B2Gold Reports Strong Q1 2021 Results; Quarterly Total Gold Production of 220,644 oz, 9% Above Budget; Cash Operating Costs and All-In Sustaining Costs Lower than Budget – Gold Mine Saloon- Complete Guide to Gold, Stocks, Mining, Investing and More

var jnews_ajax_url = ‘/?ajax-request=jnews’ B2Gold Reports Strong Q1 2021 Results; Quarterly Total Gold Production of 220,644 oz, 9% Above Budget; Cash Operating Costs and All-In Sustaining Costs Lower than Budget – Gold Mine Saloon- Complete Guide to Gold, Stocks, Mining, Investing and More {“@context”:”https://schema.org”,”@graph”:[{“@type”:”WebSite”,”@id”:”https://goldminesaloon.net/#website”,”url”:”https://goldminesaloon.net/”,”name”:”Gold Mine Saloon- Complete Guide to Gold, Stocks, Mining, Investing and More”,”description”:””,”potentialAction”:[{“@type”:”SearchAction”,”target”:”https://goldminesaloon.net/?s={search_term_string}”,”query-input”:”required name=search_term_string”}],”inLanguage”:”en-US”},{“@type”:”ImageObject”,”@id”:”https://goldminesaloon.net/gold/b2gold-reports-strong-q1-2021-results-quarterly-total-gold-production-of-220644-oz-9-above-budget-cash-operating-costs-and-all-in-sustaining-costs-lower-than-budget/#primaryimage”,”inLanguage”:”en-US”,”url”:”https://goldminesaloon.net/wp-content/uploads/2021/01/prn_facebook_sharing_logo.jpg”,”width”:600,”height”:315},{“@type”:”WebPage”,”@id”:”https://goldminesaloon.net/gold/b2gold-reports-strong-q1-2021-results-quarterly-total-gold-production-of-220644-oz-9-above-budget-cash-operating-costs-and-all-in-sustaining-costs-lower-than-budget/#webpage”,”url”:”https://goldminesaloon.net/gold/b2gold-reports-strong-q1-2021-results-quarterly-total-gold-production-of-220644-oz-9-above-budget-cash-operating-costs-and-all-in-sustaining-costs-lower-than-budget/”,”name”:”B2Gold Reports Strong Q1 2021 Results; 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No Result View All Result Gold Mine Saloon- Complete Guide to Gold, Stocks, Mining, Investing and More No Result View All Result Home Gold B2Gold Reports Strong Q1 2021 Results; Quarterly Total Gold Production of 220,644 oz, 9% Above Budget; Cash Operating Costs and All-In Sustaining Costs Lower than Budget admin by admin May 5, 2021 in Gold 0Why Mounting Pandemic And Vaccine Concerns May Create A Surge In Gold Prices189 SHARES1.5k VIEWS Share on Facebook Share on Twitter

VANCOUVER, BC, Could 4, 2021 /PRNewswire/ – B2Gold Corp. (TSX: BTO) (NYSE AMERICAN: BTG) (NSX: B2G) (“B2Gold” or the “Firm”) is happy to announce its operational and monetary outcomes for the primary quarter of 2021. The Firm beforehand launched its gold manufacturing and gold income outcomes for the primary quarter of 2021. All greenback figures are in United States {dollars} except in any other case indicated.

2021 First Quarter Highlights

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  • Complete gold manufacturing of 220,644 ounces (together with 15,001 ounces of attributable manufacturing from Calibre Mining Corp. (“Calibre”)), 9% (18,542 ounces) above finances, and consolidated gold manufacturing of 205,643 ounces from the Firm’s three working mines, 9% (17,291 ounces) above finances
  • Consolidated gold income was $362 million on gross sales of 202,330 ounces at a median worth of $1,791 per ounce
  • Consolidated money circulation supplied by working actions from the Firm’s three working mines of $146 million; B2Gold maintains a robust monetary place and liquidity with money and money equivalents of $513 million as at March 31, 2021
  • Complete consolidated money working prices (see “Non-IFRS Measures”) of $609 per ounce produced, well-below finances by $54 per ounce produced (8%), and complete consolidated all-in sustaining prices (“AISC”) (see “Non-IFRS Measures”) of $932 per ounce offered, considerably under finances by $146 per ounce offered (14%) (together with estimated attributable outcomes for Calibre)
  • Internet revenue attributable to the shareholders of the Firm of $92 million ($0.09 per share); adjusted internet revenue (see “Non-IFRS Measures”) attributable to the shareholders of the Firm of $97 million ($0.09 per share)
  • No Misplaced-Time-Damage (“LTI”) incidents on the Firm’s working mines within the first quarter of 2021, extending the variety of days with out an LTI to 437 days for Fekola, 866 days for Masbate and 154 days for Otjikoto as at March 31, 2021
  • Following the profitable completion of the Fekola mill growth to 7.5 million tonnes every year (“Mtpa”) in September 2020, Fekola’s mill throughput was a quarterly report of two.07 million tonnes within the first quarter of 2021, 9% above finances and 19% increased than the primary quarter of 2020
  • For full-year 2021, B2Gold stays nicely positioned for continued sturdy operational and monetary efficiency with complete gold manufacturing steerage of between 970,000 – 1,030,000 ounces (together with 50,000 – 60,000 attributable ounces projected from Calibre) with complete consolidated forecast money working prices of between $500 – $540 per ounce and complete consolidated AISC of between $870 – $910 per ounce
  • Based mostly on present assumptions, together with a gold worth of $1,800 per ounce, the Firm expects to generate cashflows from working actions of roughly $630 million for the full-year 2021
  • Chosen because the recipient of 5 extra mining business awards in the Philippines and Mali

The Firm continues to deal with the COVID-19 pandemic and reduce its potential affect at B2Gold’s operations. B2Gold locations the security and well-being of its workforce and all stakeholders as its highest precedence and continues to encourage enter from all its stakeholders because the COVID-19 scenario evolves. The Firm continues to implement measures and precautionary steps to handle and reply to the dangers related to COVID-19 to make sure the security of B2Gold’s staff, contractors, suppliers and surrounding communities the place the Firm works whereas persevering with to function. The Firm is frequently updating these plans and response measures primarily based on the security and well-being of its workforce, the severity of the pandemic in areas the place it operates, international response measures, authorities restrictions and in depth neighborhood session. The Firm is working intently with nationwide and native authorities, together with labour unions, and continues to intently monitor every web site’s scenario, together with public and worker sentiment to make sure that stakeholders are in alignment with continued secure operation of its mines.

2021 First Quarter Operational Outcomes 

Complete consolidated gold manufacturing within the first quarter of 2021 was 220,644 ounces (together with 15,001 ounces of attributable manufacturing from Calibre), above finances by 9% (18,542 ounces), with strong performances from the Firm’s three working mines which all exceeded their budgeted manufacturing along with decrease than budgeted money working prices per ounce and AISC for the primary quarter. The Fekola Mine in Mali continued its sturdy operational efficiency via the primary quarter of 2021, producing 125,088 ounces of gold, 7% (8,088 ounces) above finances, because the Fekola processing services continued to outperform. Following the profitable completion of the Fekola mill growth to 7.5 Mtpa (a rise of 1.5 Mtpa from an assumed base price of 6 Mtpa) in September 2020, mill throughput was a quarterly report of two.07 million tonnes within the first quarter of 2021, 9% above finances and 19% increased than the primary quarter of 2020. The Masbate Mine in the Philippines additionally had a robust begin to the 12 months with first quarter of 2021 gold manufacturing of 57,513 ounces, well-above finances by 14% (6,852 ounces). The Otjikoto Mine in Namibia carried out nicely through the first quarter of 2021, producing 23,042 ounces of gold, 11% (2,351 ounces) above finances, with processed tonnes, grade and recoveries all barely higher than finances. As anticipated, in comparison with the primary quarter of 2020, complete consolidated gold manufacturing was decrease by 17% (44,218 ounces), because of deliberate important waste stripping campaigns at each the Fekola and Otjikoto mines, scheduled for the primary half of 2021 (for Section 5 and Section 6 of the Fekola Pit, and Section 3 of every of the Wolfshag and Otjikoto pits). Gold manufacturing is predicted to considerably improve within the second half of 2021, when mining at Fekola reaches the higher-grade zones of the Fekola Pit and mining at Otjikoto reaches the higher-grade zone on the base of the Wolfshag Pit.

