B2Gold Corp., through its subsidiaries, operates as a mid-tier gold mining company with a focus on acquiring and developing interests in mineral properties. The company conducts gold mining operations and exploration and drilling campaigns to define and develop Mineral Resources and Mineral Reserves on its properties with an intention of developing, constructing, and operating mines on such properties. Material Properties Masbate Mine The Masbate Mine is located near the northern tip of the island of Masbate. The company indirectly owns the Masbate Mine through its 100% ownership of Philippine Gold Limited, which owns 40% of Filminera Resources Corporation (FRC). The remaining 60% of FRC is owned by a Philippine registered company, Zoom Mineral Holdings Inc. In addition, the company indirectly owns 100% of Philippine Gold Processing & Refining Corporation, the owner of the mineral processing facility. FRC holds the mineral tenements that include the Masbate Mine. The mining claims and applications cover an area of approximately 10,807 hectares. The company also holds an interest, through Vicar Mining Corporation, in the highly prospective Pajo property, immediately to the north of the Colorado Pit, which covers an area of 786 hectares. The Probable Mineral Reserves for the Masbate Mine as of December 31, 2014 are 101,910,000 tonnes at a grade of 0.92 g/t gold for 3,004,000 million ounces of contained gold. La Libertad Mine La Libertad Mine is located approximately 110 kilometers due east of Managua. The property is situated near the town of La Libertad in La Libertad-Santo Domingo Region of the Department of Chontales in Central Nicaragua. The company, indirectly through its subsidiary, Desarrollo Minero de Nicaragua S.A., holds a 100% interest in one exploitation concession covering 10,950 hectares. In addition, the company holds an additional exploration concession, Extension Cuernos de Oro, which covers 1,196 hectares of the potential extension of a mine. The company holds an additional exploration concession, Extension Cuernos de Oro, which covers 1,196 hectares of the potential extension of a mineralized structure northwest of the exploitation concession. In 2014, the company completed a total of 8,250 meters of drilling in 58 holes. Otjikoto Mine The Otjikoto Mine is located approximately 70 kilometers northwest of the town of Otjiwarongo. In 2014, 111 drill holes totaling 29,800 meters were drilled on the Otjikoto Mine. Other Principal Assets Limon Mine The Limon Mine property is located in northwestern Nicaragua approximately 100 kilometers northwest of Managua, the capital of Nicaragua. The company holds an indirect 95% interest in Triton Minera S.A. (Triton), which owns and operates the Limon Mine, and holds three other mineral concessions, all at an exploration stage. Triton directly owns or controls the surface rights for all of the property upon which the current mining, milling, tailings and related facilities at the Limon Mine are located. Triton also owns a portion of the surface rights for the properties. RG Exchangeco Inc., a subsidiary of Royal Gold, Inc., holds a 3% net smelter returns royalty on the gold production from the Limon Mine and certain other concessions. Internacional de Comercial S.A. holds a royalty equal to 5% of the net profit of Triton Mining (USA) LLC, the company’s indirect subsidiary that holds a 47.5% interest in the Limon Mine. Fekola Project The Fekola Project is located within the Kayes Region, in southwestern Mali, on the western border of Mali with Senegal. The company initially acquired a 90% interest in Songhoi Resources SARL (Songhoi), the Malian holding company for the Fekola Project through the company’s acquisition of Papillon Resources Pty Ltd. in 2014 and through a subsequent transaction in January 2015 with Mani SARL (Mani), whereby the company purchased Mani’s 10% non-controlling interest in Songhoi. In 2014, the company and Papillon Resources Pty Ltd. drilled 27 diamond drill holes and 130 reverse circulation holes totaling 17,000 meters. Kiaka Project The Kiaka Project is located in south central Burkina Faso in the regional province of Boulgou and Zoundweogo. The exploration license (the Kiaka License) for the Kiaka Project covers an area of approximately 184 square kilometers and is 100% owned by the company (indirectly through its subsidiary Kiaka Gold SARL), subject to 10% participating interest held by GAMS–Mining F&I Ltd., a Cypriot company with local Burkinabe affiliates. Other Properties and Interests Gramalote Project The Gramalote Project is located approximately 230 kilometers northwest of the Colombian capital of Bogota. AngloGold Ashanti Limited (AngloGold) and the company have a 51% and 49% interest, respectively in the Gramalote property. AngloGold is the manager of the joint venture project. The Gramalote Project area is covered by 17 contiguous claim blocks totaling 35,322.2 hectares. The claims include 16 registered concession contracts totaling 25,909.3 hectares and 1 integrated and registered mining concession contract totaling 9,412.9 hectares. Pavon Property The company holds a 100% interest in the Pavon exploration property in Nicaragua, which consists of one concession covering approximately 1,301 hectares. The Pavon property is located in north-central Nicaragua. The Pavon property is located in Matagalpa Province of Nicaragua near the borders of the Jinotega and Atlantico Norte Provinces, within the Región Autónoma del Atlántico Norte. Dispositions In January 2015, the company completed the sale of its interest in the Bellavista project to Alray Investments Inc., which included the equipment on the Bellavista project site. History B2Gold Corp. was incorporated under the Business Corporations Act (British Columbia) in 2006.
b2gold corp (BTO:Toronto)
595 Burrard Street
Vancouver, BC V7X 1J1
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