study of Fekola Gold Project, commencement of construction at Fekola in Mali. Open pit gold mine with an initial production life of mine of 12.5 years based on probable mineral reserves Average annual gold production for years one through seven of 350,000 ounces per year at a $418 operating cash cost per ounce Average annual LOM gold production of 276,000 ounces per year at an operating cash cost of $552 per ounce New open pit probable mineral reserves of 49.2 million tonnes at a grade of 2.35 grams per tonne gold containing 3.72 million ounces of gold at a stripping ratio of 4.5:1 Average LOM gold recovery of 92.8% resulting in a total of 3.45 million ounces produced over the 12.5 year life of mine Estimated pre-production capital cost of $395 million plus $67 million for fleet and generator costs which are expected to be lease financed. This does not include approximately $30 million of early work on schedule to be completed by the end of June 2015 Cumulative LOM net cash flow pre-tax of $1.66 billion at an assumed gold price of $1,300 per ounce Net present value pre-tax of $1.01 billion at a 5% discount rate generating a pre-tax internal rate of return of 35% Plant and supporting infrastructure will be built to a design throughput of 4.0 million tonnes per annum with a 25% design factor which allows for future throughput expansion with minimal additional capital outlay Pre-construction activities have commenced at the Fekola Project and, based on current assumptions, commencement of production is expected in the fourth quarter of 2017. The Fekola Project is located in south-western Mali in the regional province of Kayes, approximately 365 kilometres west of the capital Bamako. The current mining license (exploitation license) for the Fekola Project covers an area of approximately 74 square kilometres, containing all mine infrastructure including the open pit, processing plant, tailings storage facility, and waste dumps. The company is in the process of creating a wholly-owned subsidiary company in Mali. In conjunction with the negotiation of a related shareholder's agreement, the mining license currently held in Songhoi will be transferred to this company and the Government of Mali will take a free carried 10% equity interest in the Exploitation Company. The Malian Mining Code also allows the Government of Mali to purchase (at market terms) an additional 10% interest in the Exploitation Company. The Government of Mali has expressed an interest in acquiring an additional 10% interest and negotiations are on-going. If the Government of Mali is successful, and as anticipated, the final ownership of the Exploitation Company will be 80% by the company and 20% by the Government of Mali. The company has also begun the process of negotiating a new Mining Convention with the Government of Mali which will govern the procedural and economic parameters pursuant to which the company will operate the Fekola Project. Creation of the Exploitation Company and negotiation of the Mining Convention are expected to be completed by the third quarter of 2015. Under the Optimized Feasibility Study, the Fekola Project will be developed as an open pit mine in seven stages, where run-of-mine ore will be trucked to the plant, crushed, and then treated in a grinding circuit utilizing conventional SAG and ball mills, and a carbon-in-pulp recovery process. The mine plan is based on probable mineral reserves of 49.2 million tonnes at an average grade of 2.35 g/t containing 3.72 million ounces of gold at a stripping ratio of 4.5:1 to be mined over 9.5 years. Annual mined tonnage will total 32 million tonnes per year, using stockpiling to optimize head grade and gold production in the first seven years of the project. The processing plant facility and supporting infrastructure will be built to a design throughput of 4.0 million tonnes per annum with a 25% design factor which allows for an increase in future throughput with minimal additional capital overlay. The OFS base case assumption is 4.0 million tonnes per year processing rate for 12.5 years. The current average annual production for the first seven years is approximately 350,000 ounces per year at an average operating cash cost of $418 per ounce and for the LOM approximately 276,000 ounces per year at an average operating cash cost of $552 per ounce. The total pre-production capital costs are estimated to be $395 million plus $67 million of anticipated mine fleet and power generator costs which are expected to be lease financed. The financial modeling for the Fekola Project indicates robust economics. At a reserve gold price of $1,300 per ounce the Fekola Project is projected to yield a positive pre-tax NPV of $1.01 billion at a discount rate of 5%. The pre-tax IRR is 35% and the payback is approximately 2.25 years after the first gold production.


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