For the primary quarter of 2021, complete consolidated money working prices (together with estimated attributable outcomes for Calibre) had been $609 per ounce produced ($582 per ounce offered), well-below finances by $54 per ounce produced (8%), primarily on account of increased than budgeted gold manufacturing. As anticipated, complete consolidated money working prices had been increased within the first quarter of 2021 in comparison with the quarterly report low complete consolidated money working prices of $389 per ounce produced ($405 per ounce offered) within the first quarter of 2020, primarily on account of the deliberate decrease gold manufacturing and better interval stripping actions, gasoline prices and import duties.

Complete consolidated AISC for the primary quarter of 2021 had been $932 per ounce offered (Q1 2020 – $721 per ounce offered), considerably under finances by $146 per ounce offered (14%), primarily attributable to the decrease than budgeted money working prices, increased than budgeted ounces offered, and decrease than budgeted normal and administrative prices and sustaining capital expenditures. The decrease than budgeted sustaining capital expenditures are primarily because of timing of expenditures and are anticipated to be incurred later in 2021.

For full-year 2021, the Firm’s complete gold manufacturing is forecast to be between 970,000 – 1,030,000 ounces (together with 50,000 – 60,000 attributable ounces projected from Calibre), with complete consolidated money working prices forecast to be between $500 – $540 per ounce and complete consolidated AISC forecast to be between $870 – $910 per ounce. The Firm’s 2021 manufacturing steerage doesn’t embody the potential upside to extend Fekola’s gold manufacturing in 2021 from the close by Cardinal useful resource and the upper than budgeted processing capability at the moment being investigated.

For full-year 2021, the Firm’s consolidated gold manufacturing from its three working mines is predicted to be considerably weighted to the second half of 2021 because of deliberate important waste stripping at each the Fekola and Otjikoto mines within the first half of 2021. For the primary half of 2021, consolidated gold manufacturing is predicted to be between 365,000 – 385,000 ounces, which is predicted to extend considerably to between 555,000 – 585,000 ounces through the second half of 2021 when mining reaches the upper grade portion of Section 5 of the Fekola Pit and Section 3 of the Wolfshag Pit. Based mostly primarily on the weighting of manufacturing and timing of stripping, consolidated money working prices are anticipated to be between $620 – $660 per ounce within the first half of 2021, earlier than considerably enhancing to between $380 – $420 per ounce through the second half of 2021. As well as, consolidated AISC are anticipated to be between $1,040 – $1,080 per ounce within the first half of 2021, earlier than considerably enhancing to between $745 – $785 per ounce through the second half of 2021.

2021 First Quarter Monetary Outcomes

For the primary quarter of 2021, consolidated gold income was $362 million on gross sales of 202,330 ounces at a median worth of $1,791 per ounce, in comparison with $380 million on gross sales of 239,500 ounces at a median worth of $1,588 per ounce within the first quarter of 2020. The lower in gold income of $18 million (5%) was 16% attributable to the lower in gold ounces offered (primarily because of the decrease gold manufacturing), partially offset by an 11% affect from the rise within the common realized gold worth.  

For the primary quarter of 2021, money circulation supplied by working actions was $146 million, decrease, as anticipated, in comparison with $216 million within the first quarter of 2020. The lower of $70 million was primarily because of decrease revenues of $18 million, increased manufacturing prices of $20 million and better working capital outflows within the first quarter of 2021 for value-added and different tax receivables and present revenue and different taxes payable.

Internet revenue for the primary quarter of 2021 was $99 million in comparison with $83 million for the primary quarter of 2020. Internet revenue attributable to the shareholders of the Firm was $92 million ($0.09 per share) in comparison with $72 million ($0.07 per share) for the primary quarter of 2020. Adjusted internet revenue attributable to the shareholders of the Firm (see “Non-IFRS Measures”) was $97 million ($0.09 per share) in comparison with adjusted internet revenue of $95 million ($0.09 per share) for the primary quarter of 2020.

Liquidity and Capital Assets

B2Gold continues to keep up a robust monetary place and liquidity. At March 31, 2021, the Firm had money and money equivalents of $513 million (December 31, 2020 – $480 million) and dealing capital of $536 million (December 31, 2020 – $465 million). As well as, the Firm’s $600 million Revolving Credit score Facility stays totally undrawn and out there.

Because of the Firm’s sturdy internet optimistic money place, sturdy working outcomes and the present increased gold worth atmosphere, B2Gold’s quarterly dividend price is predicted to be maintained at $0.04 per frequent share (or an annualized price of $0.16 per frequent share), one of many highest dividend yields within the gold sector.

In 2021, the Firm expects to generate cashflows from working actions of roughly $630 million, primarily based on present assumptions together with a median gold worth of $1,800 per ounce. Roughly $500 million of this complete is predicted to be generated within the second half of 2021, when the Firm begins mining from the upper grade areas of the Fekola Pit and mining at Otjikoto reaches the upper grade zone on the base of the Wolfshag Pit. The Firm’s working cashflows within the second quarter of 2021 are forecast to be impacted, as anticipated, by the settlement of the Firm’s 2020 year-end revenue tax and Fekola precedence dividend obligations and different tax installment funds totaling roughly $140 million.

Operations

Mine-by-mine gold manufacturing within the first quarter of 2021 (together with the Firm’s estimated 33% share of Calibre’s manufacturing) was as follows:  

Mine

Q1 2021
Gold Manufacturing
(ounces)

First-Half 2021
Forecast
Gold Manufacturing
(ounces)

Second-Half 2021
Forecast
Gold Manufacturing
(ounces)

Full-year 2021
Forecast
Gold Manufacturing
(ounces)

Fekola

125,088

220,000 – 230,000

310,000 – 330,000

530,000 – 560,000

Masbate

57,513

100,000 – 105,000

100,000 – 105,000

200,000 – 210,000

Otjikoto

23,042

45,000 – 50,000

145,000 – 150,000

190,000 – 200,000

B2Gold Consolidated (1)

205,643

365,000 – 385,000

555,000 – 585,000

920,000 – 970,000






Fairness curiosity in Calibre (2) 

15,001

25,000 – 30,000

25,000 – 30,000

50,000 – 60,000






Complete

220,644

390,000 – 415,000

580,000 – 615,000

970,000 – 1,030,000



(1)

“B2Gold Consolidated” – gold manufacturing is offered on a 100% foundation, as B2Gold totally consolidates the outcomes of its Fekola, Masbate and Otjikoto mines in its consolidated monetary statements (though it doesn’t personal 100% of those operations).   

(2)

“Fairness curiosity in Calibre” – represents the Firm’s approximate 33% oblique share of the operations of Calibre’s El Limon and La Libertad mines. B2Gold applies the fairness technique of accounting for its 33% possession curiosity in Calibre. 

