B2gold Corp. · TSX:BTO
B2gold — Investor Presentation (November 2022)
40 slides from B2gold's investor presentation, November 2022
Slide 1: A Low-Cost International Senior Gold Producer
ACQUIRE | DISCOVER | FINANCE | BUILD | OPERATE A LOW-COST INTERNATIONAL SENIOR GOLD PRODUCER November 2022 TSX: BTO NYSE AMERICAN: BTG NSX: B2G
Slide 2: Cautionary Statement
CAUTIONARY STATEMENT 2 Production results and production guidance presented in this presentation reflect total production at the mines B2Gold operates on a 100% project basis. Please see our Annual Information Form dated March 30, 2022 (“2022 AIF”) for a discussion of our ownership interest in the m
Slide 3: Mine & Project Locations
MINE & PROJECT LOCATIONS 3 2 1 1. B2Gold (operator): 50%/AngloGold Ashanti Limited (“AngloGold”): 50% 2. Includes Anaconda area (comprised of the Menankoto Permit and Bantako North Permit) and Dandoko
Slide 4: Health & Safety Performance
HEALTH & SAFETY PERFORMANCE 4 Q3 2022 HIGHLIGHTS (as of September 30, 2022): B2GOLD HISTORICAL LTIFR: 0.45 Lost time injury frequency rate (“LTIFR”)1: 0.04 (0.06 in 2021) reduced by 33% 0.4 0.41 0.35 Total recordable injury frequency rate (“TRIFR”): 0.27 (0.27 in 2021) +/- (0 %) no change 0.3 0.25 0
Slide 5: Occupational Health & Safety
OCCUPATIONAL HEALTH & SAFETY 5 LTIFR & TRIFR B2Gold: 2021 MSRT1 Comparison 2021 TRIFR 2.4 ICMM2 TRIFR LTIFR 2.2 2.11 Frequency calculation based on OSHA3 – 200 K hours x # of incidences / hours worked Avg 0.59 (2020) 2 MSRT Avg 1.79 0.78 1.8 1.69 (2021) 1.6 1.46 0.27 1.4 1.31 B2Gold (-54%) Consol. 1
Slide 6: Commitment to Sustainability
COMMITMENT TO SUSTAINABILITY 6 Standards & Initiatives Our policies and standards align with the ICMM Principles and the International Finance Corporation Performance Standards Our human rights management approach aligns with the UN Guiding Principles on Business and Human Rights, and we implement t
Slide 7: Keys to B2Gold's International Success
KEYS TO B2GOLD’S INTERNATIONAL SUCCESS 7 PROVEN TRACK RECORD B2GOLD’S GUIDING OF BEMA GOLD AND B2GOLD BUSINESS PRINCIPLES: MANAGING POLITICAL RISK FAIRNESS | RESPECT AND SUCCEEDING TRANSPARENCY | ACCOUNTABILITY IN COUNTRIES AROUND THE WORLD Always delivering on our promises Dedicated senior executiv
Slide 8: Strong & Profitable Production Profile
STRONG & PROFITABLE PRODUCTION PROFILE 8 Annual Gold Production Growth (oz) Fekola Mine, Mali La Libertad Mine, Nicaragua Attributable production from Calibre Mining Corp. (“Calibre”) Total consolidated all-in sustaining costs (“AISC”)1 /oz sold Otjikoto Mine, Namibia El Limon Mine, Nicaragua Masbat
Slide 9: Corporate Strategy 2022
CORPORATE STRATEGY 2022 9 Maintain the highest standards of responsible mining, government relationships, Health, Safety & Environment stewardship and Corporate Social Responsibility (“CSR”) programs Maximize profitable gold production from existing mines while increasing Mineral Reserves and Minera
Slide 10: 2022 Guidance
2022 GUIDANCE 10 Gold Production, Costs, Gold Revenue & Cash Flows from Operating Activities Gold production1,2: Gold revenue5: 990 Koz - 1,050 Koz approx. $1.76 B Cash operating costs3,4: Cash flows from operating $620 - $660 /oz activities5: approx. $575 M AISC 3,4: Expected to be $1,010 - $1,050
Slide 11: Q3 2022 Gold Production, Costs, Revenue & Cash Flows
Q3 2022 11 Gold Production, Costs, Gold Revenue & Cash Flows from Operating Activities Gold production: Cash operating costs2,3: 2022 GUIDANCE1: Q1 20221: 990 Koz - 1,050 Koz 208,365 oz Q3 $824 /oz produced FEKOLA: 129,933 oz FY $620 - $660 /oz (guidance) AISC2,3: MASBATE: 49,902 oz Q3 $1,169 /oz so
Slide 12: Strong Financial, Liquidity & Cash Position
STRONG FINANCIAL, LIQUIDITY, & CASH POSITION 12 As of September 30, 2022, B2Gold had cash and cash equivalents of $549 M (December 31, 2021: $673 M) On December 16, 2021, B2Gold entered into a revised revolving credit facility agreement with its existing syndicate of banks. The maximum available for
