B2gold Corp. · TSX:BTO
B2gold — Investor Presentation (January 2016)
39 slides from B2gold's investor presentation, January 2016
Slide 1: A Profitable, Growth-Oriented, Intermediate Gold Producer
A PROFITABLE, GROWTH-ORIENTED, INTERMEDIATE GOLD PRODUCER JANUARY 2016 1
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: About B2Gold
About B2Gold Growing, Profitable Gold Producer Four producing gold mines New Otjikoto Mine in Namibia commenced production in December 2014 ahead of schedule and on budget, achieved commercial production in Q1 2015 Construction underway at the Fekola Mine in Mali Strong Record of Operational Executi
Slide 4: World Map
MALI BURKINA FASO Fekola Project Kiaka Project Masbate Mine NICARAGUA El Limon Mine La Libertad Mine COLOMBIA Gramalote Project NAMIBIA Otjikoto Mine
Slide 5: Share Capital
Share Capital Ownership Breakdown Million Shares (1) Total Shares Issued and Outstanding 927,073,436 29,537,204 Directors and Management Stock Options 62,953,806 Restricted Shares Units 1,715,691 Total Shares Fully Diluted 991,742,933 Market Capitalization (Basic) (2) CDN$1.06 billion Market Capital
Slide 6: 2015 Highlights
2015 Highlights Record annual consolidated gold production of 493,265 ounces (including 18,815 ounces of precommercial production from Otjikoto), an increase of 28% over 2014 Record year-to-date consolidated gold revenue of $553.7 million (or consolidated gold revenue of $576.8 million including $23
Slide 7: 2015-2016 Gold Production
2015-2016 Gold Production 2016 Consolidated Gold Production Guidance 510,000 -550,00 ounces of gold at a cash operating cost of $560-$595 per ounce and all-in sustaining costs of between $895-$925per ounce Masbate, Philippines – Open pit mine 2015 gold production was 175,803 ounces of gold Q-4 gold
Slide 8: 2015-2016 Gold Production (Con't)
2015-2016 Gold Production (Con’t) La Libertad Mine, Nicaragua - Open pit and underground mine 2015 production was 119,475 ounces of gold Q-4 gold production was 35,234 ounces of gold In 2016 La Libertad is projected to produce 125,000–135,000 ounces of gold at a cash operating cost of $650-$680 per
Slide 9: Mining in Namibia
Mining in Namibia ANGOLA Population of 2.3 million (2011 World Bank estimate) Strong history of mining Mining plays vital role in the Namibian economy Stable Government Encourages foreign investment WALVIS BAY Mining corporate tax rate 37.5%, NSR 3% BOTSWANA Favourable tax treatment on capital expen
Slide 10: Otjikoto Mine
Otjikoto Mine Commenced production on December 11, 2014, on budget and ahead of schedule Otjikoto (1) Probable open pit mineral reserves for the main Otjikoto ore body are 26.3 million tonnes at 1.4 g/t gold containing 1.2 million ounces of gold(2) Recently completed an updated geological model for
Slide 11: Otjikoto Gold Mine
Otjikoto Gold Mine Batch Plant Office 11 11
Slide 12: Otjikoto Project Map
Otjikoto Project Map Wolfshag Zone 12 12
Slide 13: Mining in Mali
Mining In Mali 40+ Moz District AngloGol Africa’s 3rd largest gold producer d – 8 mines operating in a 40+ Moz District includes Anglogold Fekola – Northern Mali conflict – no meaningful impact on SW Mali operations 2013 democratic elections successfully concluded – Widely praised for transparency –
Slide 14: Fekola Project, Mali
Fekola Project, Mali Merger with Papillon Resources completed on October 3, 2014 to acquire the Fekola Project and various exploration projects in Mali B2Gold Preliminary Economic Assessment filed August 13, 2014 B2Gold Final Feasibility Study filed June 11, 2015 Significant, ongoing, resource growt
Slide 15: Fekola Feasibility Highlights
Fekola Feasibility Highlights(1) Open pit gold mine with an initial production life of mine (“LOM”) 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 (based on low grade stock
Slide 16: Fekola Feasibility Highlights (Cont.)