Mine-by-mine money working prices per ounce (on a per ounce of gold produced foundation) within the first quarter of 2021 had been as follows (offered on a 100% foundation):  

Mine

Q1 2021
Money Working
Prices
($ per ounce
produced)

First-Half 2021
Forecast
Money Working
 Prices
($ per ounce
produced)

Second-Half 2021
Forecast
Money Working
Prices
($ per ounce
produced)

Full-year 2021
Forecast
Money Working
Prices
($ per ounce
produced)

Fekola

$503

$530 – $570

$315 – $355

$405 – $445

Masbate

$608

$670 – $710

$630 – $670

$650 – $690

Otjikoto

$940

$940 – $980

$330 – $370

$480 – $520

B2Gold Consolidated

$581

$620 – $660

$380 – $420

$480 – $520






Fairness curiosity in Calibre (1) 

$991

$920 – $1,020

$920 – $1,020

$920 – $1,020






Complete

$609

$640 – $680

$400 – $440

$500 – $540



(1)

Calibre’s 2021 forecast money working prices are assumed to be constant all through 2021.    

Mine-by-mine money working prices per ounce (on a per ounce of gold offered foundation) within the first quarter of 2021 had been as follows (offered on a 100% foundation):  

Mine

Q1 2021
Money Working Prices
($ per ounce offered)

First-Half 2021
Forecast
Money Working Prices
($ per ounce offered)

Second-Half 2021
Forecast
Money Working Prices
($ per ounce offered)

Full-year 2021
Forecast
Money Working Prices
($ per ounce offered)

Fekola

$479

$530 – $570

$315 – $355

$405 – $445

Masbate

$578

$670 – $710

$630 – $670

$650 – $690

Otjikoto

$823

$940 – $980

$330 – $370

$480 – $520

B2Gold Consolidated

$552

$620 – $660

$380 – $420

$480 – $520






Fairness curiosity in Calibre (1) 

$981

$920 – $1,020

$920 – $1,020

$920 – $1,020






Complete

$582

$640 – $680

$400 – $440

$500 – $540



(1)

Calibre’s 2021 forecast money working prices are assumed to be constant all through 2021.    

Mine-by-mine AISC (on a per ounce of gold offered foundation) within the first quarter of 2021 had been as follows (offered on a 100% foundation):  

Mine

Q1 2021
Forecast
AISC
($ per ounce offered)

First-Half 2021
Forecast
AISC
($ per ounce offered)

Second-Half 2021
Forecast
AISC
($ per ounce offered)

Full-year 2021
Forecast
AISC
($ per ounce offered)

Fekola

$770

$850 – $890

$670 – $710

$745 – $785

Masbate

$818

$980 – $1,020

$940 – $980

$955 – $995

Otjikoto

$1,475

$1,600 – $1,640

$580 – $620

$830 – $870

B2Gold Consolidated

$919

$1,040 – $1,080

$745 – $785

$860 – $900






Fairness curiosity in Calibre (1) 

$1,098

$1,040 – $1,140

$1,040 – $1,140

$1,040 – $1,140






Complete

$932

$1,040 – $1,080

$760 – $800

$870 – $910



(1)

Calibre’s 2021 forecast AISC are assumed to be constant all through 2021.    

Fekola Gold Mine – Mali

The Fekola Mine in Mali continued its sturdy operational efficiency via the primary quarter of 2021, producing 125,088 ounces of gold, 7% (8,088 ounces) above finances, because the Fekola processing services continued to outperform. Following the profitable completion of the Fekola mill growth to 7.5 Mtpa (a rise of 1.5 Mtpa from an assumed base price of 6 Mtpa) in September 2020, mill throughput was a quarterly report of two.07 million tonnes within the first quarter of 2021, which was 9% above finances and 19% increased than the primary quarter of 2020. Fekola’s increased than budgeted mill throughput was primarily because of beneficial ore fragmentation and hardness, and optimization of the grinding circuit. As anticipated, in comparison with the primary quarter of 2020, gold manufacturing was decrease by 24% (38,923 ounces), on account of the deliberate important waste stripping and decrease mined ore grades, as Phases 5 and 6 of the Fekola Pit are developed through the first half of 2021. Mined ore tonnage and grade proceed to reconcile nicely with the Fekola useful resource mannequin, and ore manufacturing is predicted to considerably improve within the second half of 2021 when mining reaches the higher-grade zones of the Fekola Pit. As at March 31, 2021, the Fekola Mine had achieved 437 days and not using a LTI.

For the primary quarter of 2021, mill feed grade was 1.99 grams per tonne (“g/t”) in comparison with finances of two.03 g/t and three.11 g/t within the first quarter of 2020; mill throughput was 2.07 million tonnes in comparison with finances of 1.91 million tonnes and 1.75 million tonnes within the first quarter of 2020; and gold restoration averaged 94.4% in comparison with finances of 94.0% and 93.8% within the first quarter of 2020. Processed grade was decrease in comparison with the primary quarter of 2020, primarily on account of the concentrate on increased mill feed grade and the stockpiling technique used through the mill growth actions within the first quarter of 2020, along with the aforementioned decrease mined ore grades within the first quarter of 2021 as Phases 5 and 6 of the Fekola Pit are developed.

The Fekola mill has the potential to run above the expanded annualized throughput price of seven.5 Mtpa and evaluation is at the moment underway to find out the optimum throughput price. For 2021 budgeting functions, the Firm has assumed a throughput price of seven.75 Mtpa. Mill processing trials carried out within the fourth quarter of 2020 show the potential to optimize the grind-throughput capability of the expanded facility and improve hard-rock throughput, and help the addition of saprolite ore tonnage in extra of the hard-rock capability. Based mostly on optimistic outcomes so far, Fekola’s annualized throughput price is predicted to proceed to stay above 8.0 Mtpa.

Manufacturing planning for the close by Cardinal useful resource space, positioned inside 500 metres of the present Fekola useful resource pit, is at the moment underway (the preliminary Inferred Mineral Useful resource estimate for Cardinal is 640,000 ounces of gold in 13.0 million tonnes of ore at 1.54 g/t gold). Grade management drilling for a bulk pattern at  Cardinal has been accomplished, and preparations for the majority pattern are underway with sampling anticipated to start within the second quarter of 2021. An Environmental and Social Influence Evaluation has been accomplished and submitted to the Malian authorities. Approval of the addition of Cardinal to the Fekola environmental allow is predicted shortly and following this, an software will likely be made so as to add mining at Cardinal to the Fekola Mine plan.

For the primary quarter of 2021, Fekola’s money working prices had been $503 per ounce produced ($479 per ounce offered), well-below finances by $55 per ounce produced (10%), primarily on account of increased than budgeted gold manufacturing. Mining and processing prices had been additionally under finances for the quarter, primarily because of decrease than budgeted upkeep prices and cyanide consumption, and sooner than deliberate energy manufacturing from the brand new Fekola solar energy facility. As anticipated, Fekola’s money working prices had been increased within the first quarter of 2021 in comparison with Fekola’s quarterly report low money working prices of $251 per ounce produced ($286 per ounce offered) within the first quarter of 2020, primarily on account of the deliberate decrease gold manufacturing and better interval stripping actions within the first quarter of 2021, in addition to increased gasoline prices, import duties and ongoing COVID-19 associated labour and medical prices in Mali.

Fekola’s AISC for the primary quarter of 2021 had been $770 per ounce offered (Q1 2020 – $519 per ounce offered), considerably under finances by $128 per ounce offered (14%), primarily attributable to the decrease than budgeted money working prices.   

