B2gold Corp. · TSX:BTO
B2gold — Merger or Acquisition (June 2014)
13 slides from B2gold's merger presentation, Jun 3, 2014
Slide 1: Proposed Merger Agreement: B2Gold Corp. and Papillon Resources Ltd.
PROPOSED MERGER AGREEMENT B2GOLD CORP. AND PAPILLON RESOURCES LTD. INVESTOR PRESENTATION JUNE 3RD 2014
Slide 2: Cautionary Statement
Cautionary Statement This presentation includes certain “forward‐looking statements” within the meaning of applicable securities laws. All statements, other than statements of historical fact, included herein including, without limitation, statements relating to B2Gold’s future operating or financia
Slide 3: Transaction Summary
Transaction Summary B2Gold will acquire all of the issued and outstanding shares of Papillon by way of a scheme of Proposed Transaction: arrangement under the Australian Corporations Act 2011. Consideration: 0.661 B2Gold Common Shares per Papillon Common Share Purchase price of A$1.72 per Papi
Slide 4: Overview of Papillon
Overview of Papillon ASX‐listed gold development company focused on Mali, West Africa Fekola Project advancing rapidly towards production Pre‐Feasibility Study confirms technical viability and robust economics of the Project Production over 306,000 ounces p.a., initial 9 year mine life Low
Slide 5: Mining In Mali
Mining In Mali 40+ Moz District Africa’s 3rd largest gold producer – over 1.3 Moz AngloGold produced 2013(1) Anglogold – 8 mines operating in a 40+ Moz District includes Fekola – Northern Mali conflict – no meaningful impact on SW Mali operations 2013 elections concluded very smoothly – Widely p
Slide 6: Papillon Pre-Feasibility Study
Papillon Pre‐Feasibility Study Results from PFS –June 2013 306,000/ozpa (Ave. LOM, 9yrs) Production: 320,000/ozpa (Ave. steady state, 8yrs) Cash Operating Cost: US$580/oz(Ave. LOM) All‐in Sustaining Cash Costs: US$725/oz (Avg. LOM) (1) US$292m (including 15% contingency) Capital Cost: (P
Slide 7: Benefits to Papillon Shareholders
Benefits to Papillon Shareholders Substantial Premium Significant and immediate premium: 21% to spot, 42% to 20‐day VWAP at June 2, 2014 Exposure to B2Gold’s enhanced liquidity over two exchanges (TSX Liquidity & AMEX) Opportunity to gain immediate exposure to B2Gold’s cash flow and Gold Produ
Slide 8: Benefits to B2Gold Shareholders
Benefits to B2Gold Shareholders Addition of a high‐grade, low‐cost conventional open pit gold High Grade project Accretive to Key Accretive on All Key ‘Per Share’ Metrics Metrics Adds Significant Gold Reserves and Resources at strong grades Increased Resources Further Builds on West African
Slide 9: Industry Leading Growth: Annual Production (koz Gold)
Industry Leading Growth New B2Gold Projected Production (koz) 1,000 ~ 925 800 (1) ~320 Annual Production (koz Gold) 585 600 555 170 170 140 410 (2) 400 366 200 200 200 220 169 200 158(2) 65 65 65 58 65 49 109 139 145 150 150 150 0 2012 2013 2014E 2015E 2016E 2017E La Libertad Limon Masbate Otjikoto
Slide 10: Unmatched Production Growth
Unmatched Production Growth… 2014-17 Attributable Gold Production Growth (%)(1,2) 115% 89% 89% 75% 50% 44% 36% 35% 33% 18% 1% (6%) (7%) (21%) African Barrick Eldorado Argonaut New Gold AuRico Gold Perseus Resolute Alamos IAMGOLD Endeavour Oceana PF B2Gold B2Gold Centamin (1) Stinger in calculation
Slide 11: About B2Gold
About B2Gold Growing Profitable Gold Producer Three producing gold mines Fully funded growth from existing assets Strong Record of Operational Execution Strong Financial Position Good Access to Capital Proven Management Team Former management and technical teams of Bema Gold Strong teams in
Slide 12: Otjikoto Construction
Otjikoto Construction Batch Plant Office 12 12
Slide 13: Otjikoto Construction
Otjikoto Construction Tailings Pond Erected Tanks Truck Carrying Waste Prefabricated Leach Tank 13 13