Slide 13: Fekola Complex Development
FEKOLA COMPLEX DEVELOPMENT 13 Fekola Mine: the annualized throughput rate is now expected to average 9.0 Mtpa for 2022 (and over the long term), based on an ore blend including fresh rock and weathered material (saprolite); provides stable production base of +500 Koz of gold per annum for the near f
Slide 14: Fekola Mine Schematic Long Section: West-Facing
FEKOLA MINE SCHEMATIC LONG SECTION: WEST-FACING 14
Slide 15: Cardinal/FMZ
CARDINAL/FMZ 15 Exploration/Development Update After review of an Environmental and Social Impact Assessment by the Malian authorities, the existing Medinandi (Fekola) Permit has been updated to include the Cardinal zone Updated Mineral Resource estimate for the Cardinal zone1 includes an initial In
Slide 16: Cardinal Long Section Looking Northwest
CARDINAL LONG SECTION LOOKING NORTHWEST 16
Slide 17: Anaconda Area: The Mamba Zone
ANACONDA AREA: THE MAMBA ZONE1 17 Mamba Schematic Long Section: West-Facing Menankoto Permit Bantako North Permit BND_119 9.48 g/t Au over 14.6m; BND_108 5.6 g/t Au over 12.5m and 5.89 g/t Au over 28.7m; and MSD_220 5.16 g/t Au over 6.58m: excellent examples of high-grade sulphide shoot, with well-d
Slide 18: Anaconda Area: The Cobra Zone
ANACONDA AREA: THE COBRA ZONE1 18 Cobra Schematic Long Section: West-Facing Cobra exploration has intersected both saprolite and sulphide of significant grade/width combinations Mineralization is thought to have shallow north plunge, though still open to both north and south, along strike 1. The Cob
Slide 19: Anaconda Area Ongoing Exploration
ANACONDA AREA 19 Ongoing Exploration Highlights Expansion of Mamba sulphide Resource Positive results from drilling at Cobra on both the Menankoto and Bakalobi permits Plan for Q4 2022 Continue Mamba sulphide exploration drilling Infill and extend Cobra southward on Bakalobi
Slide 20: 2022 Exploration Budget
2022 EXPLORATION BUDGET1 20 Mali Grassroots Fekola Deeps, Fekola North, Cardinal/FMZ and Finland: $11 M is budgeted for 17,000 m of DD Anaconda area2: $35 M is budgeted for 146,500 m for the Central Lapland JV with Aurion of DD and RC drilling Resources Ltd. The JV ground lies immediately to the wes
Slide 21: Sustainability
21 SUSTAINABILITY
Slide 22: Sustainable Development
SUSTAINABLE DEVELOPMENT 22 The mining industry must play a key role in sustainable development B2Gold takes a unique approach to delivering positive impacts in environmental, social and governance aspects with its many stakeholders
Slide 23: Our Economic Contribution
23 OUR ECONOMIC CONTRIBUTION Our economic contribution is measured by the economic value that we generate for others, including employment wages, payments to governments through taxes and royalties, local procurement and the investments we make in the communities in which we operate 2021 ECONOMIC CO
Slide 24: Our Environment
OUR ENVIRONMENT 24 We are committed to conserving the quality of the natural environment in the areas in which we operate, in addition to collectively minimizing our impact
Slide 25: Our Environment: Industry Best Practices
25 OUR ENVIRONMENT INDUSTRY BEST PRACTICES: Implementation of progressive rehabilitation measures across all operations to minimize costs and environmental liability Continued implementation of mangrove and coral reef rehabilitation efforts in the Philippines Tailings management practices and report
Slide 26: Our People
26 OUR PEOPLE As a responsible miner, we believe in preventing harm and protecting the health, safety, and well-being of our workers, contractors and the communities in which we operate B2Gold generates and provides opportunities for employees to develop, train and acquire new and transferable skill
Slide 27: Our People: 2022 Workforce
OUR PEOPLE 27 2022 WORKFORCE (as of September 30, 2022): 5,090employees globally (2021: 4,689) 97.8% local employment (2021: 97%)1 66.1% senior management2 roles filled by local employees (2021: 56%) EQUITY, DIVERSITY AND INCLUSION (as of September 30, 2022): 14% of workforce identify as female3 (20