Capital expenditures for the primary quarter of 2021 totaled $17 million, primarily consisting of $6 million for the photo voltaic plant, $6 million for pre-stripping and $3 million for mine infrastructure.

For full-year 2021, the Fekola Mine is predicted to supply between 530,000 – 560,000 ounces of gold at money working prices of between $405 – $445 per ounce and AISC of between $745 – $785 per ounce. Further mining from the Cardinal useful resource space and better than budgeted processing capability are at the moment being investigated (as mentioned above), with the potential to extend Fekola’s budgeted 2021 and longer-term gold manufacturing.

On account of the deliberate waste stripping and decrease mined ore grades within the first half of 2021, as Section 5 and 6 of the Fekola Pit are developed, manufacturing is predicted to be considerably weighted to the second half of 2021 (when mining reaches the upper grade portion of Section 5 of the Fekola Pit). For the primary half of 2021, Fekola’s gold manufacturing is predicted to be between 220,000 – 230,000 ounces, which is predicted to extend considerably to between 310,000 – 330,000 ounces through the second half of 2021. Based mostly primarily on the weighting of manufacturing and timing of waste stripping, Fekola’s money working prices are anticipated to be between $530 – $570 per ounce within the first half of 2021, earlier than considerably enhancing to between $315 – $355 per ounce through the second half of 2021. As well as, Fekola’s AISC are anticipated to be between $850 – $890 per ounce within the first half of 2021, earlier than considerably enhancing to between $670 – $710 per ounce through the second half of 2021. 

Fekola Photo voltaic Plant

Following the non permanent suspension of photo voltaic plant building actions in April 2020 because of COVID-19 restrictions, web site actions recommenced on October 2, 2020, and building progress is now roughly 95% full. On January 5, 2021, a hearth within the photo voltaic storage yard destroyed roughly 25% of the photo voltaic panels for the venture. Alternative panels have been sourced and are scheduled to reach on web site by mid-Could 2021. Roughly 25% of the photo voltaic area got here on-line on January 28, 2021 and photo voltaic manufacturing reached 75% of full put in capability by the tip of March 2021 when the plant was turned over to the Fekola operations staff. Solar energy manufacturing with solely 75% put in capability has exceeded every day baseline targets for the complete venture, with a number of days of gasoline value financial savings of over $32,000 versus a purpose of $25,000 per day, and substitute of as much as 20% of the full every day energy in comparison with a baseline purpose of 18%.

The schedule for set up of the remaining 25% is contingent on the supply of the substitute panels, however full building completion is now projected by the tip of the second quarter of 2021. The Firm doesn’t anticipate any important affect on Fekola’s 2021 budgeted money working prices on account of the delay in completion of the photo voltaic plant. The prevailing heavy gasoline oil (“HFO”) and diesel energy plant have an put in capability of 64 megawatts whereas Fekola’s expanded mill services require solely roughly 40 megawatts for steady operations. The photo voltaic plant is subsequently not a obligatory part to maintain the upper course of plant manufacturing price however is predicted to cut back Fekola’s working prices and emissions by lowering energy plant gasoline consumption and upkeep prices. When the plant is totally commissioned, it’s anticipated to cut back HFO consumption by over 13 million litres per 12 months and decrease carbon dioxide emissions by an estimated 39,000 tonnes per 12 months.

Menankoto Allow 

The Firm’s Malian subsidiary, Menankoto SARL (“Menankoto”) utilized for a renewal of the Menankoto exploration allow (the “Menankoto Allow”) in early February 2021 however was subsequently suggested in early March 2021 that the allow had been granted to a 3rd social gathering. The Firm believes that the grant of the exploration allow masking the perimeter of the Menankoto Allow to a 3rd social gathering is opposite to Menankoto’s authorized rights beneath each the 2012 Malian Mining Code and the 2019 Malian Mining Code. Discussions with the Authorities in Mali proceed to advance so as to resolve the difficulty. The Firm strongly believes that Menankoto is entitled to a renewal of the Menankoto Allow beneath relevant regulation and within the occasion that discussions with the federal government are unsuccessful, the Firm intends to pursue all out there authorized cures to resolve this situation.

Masbate Gold Mine – the Philippines

The Masbate Mine in the Philippines additionally had a robust begin to the 12 months with first quarter of 2021 gold manufacturing of 57,513 ounces, well-above finances by 14% (6,852 ounces). Gold manufacturing improved towards finances primarily because of increased than budgeted mill recoveries (10% above finances) and included processed ore from two primary sources. Within the first quarter of 2021, recoveries referring to mill feed sourced from high-grade sulfide ore mined from Primary Vein Pit Phases 4 and 5 within the quarter had been 8% above finances, whereas recoveries referring to processed low-grade stockpile tonnage, initially mined from the Colorado Pit, had been 7% above finances. As well as, oxide ore processed through the first quarter of 2021 was 4% increased than finances, which additionally contributed to the upper recoveries. In comparison with the primary quarter of 2020, gold manufacturing within the first quarter of 2021 was increased by 28% (12,641 ounces), primarily because of increased mined ore grades within the first quarter of 2021, on account of mining via a higher-grade zone of the Primary Vein Pit. The Masbate Mine continued its exceptional security efficiency, extending the variety of days with out an LTI to 866 days as at March 31, 2021.

For the primary quarter of 2021, mill feed grade was 1.10 g/t in comparison with finances of 1.06 g/t and 0.90 g/t within the first quarter of 2020; mill throughput was 1.95 million tonnes in comparison with finances of 1.95 million tonnes and 1.87 million tonnes within the first quarter of 2020; and gold restoration averaged 83.6% in comparison with finances of 75.7% and 83.2% within the first quarter of 2020.

For the primary quarter of 2021, Masbate’s money working prices had been $608 per ounce produced ($578 per ounce offered), well-below finances by $80 per ounce produced (12%) and considerably decrease than the primary quarter of 2020 by $114 per ounce produced (16%), primarily the results of increased gold manufacturing.

Masbate’s AISC for the primary quarter of 2021 had been $818 per ounce offered, considerably under finances by $194 per ounce offered (19%) and well-below the primary quarter of 2020 by $90 per ounce offered (10%). The beneficial finances variance mirrored the decrease than budgeted money working prices, increased than budgeted gold ounces offered and decrease than budgeted sustaining capital expenditures (primarily because of the timing of rebuilds and pre-stripping).

Capital expenditures for the primary quarter of 2021 totaled $7 million, primarily consisting of $2 million for cellular gear acquisition prices and rebuilds, $2 million for tailings storage facility tasks and $1 million for pre-stripping.

For full-year 2021, the Masbate Mine is predicted to supply between 200,000 – 210,000 ounces of gold at money working prices of between $650 – $690 per ounce and AISC of between $955 – $995 per ounce. Masbate’s gold manufacturing is predicted to be comparatively constant all through every of the quarters in 2021.

Otjikoto Gold Mine – Namibia

The Otjikoto Mine in Namibia carried out nicely through the first quarter of 2021, producing 23,042 ounces of gold, 11% (2,351 ounces) above finances, with processed tonnes, grade and recoveries all barely higher than finances. As anticipated, in comparison with the primary quarter of 2020, gold manufacturing was considerably decrease by 45% (18,707 ounces), as processed ore is primarily being sourced from present stockpiles whereas important waste stripping operations proceed at each the Wolfshag and Otjikoto pits. Mined ore tonnage and grade proceed to reconcile nicely with Otjikoto’s useful resource mannequin, and ore manufacturing is forecast to considerably improve within the second half of 2021 when mining reaches the higher-grade zone on the base of the Wolfshag Pit. The Otjikoto Mine has a exceptional security report, with no LTI’s for the interval from March 27, 2018 till October 29, 2020, when an LTI for a fractured ankle occurred. As at March 31, 2021, the Otjikoto Mine had achieved 154 days with out an LTI.

For the primary quarter of 2021, mill feed grade was 0.82 g/t in comparison with finances of 0.79 g/t and 1.54 g/t within the first quarter of 2020; mill throughput was 0.89 million tonnes in comparison with finances of 0.84 million tonnes and 0.86 million tonnes within the first quarter of 2020; and gold restoration averaged 97.6% in comparison with finances of 97.3% and 98.4% within the first quarter of 2020.

For the primary quarter of 2021, Otjikoto’s money working prices had been $940 per ounce produced ($823 per ounce offered), under finances by $56 per ounce produced (6%), primarily on account of increased than budgeted gold manufacturing. As anticipated, Otjikoto’s money working prices had been increased within the first quarter of 2021 in comparison with $441 per ounce produced ($416 per ounce offered) within the first quarter of 2020, primarily on account of the deliberate decrease gold manufacturing.

Otjikoto’s AISC for the primary quarter of 2021were $1,475 per ounce offered (Q1 2020 – $850 per ounce offered), considerably under finances by $243 per ounce offered (14%), primarily because of decrease than budgeted money working prices and better than budgeted gold ounces offered, partially offset by increased than budgeted sustaining capital expenditures (because of increased than budgeted pre-stripping).  

Capital expenditures for the primary quarter of 2021 totaled $19 million, primarily consisting of $12 million for pre-stripping within the Otjikoto Section 3 and Wolfshag Section 3 pits, $2 million for cellular gear rebuilds and replacements and $4 million for Wolfshag underground growth.

Growth of the Wolfshag underground mine continues to progress on schedule. Within the fourth quarter of 2020, growth of the portal was accomplished, and growth of the first underground ramp commenced. Growth continued through the first quarter of 2021, and stope ore manufacturing is predicted to start in early 2022, in-line with authentic estimates. The preliminary underground Mineral Reserve estimate for the down-plunge extension of the Wolfshag orebody included 210,000 ounces of gold in 1.2 million tonnes of ore at 5.57 g/t gold.

For full-year 2021, the Otjikoto Mine is predicted to supply between 190,000 – 200,000 ounces of gold, as high-grade ore is scheduled to be sourced from Section 3 of the Wolfshag Pit within the second half of 2021. Otjikoto’s money working prices are forecast to be between $480 – $520 per ounce and AISC to be between $830 – $870 per ounce.

Roughly 70% of the gold produced in 2021 is predicted to be mined from Section 3 of the Wolfshag Pit, with materials ore manufacturing beginning early within the third quarter of 2021 following the waste stripping marketing campaign. On account of the timing of this high-grade ore mining, Otjikoto’s manufacturing is predicted to be considerably weighted to the second half of 2021. For the primary half of 2021, Otjikoto’s gold manufacturing is predicted to be between 45,000 – 50,000 ounces, earlier than growing considerably to between 145,000 – 150,000 ounces through the second half of 2021. Based mostly primarily on the weighting of the deliberate manufacturing and timing of upper waste stripping, Otjikoto’s money working prices are anticipated to be between $940 – $980 per ounce within the first half of 2021, earlier than considerably enhancing to between $330 – $370 per ounce through the second half of 2021. As well as, Otjikoto’s AISC are anticipated to be between $1,600 – $1,640 per ounce within the first half of 2021, earlier than considerably enhancing to between $580 – $620 per ounce through the second half of 2021. Within the first quarter of 2021, gold manufacturing at Otjikoto was forecast to be decrease and prices forecast to be increased than the second quarter of 2021, because of the important quantity of waste stripping and decrease stockpile grades processed early within the 12 months.    

Otjikoto’s increased 2021 gold manufacturing stage of between 190,000 – 200,000 ounces is predicted to proceed via to 2024, with manufacturing from Wolfshag underground anticipated to start in early 2022 to complement ore from the Otjikoto Pit in addition to present medium and low-grade stockpiles for roughly three years primarily based on present estimates.

2021 Growth

Gramalote Mission (B2Gold – 50%/AngloGold Ashanti Restricted – 50%) – Colombia

The Gramalote Mission, owned 50% B2Gold/50% AngloGold Ashanti Restricted (“AngloGold”) is positioned in central Colombia northeast of Medellin, within the Province of Antioquia. Following on the optimistic outcomes of the Gramalote preliminary financial evaluation in January 2020 (the “Gramalote PEA”), B2Gold commenced the Gramalote feasibility examine to judge restoration of gold from an open-pit mining operation with a 11.0 Mtpa processing plant that features crushing, grinding, flotation and a carbon-in-pulp restoration course of to supply doré bullion. The Gramalote feasibility examine method targeted solely on a manufacturing situation primarily based on the Indicated Mineral Useful resource estimate from the Gramalote Ridge deposit of 173,400,000 tonnes grading 0.73 g/t gold for a complete of 4,060,000 ounces of gold. The feasibility examine method so far has not included any potential manufacturing from the close by Trinidad deposit, which has a present Inferred Mineral Useful resource estimate, and the Monjas West zone. 

As a continuation of the Gramalote PEA, the feasibility examine method so far has additionally targeted on making use of many of the identical assumptions and parameters, with the fabric adjustments being the up to date Indicated Mineral Useful resource estimate, in addition to up to date value assumptions for gasoline, electrical energy, labour, gear, and building supplies. By design, there isn’t a materials change to the venture building or working parameters aside from refinement of the designs to feasibility ranges of confidence.


Based mostly on the feasibility examine work accomplished by B2Gold as operator of the Gramalote Mission so far, and assuming an efficient date of January 1, 2021, and a gold worth of $1,500 per ounce, the venture financial highlights embody (100% foundation):

  • Open-pit gold mine with an preliminary lifetime of mine (“LoM”) of 10.6 years primarily based on present Indicated Mineral Assets (for Gramalote Ridge solely)
  • LoM gold manufacturing of two.97 million ounces and common annual gold manufacturing of 347,000 ounces per 12 months for the primary 5 full years of manufacturing
  • Common annual gold manufacturing LoM of 281,000 ounces per 12 months at money working prices of $514 per ounce of gold and AISC of $744 per ounce of gold
  • Common LoM gold restoration of 95.4% from standard milling, flotation and cyanide leach of the flotation focus
  • Estimated pre-production capital value of $925 million (consists of roughly $160 million for mining gear)
  • LoM pre-tax internet money circulation of $1,444 million, and after-tax internet money circulation of $948 million
  • Put up-tax NPV at a 5% low cost price of $483 million
  • After-tax inner price of return (“IRR”) of 15% on the venture building choice date with a venture payback (together with building capital) of three.5 years

Based mostly on a evaluate of the feasibility examine work so far, B2Gold believes that there’s sturdy potential for a extra strong venture, which might be developed by revisiting the unique Mission design parameters included within the present mining allow as utilized within the Gramalote PEA and historic AngloGold research and additional optimizing venture design. The Gramalote Mission staff has recognized venture optimization alternatives, together with potential reductions in capital and working prices, in addition to improved operability and sustainability. As well as, growth and evaluate of the up to date Mineral Useful resource estimate has indicated that additional worth is obtainable via extra drilling of the Inferred parts of the Mineral Useful resource space, each inside and adjoining to the designed pit. 