Slide 28: Our Communities
OUR COMMUNITIES 28 We strongly believe that it is our responsibility to openly and respectfully engage with local stakeholders in order to leave a positive legacy with communities that will last beyond the life of our mines
Slide 29: Our Communities: Mali & Namibia
OUR COMMUNITIES 29 Mali & Namibia MALI: Updated 3-year Community Development Plan for 2022 to 2025 Ongoing livelihood activities to provide alternatives to artisanal and small-scale mining, including fish and poultry farming NAMIBIA: Ongoing funding of a secondary school environment and sustainable
Slide 30: Our Communities: The Philippines & Colombia
OUR COMMUNITIES 30 The Philippines & Colombia THE PHILIPPINES: Implementation of annual Social Development and Management Program for 41 communities Ongoing financial support to high school and college student scholars. Continuous support to a local training centre – improvement to facilities, staff
Slide 31: Appendix
31 APPENDIX
Slide 32: Responsible Mining: Recent Awards
RESPONSIBLE MINING 32 Recent Awards AWARD FROM LOCATION 2021 Outstanding Labor Management Cooperation for Industrial Peace Masbate Gold Project (“MGP”), National Conciliation & Mediation Board Award The Philippines1 2021 Sustainability Award Prospectors & Developers Association of Canada Corporate 2
Slide 33: Grassroots Exploration: Ikkari Prospect, Finland
33 Rupert Resources’ Ikkari discovery 7km of prospective host structure on B2Gold-Aurion JV ground GRASSROOTS EXPLORATION: IKKARI PROSPECT: FINLAND
Slide 34: Grassroots Exploration: Kyzylkum Gold Province
Resources № Target Grade g/t Au (Moz) 34 1 Muruntau 150.0 2.50 2 Mutenbay 5.0 2.60 3 Chukurkuduk 4.6 2.70 4 Besapantau 1.4 2.00 5 Balpantau 2.3 0.99 6 Aristantau 1.2 1.44 7 Amantayutau 8.0 8.00 8 Daugystau 1.4 2.00 9 Adjibugut 4.5 1.50 10 Lalazor 2.5 6.50 Muruntau (150 Moz) Total without 30.9 Murunt
Slide 35: Probable Mineral Reserve Statement
PROBABLE MINERAL RESERVE STATEMENT 35 As of December 31, 2021 100% Project Basis Attributable Ownership Basis Mine or Contained Contained Country Ownership Gold Grade Gold Project Tonnes Gold Grade Gold Tonnes Percentage (g/t Au) Ounces (x 1,000) (g/t Au) Ounces (x 1,000) (%) (x 1,000) (x 1,000) Mal
Slide 36: Notes to Mineral Reserves
NOTES TO MINERAL RESERVES 36 1. Mineral Reserves have been classified using the CIM Standards. All tonnage, grade and contained metal content estimates have been rounded; rounding may result in apparent summation differences between tonnes, grade, and contained metal content. 2. Fekola Mine: Mineral
Slide 37: Indicated Mineral Resource Statement
INDICATED MINERAL RESOURCE STATEMENT1,2 37 As of December 31, 2021 100% Project Basis Attributable Ownership Basis Country Mine or Project Contained Gold Attributable Contained Gold Tonnes Gold Grade Tonnes Gold Grade Ounces Percentage Ounces (x 1,000) (g/t Au) (x 1,000) (g/t Au) (x 1,000) (%) (x 1,
Slide 38: Inferred Mineral Resource Statement
INFERRED MINERAL RESOURCE STATEMENT1 38 As of December 31, 2021 100% Project Basis Attributable Ownership Basis Country Mine or Project Contained Gold Attributable Contained Gold Tonnes Gold Grade Tonnes Gold Grade Ounces Percentage Ounces (x 1,000) (g/t Au) (x 1,000) (g/t Au) (x 1,000) (%) (x 1,000
Slide 39: Notes to Mineral Resources
NOTES TO MINERAL RESOURCES 39 1. Mineral Resources have been classified using the CIM Standards. Mineral Resources are reported inclusive of those Mineral Resources that have been modified to Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viabilit
Slide 40: Contact Details
40 CONTACT DETAILS B2Gold Corp. Clive Johnson Suite 3400 President, CEO & Director 666 Burrard Street +1 604 681 8371 Vancouver, BC Canada, V6C 2X8 Randall Chatwin SVP, Legal & Corporate Communications Tel: +1 604 681 8371 +1 604 681 8371 Fax: +1 604 681 6209 Michael McDonald Email: investor@b2gold.