The Gramalote Mission companions are at the moment reviewing a revised feasibility examine finances totalling $86 million which might enable the ultimate feasibility examine to be accomplished by the tip of the primary quarter of 2022 and incorporate the recognized optimization potential and a choice is predicted to be introduced shortly. The completion date of March 2022 can be anticipated to accommodate the extra Authorities six-month session and approval interval that’s required to get approval for concurrent resettlement. This represents a rise of $34 million (Firm’s share $17 million) over the preliminary introduced 2021 Gramalote Mission finances of $52 million. Together with this, B2Gold expects that adjustments in design that modify the accredited Environmental and Social Influence Evaluation (ESIA) will doubtlessly embody minor and main allow amendments impacting the event timeline of the Gramalote Mission, delaying supply of a remaining feasibility examine for the Gramalote Mission till the tip of the primary quarter of 2022. B2Gold is proposing to the Gramalote Mission that optimization efforts ought to embody persevering with exploration drilling on the Gramalote deposit with extra drilling and the Trinidad deposit and Monjas West zone, persevering with to implement the Resettlement Motion Plan, advancing the acquisition of key properties required for venture growth, getting into right into a growth settlement with an influence firm to start research to deliver energy to the Gramalote mill web site, persevering with the method of formalization and removing of artisanal miners to exterior of the commercial space, and finishing environmental and social research essential to help any potential allow modifications which might be recognized as a part of the optimization course of.

A revised schedule and finances for the proposed optimizations, continued sustainability tasks, additional exploration and completion of a remaining feasibility examine is being developed. The Gramalote Mission will proceed to advance resettlement applications, set up coexistence applications for small miners, work on well being, security and environmental tasks and proceed to work with authorities and native communities on social applications. Development of those commitments is considered as an important a part of venture growth.

The Environmental Influence Examine and Mission Implementation Plans for the Gramalote Mission have been totally accredited by the Nationwide Authority of Environmental Licenses of Colombia. Relying on the outcomes of the venture optimization research and adjustments to the venture structure, a Modified Setting Influence Examine and a Modified Mission Implementation plan could also be required. Based mostly on preliminary discussions with the Colombian authorities, the Firm expects that these potential minor or main modifications is not going to affect the license however could delay the implementation schedule (size of delay will rely upon the importance of potential modifications).  If the ultimate economics of the feasibility examine are optimistic and B2Gold and AngloGold make the choice to develop Gramalote as an open-pit gold mine, B2Gold would make the most of its confirmed inner mine building staff to construct the mine and mill services and function the mine on behalf of the Gramalote Mission.

Kiaka Growth Mission – Burkina Faso

The Firm is at the moment updating the prevailing feasibility examine for the Kiaka Mission in Burkina Faso, because of the potential for improved economics ensuing from decrease gasoline costs, different energy choices and the next gold worth. The Firm expects to finish an up to date feasibility examine for the Kiaka Mission by mid-year 2021.

Abstract and Outlook

For 2021, B2Gold stays nicely positioned for continued sturdy operational and monetary efficiency with complete gold manufacturing steerage of between 970,000 and 1,030,000 ounces, complete consolidated money working prices forecast to be between $500 and $540 per ounce and complete consolidated AISC forecast to be between $870 and $910 per ounce. The Firm’s consolidated gold manufacturing from its three working mines is forecast to be between 920,000 and 970,000 ounces in 2021. The Firm’s 2021 manufacturing steerage doesn’t, nonetheless, embody the potential upside to extend Fekola’s gold manufacturing in 2021 from extra mining from the Cardinal useful resource space and the upper than budgeted processing capability at the moment being investigated.

Because of the Firm’s sturdy internet optimistic money place, sturdy working outcomes and the present increased gold worth atmosphere, B2Gold’s quarterly dividend price is predicted to be maintained at $0.04 per frequent share (or an annualized price of $0.16 per frequent share), one of many highest dividend yields within the gold sector.

The Firm continues to advance its pipeline of growth tasks. Work continues on the Gramalote Mission. Based mostly on a evaluate of the feasibility examine work so far, B2Gold believes that there’s sturdy potential for a extra strong venture. That is anticipated to incorporate revisiting the unique Mission design parameters included within the present mining allow, additional optimizing venture design and extra drilling of the inferred portion of the Gramalote Mineral Useful resource. The Gramalote feasibility examine is now anticipated to be accomplished by the tip of the primary quarter of 2022. The Firm is at the moment additionally updating the prevailing feasibility examine for the Kiaka Mission in Burkina Faso, because of the potential for improved economics ensuing from decrease gasoline costs, different energy choices and the next gold worth. The Firm expects to have accomplished an up to date feasibility examine for the Kiaka Mission by mid-year 2021.

Following a really profitable 12 months for exploration in 2020, B2Gold has commenced an aggressive exploration marketing campaign in 2021 with a finances of roughly $66 million (excluding the Gramalote Mission). Exploration will focus predominantly in Mali, different working mine websites in Namibia and the Philippines and grassroots exploration applications world wide. A few years of goal technology and pursuing alternatives in potential gold areas have culminated within the Firm allocating a report $25 million in 2021 to top quality targets for its grassroots exploration applications, together with various new areas.

The Firm was not too long ago chosen because the recipient of 5 mining business awards in the Philippines and Mali. In the Philippines, the 2 firms that comprise the Masbate Gold Mission, Filminera Assets Company and Phil. Gold Processing & Refining Corp., obtained 4 awards within the recently-concluded 2020 Presidential Mineral Trade Environmental Awards (“PMIEA”), within the “Finest Mining Forest and Most secure Mine” classes. The PMIEAs are given to mining firms that exhibit greatest practices in security and well being administration, environmental safety and neighborhood growth. In Mali, a subsidiary of the Firm, B2Gold Mali SARL, was acknowledged by Le Baromètre, a citizen watch group that screens the efficiency of private and non-private sector organizations, as Mali’s “Finest Mining Firm of 2020”.

The Firm’s ongoing technique is to proceed to maximise worthwhile manufacturing from its mines, additional advance its pipeline of growth and exploration tasks, consider alternatives and proceed to pay a dividend.

First Quarter 2021 Monetary Outcomes – Convention Name Particulars

B2Gold executives will host a convention name to debate the outcomes on Wednesday, Could 5, 2021, at 10:00 am PST/1:00 pm EST. Chances are you’ll entry the decision by dialing the operator at +1 (778)-371-9827 / +1 (647)-427-7450 (Vancouver/Toronto) or toll free at +1 (888)-231-8191 previous to the scheduled begin time or chances are you’ll hearken to the decision by way of webcast by clicking: https://www.webcaster4.com/Webcast/Page/1493/40852. A playback model will likely be out there for 2 weeks after the decision at +1 (416)-849-0833 (native or worldwide) or toll free at +1 (855)-859-2056  (passcode 5695701).

Certified Individuals

Invoice Lytle, Senior Vice President of Operations, a professional individual beneath NI 43-101, has accredited the scientific and technical data associated to operations issues contained on this information launch.

On Behalf of B2GOLD CORP.

“Clive T. Johnson”      
President and Chief Government Officer                                 

For extra data on B2Gold please go to the Firm web site at www.b2gold.com or contact:

The Toronto Inventory Trade and NYSE American LLC neither approve nor disapprove the knowledge contained on this information launch. 

Manufacturing outcomes and manufacturing steerage offered on this information launch replicate complete manufacturing on the mines B2Gold operates on a 100% venture foundation. Please see our Annual Data Kind dated March 30, 2021 for a dialogue of our possession curiosity within the mines B2Gold operates.

This information launch consists of sure “forward-looking data” and “forward-looking statements” (collectively forward-looking statements”) throughout the which means of relevant Canadian and United States securities laws, together with: projections; outlook; steerage; forecasts; estimates; and different statements relating to future or estimated monetary and operational efficiency, gold manufacturing and gross sales, revenues and money flows, and capital prices (sustaining and non-sustaining) and working prices, together with projected money working prices and AISC, and budgets on a consolidated and mine by mine foundation; the affect of the COVID-19 pandemic on B2Gold’s operations, together with any restrictions or suspensions with respect to our operations and the impact of any such restrictions or suspensions on our monetary and operational outcomes; the power of the Firm to efficiently preserve our operations if they’re briefly suspended, and to restart or ramp-up these operations effectively and economically, the affect of COVID-19 on the Firm’s workforce, suppliers and different important sources and what impact these impacts, in the event that they happen, would have on our enterprise, our deliberate capital and exploration expenditures; future or estimated mine life, metallic worth assumptions, ore grades or sources, gold restoration charges, stripping ratios, throughput, ore processing; statements relating to anticipated exploration, drilling, growth, building, allowing and different actions or achievements of B2Gold; and together with, with out limitation: B2Gold producing working cashflows of roughly  $630 million in 2021, together with roughly $500 million within the second half of 2021; remaining nicely positioned for continued sturdy operational and monetary efficiency for 2021; projected gold manufacturing, money working prices and AISC on a consolidated and mine by mine foundation in 2021, together with manufacturing being weighted closely to the second half of 2021; complete consolidated gold manufacturing of between 970,000 and 1,030,000 ounces in 2021 with money working prices of between $500 and $540 per ounce and AISC of between $870 and $910 per ounce; consolidated gold manufacturing of between 920,000 and 970,000 ounces in 2021 with money working prices of between $480 and $520 per ounce and AISC of between $860 and $900 per ounce the Fekola mill being anticipated to run at an annualized throughput price of 8.0 Mtpa; the anticipated value, timing and outcomes for the addition of a photo voltaic plant to the Fekola Mine, together with the completion of building by the tip of the second quarter of 2021, contingent on receiving replacements for the broken parts; the Cardinal zone bulk sampling anticipated to start within the second quarter of 2021 and being added to the Fekola environmental and mining permits; the event of the Wolfshag underground mine at Otjikoto, together with the outcomes of such growth and the prices and timing thereof; stope ore manufacturing on the Wolfshag underground mine at Otjikoto commencing in early 2022; the completion of the up to date Kiaka feasibility examine, together with the timing and the outcomes thereof; the Firm’s place that Menankoto is entitled to a renewal of the Menankoto Allow beneath relevant regulation and its intention to pursue all out there authorized cures to resolve the difficulty; the outcomes of the feasibility work accomplished so far on the Gramalote Mission, together with the financial evaluation, and the Firm’s perception relating to the potential for a extra strong venture and additional optimization; the supply of a remaining feasibility examine for the Gramalote Mission within the first quarter of 2022, and the outcomes thereof; the potential fee of future dividends, together with the timing and quantity of any such dividends, and the expectation that quarterly dividends will likely be maintained on the identical stage; the provision of the RCF for future drawdowns; and B2Gold’s attributable share at El Limon and La Libertad. All statements on this information launch that handle occasions or developments that we anticipate to happen sooner or later are forward-looking statements. Ahead-looking statements are statements that aren’t historic information and are usually, though not all the time, recognized by phrases reminiscent of “anticipate”, “plan”, “anticipate”, “venture”, “goal”, “potential”, “schedule”, “forecast”, “finances”, “estimate”, “intend” or “consider” and comparable expressions or their destructive connotations, or that occasions or circumstances “will”, “would”, “could”, “may”, “ought to” or “may” happen. All such forward-looking statements are primarily based on the opinions and estimates of administration as of the date such statements are made.

Ahead-looking statements essentially contain assumptions, dangers and uncertainties, sure of that are past B2Gold’s management, together with dangers related to or associated to: the length and extent of the COVID-19 pandemic, the effectiveness of preventative measures and contingency plans put in place by the Firm to reply to the COVID-19 pandemic, together with, however not restricted to, social distancing, a non-essential journey ban, enterprise continuity plans, and efforts to mitigate provide chain disruptions; escalation of journey restrictions on folks or merchandise and reductions within the capacity of the Firm to move and refine doré; the volatility of metallic costs and B2Gold’s frequent shares; adjustments in tax legal guidelines; the risks inherent in exploration, growth and mining actions; the uncertainty of reserve and useful resource estimates; not attaining manufacturing, value or different estimates; precise manufacturing, growth plans and prices differing materially from the estimates in B2Gold’s feasibility and different research; the power to acquire and preserve any obligatory permits, consents or authorizations required for mining actions; environmental laws or hazards and compliance with complicated laws related to mining actions; local weather change and local weather change laws; the power to exchange mineral reserves and establish acquisition alternatives; the unknown liabilities of firms acquired by B2Gold; the power to efficiently combine new acquisitions; fluctuations in alternate charges; the provision of financing; financing and debt actions, together with potential restrictions imposed on B2Gold’s operations consequently thereof and the power to generate ample money flows; operations in overseas and creating nations and the compliance with overseas legal guidelines, together with these related to operations in Mali, Namibia, the Philippines, Colombia and Burkina Faso and together with dangers associated to adjustments in overseas legal guidelines and altering insurance policies associated to mining and native possession necessities or useful resource nationalization usually, together with in response to the COVID-19 outbreak; distant operations and the provision of enough infrastructure; fluctuations in worth and availability of power and different inputs obligatory for mining operations; shortages or value will increase in obligatory gear, provides and labour; regulatory, political and nation dangers, together with native instability or acts of terrorism and the consequences thereof; the reliance upon contractors, third events and three way partnership companions; the shortage of sole decision-making authority associated to Filminera Assets Company, which owns the Masbate Mission; challenges to title or floor rights; the dependence on key personnel and the power to draw and retain expert personnel; the chance of an uninsurable or uninsured loss; hostile local weather and climate circumstances; litigation danger; competitors with different mining firms; neighborhood help for B2Gold’s operations, together with dangers associated to strikes and the halting of such operations sometimes; conflicts with small scale miners; failures of data methods or data safety threats; the power to keep up enough inner controls over monetary reporting as required by regulation, together with Part 404 of the Sarbanes-Oxley Act; compliance with anti-corruption legal guidelines, and sanctions or different comparable measures; social media and B2Gold’s popularity; dangers affecting Calibre having an affect on the worth of the Firm’s funding in Calibre, and potential dilution of our fairness curiosity in Calibre; in addition to different components recognized and as described in additional element beneath the heading “Danger Components” in B2Gold’s most up-to-date Annual Data Kind, B2Gold’s present Kind 40-F Annual Report and B2Gold’s different filings with Canadian securities regulators and the U.S. Securities and Trade Fee (the “SEC”), which can be considered at www.sedar.com and www.sec.gov, respectively (the “Web sites”). The listing isn’t exhaustive of the components which will have an effect on B2Gold’s forward-looking statements

B2Gold’s forward-looking statements are primarily based on the relevant assumptions and components administration considers cheap as of the date hereof, primarily based on the knowledge out there to administration at such time. These assumptions and components embody, however usually are not restricted to, assumptions and components associated to B2Gold’s capacity to hold on present and future operations, together with: the length and results of COVID-19 on our operations and workforce; growth and exploration actions; the timing, extent, length and financial viability of such operations, together with any mineral sources or reserves recognized thereby; the accuracy and reliability of estimates, projections, forecasts, research and assessments; B2Gold’s capacity to fulfill or obtain estimates, projections and forecasts; the provision and price of inputs; the worth and marketplace for outputs, together with gold; overseas alternate charges; taxation ranges; the well timed receipt of obligatory approvals or permits; the power to fulfill present and future obligations; the power to acquire well timed financing on cheap phrases when required; the present and future social, financial and political circumstances; and different assumptions and components usually related to the mining business.

B2Gold’s forward-looking statements are primarily based on the opinions and estimates of administration and replicate their present expectations relating to future occasions and working efficiency and communicate solely as of the date hereof. B2Gold doesn’t assume any obligation to replace forward-looking statements if circumstances or administration’s beliefs, expectations or opinions ought to change apart from as required by relevant regulation. There could be no assurance that forward-looking statements will show to be correct, and precise outcomes, efficiency or achievements may differ materially from these expressed in, or implied by, these forward-looking statements. Accordingly, no assurance could be on condition that any occasions anticipated by the forward-looking statements will transpire or happen, or if any of them do, what advantages or liabilities B2Gold will derive therefrom. For the explanations set forth above, undue reliance shouldn’t be positioned on forward-looking statements.

Non-IFRS Measures

This information launch consists of sure phrases or efficiency measures generally used within the mining business that aren’t outlined beneath Worldwide Monetary Reporting Requirements (“IFRS”), together with “money working prices” and “all-in sustaining prices” (or “AISC”). Non-IFRS measures should not have any standardized which means prescribed beneath IFRS, and subsequently they might not be akin to comparable measures employed by different firms. The information offered is meant to supply extra data and shouldn’t be thought of in isolation or as an alternative to measures of efficiency ready in accordance with IFRS and needs to be learn at the side of B2Gold’s consolidated monetary statements. Readers ought to consult with B2Gold’s Administration Dialogue and Evaluation, out there on the Web sites, beneath the heading “Non-IFRS Measures” for a extra detailed dialogue of how B2Gold calculates sure of such measures and a reconciliation of sure measures to IFRS phrases.

Cautionary Assertion Concerning Mineral Reserve and Useful resource Estimates

The disclosure on this information launch was ready in accordance with Canadian Nationwide Instrument 43-101, which differs considerably from the necessities of the USA Securities and Trade Fee (“SEC”), and useful resource and reserve data contained or referenced on this information launch might not be akin to comparable data disclosed by public firms topic to the technical disclosure necessities of the SEC. Historic outcomes or feasibility fashions offered herein usually are not ensures or expectations of future efficiency.

B2GOLD CORP.
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE MONTHS ENDED MARCH 31

(Expressed in 1000’s of United States {dollars}, besides per share quantities)
(Unaudited)


2021


2020

Gold income

$

362,302


$

380,298




Value of gross sales



   Manufacturing prices

(111,632)


(91,556)

   Depreciation and depletion

(66,727)


(70,612)

   Royalties and manufacturing taxes

(26,526)


(25,731)

Complete value of gross sales

(204,885)


(187,899)




Gross revenue

157,417


192,399




Normal and administrative

(10,098)


(10,188)

Share-based funds

(1,166)


(3,647)

Neighborhood relations

(581)


(3,734)

International alternate beneficial properties (losses)

3,494


(1,232)

Share of internet revenue of affiliate

5,066


6,400

Different

(3,956)


(573)

Working revenue

150,176


179,425




Curiosity and financing expense

(2,896)


(4,517)

Positive factors (losses) on spinoff devices

8,049


(14,842)

Different

(338)


(179)

Earnings from operations earlier than taxes

154,991


159,887




Present revenue tax, withholding and different taxes

(41,126)


(63,470)

Deferred revenue tax expense

(15,033)


(13,409)

Internet revenue for the interval

$

98,832


$

83,008




Attributable to:



   Shareholders of the Firm

$

91,555


$

72,287

   Non-controlling pursuits

7,277


10,721

Internet revenue for the interval

$

98,832


$

83,008




Earnings per share

(attributable to shareholders of the Firm)



Primary

$

0.09


$

0.07

Diluted

$

0.09


$

0.07




Weighted common variety of frequent shares excellent

(in 1000’s)



   Primary

1,051,544


1,035,032

   Diluted

1,062,006


1,047,943

B2GOLD CORP.
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE THREE MONTHS ENDED MARCH 31
(Expressed in 1000’s of United States {dollars})
(Unaudited)


2021


2020

Working actions



Internet revenue for the interval

$

98,832


$

83,008

Mine restoration provisions settled


(189)

Non-cash fees, internet

75,199


104,529

Adjustments in non-cash working capital

(24,866)


31,743

Adjustments in long-term worth added tax receivables

(3,311)


(2,878)

Money supplied by working actions

145,854


216,213




Financing actions



Compensation of revolving credit score facility


(25,000)

Compensation of apparatus mortgage services

(7,227)


(10,796)

Curiosity and dedication charges paid

(911)


(3,776)

Money proceeds from inventory possibility workouts

752


16,344

Dividends paid

(42,072)


(10,368)

Principal funds on lease preparations

(735)


(829)

Distributions to non-controlling curiosity

(2,000)


Restricted money motion

111


2,104

Money utilized by financing actions

(52,082)


(32,321)




Investing actions



Expenditures on mining pursuits:



Fekola Mine

(17,396)


(74,133)

Masbate Mine

(6,564)


(4,761)

Otjikoto Mine

(18,875)


(11,732)

Gramalote Mission

(3,467)


(12,678)

Different exploration and growth

(10,171)


(9,364)

Funding of reclamation accounts

(1,321)


Different

(1,533)


(17)

Money utilized by investing actions

(59,327)


(112,685)




Improve in money and money equivalents

34,445


71,207




Impact of alternate price adjustments on money and money equivalents

(1,562)


(3,864)

Money and money equivalents, starting of interval

479,685


140,596

Money and money equivalents, finish of interval

$

512,568


$

207,939

B2GOLD CORP.
CONDENSED INTERIM CONSOLIDATED BALANCE SHEETS

(Expressed in 1000’s of United States {dollars})
(Unaudited)


As at March 31,
2021

As at December 31,
2020

Belongings



Present



Money and money equivalents

$

512,568


$

479,685

Accounts receivable, prepaids and different

30,128


21,306

Worth-added and different tax receivables

27,730


11,797

Inventories

255,462


238,055

Belongings categorised as held on the market

16,749


11,855


842,637


762,698




Worth-added tax receivables

38,854


35,383

Mining pursuits



Owned by subsidiaries and joint operations

2,351,601


2,387,020

Investments in associates

81,301


76,235

Different property

77,078


76,496

Deferred revenue taxes

9,783


24,547


$

3,401,254


$

3,362,379

Liabilities



Present



Accounts payable and accrued liabilities

$

83,475


$

89,062

Present revenue and different taxes payable

165,791


154,709

Present portion of long-term debt

33,120


34,111

Different present liabilities

7,258


8,211


289,644


286,093




Lengthy-term debt

67,025


75,911

Mine restoration provisions

92,062


104,282

Deferred revenue taxes

221,172


220,903

Worker advantages obligation

7,250


5,874

Different long-term liabilities

7,187


8,726


684,340


701,789

Fairness



Shareholders’ fairness



Share capital



Issued: 1,051,697,473 frequent shares (Dec 31, 2020 – 1,051,138,175)

2,408,804


2,407,734

Contributed surplus

51,167


48,472

Amassed different complete loss

(140,593)


(138,533)

Retained earnings

303,352


254,343


2,622,730


2,572,016

Non-controlling pursuits

94,184


88,574


2,716,914


2,660,590


$

3,401,254


$

3,362,379

SOURCE B2Gold Corp.

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