Fekola Feasibility Highlights(1) (Cont.) 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 $38 million of early works which were completed June 30th 2015 Cumulative LOM net
Slide 17: Fekola Project, Mali: Construction Update
Fekola Project, Mali Construction Update Improving the existing access road between Kenieba and the site (complete) Construction of a new site access road (materially complete) Construction of an on-site airstrip designed to allow personnel to fly directly in and out of the site (complete) Construct
Slide 18: Kiaka Project
Kiaka Project (1)(2) One of the largest undeveloped gold resources in West Africa Volta Prefeasibility Study based on 12 million tonnes per annum plant, producing 340,000 ounces of gold per year for 10.3 years at an average operating cash cost $671 per ounce 124.1 million tonnes at 0.99 g/t gold for
Slide 19: CSR Activities
CSR Activities Strong devotion to Corporate Social Responsibility •Recipient of National CSR Award under the category of "Economic Empowerment and Community Impact“ in Nicaragua Namibia Namibia Nicaragua 19
Slide 20: Consolidated Production
Consolidated Production Projected Annualized Production Rate(koz) (1) (1) Actual (2) Based on current assumptions (3) Including 18,815 ounces of pre-commercial production from Otjikoto Mine 20 20 (4) Fekola commencing production late 2017 or early 2018, production based on average annual production
Slide 21: Growth Strategy
Growth Strategy Focus on core assets Optimize production at existing mines Cost control Brownfields exploration Potential expansion Continue Fekloa Mine construction Scheduled for production late 2017 Advance development projects Kiaka Project- Feasibility stage Gramalote Project- Permitting Maintai
Slide 22: Appendix
Appendix 22
Slide 23: Revolving Credit Facility
Revolving Credit Facility On May 20, 2015, the Company signed a credit agreement for a new $350 million Revolving Credit Facility (the “new RCF”) which, subsequently, closed June 11, 2015 4 year term maturing May 20, 2019 Allows for an accordion feature whereby the Facility may be increased to $450
Slide 24: Mining in Nicaragua
Mining in Nicaragua Long mining history with a strong Mining Law Rated the safest country in Central America Modern infrastructure and easily accessible Democratic Republic since 1990. Government supportive of foreign investment Tax regime – 3% NSR and 30% Net Profits Tax Currency pegged to USD, no
Slide 25: La Libertad 2016 Priority Exploration Targets
LA LIBERTAD 2016 Priority Exploration Targets Chamorro Chamorro 7.9m@3.78g/t 7.9m@3.78g/t e 6.1m@1.49g/t 6.1m@1.49g/t on 7.6m@1.30g/t nz 7.6m@1.30g/t mi n ti al naa te Elleen po taa E t 27.4m@0.61g/t 27.4m@0.61g/t CRIMEA CRIMEA SSaann Chamorro Chamorro -- 66holes holes//1.2km 1.2km Santa SantaElena
Slide 26: Limon 2016 Priority Exploration Targets
LIMON 2016 Priority Exploration Targets Project Budget (US$) Drilling (m) Resource (m) Exploration (m) 8,310m 4,610m 3,700m Limon $ 4,099,995 (53 holes) (22 holes) (31 holes) 55% 44% SP2 SP2--33DDH DDH// 1,000m 1,000m SP1 SP1--66DDH DDH// 33DDH DDH//450m 450m 2,000m 2,000m LIM-15-3898 LIM-15-3898 8.
Slide 27: Mining in The Philippines
Mining in The Philippines Long Mining History Good Mining Investment Climate and Strong Mineral Potential Favourable Investment/Tax regime, 30% corporate tax , 2% excise tax; income tax holiday for B2Gold until June 2016, could be extended to 2017 Government has endorsed the B2Gold / CGA merger as “
Slide 28: Masbate Overview
Masbate Masbate Pajo Pajo Mid Mid Pajo Pajo East East Trench values to: PHRC114 Overview Overview 0.99 g/t Au / 6.7m 1.29 g/t Au / 38 m PHRC112 Pajo Pajo West West Pajo Pajo 5.82 g/t Au / 3.8m PHRC079 PHRC113 1.71 g/t Au / 11 m 1.61 g/t Au / 12.2m PHRC101 2.0 g/t Au / 7.1 m PHRC119 Montana 1.82 g/t
Slide 29: Fekola 7 Stage Open Pit
Fekola 7 Stage Open Pit • 9.5 year mine life at 32Mtpa mining rate including prestripping • Initial 4 stages • 75% of reserves • Economic to $700/oz 29
Slide 30: Kiaka Project
Kiaka Project Burkina Faso Properties 30 30
Slide 31: Kiaka Deposit
Kiaka Deposit 250 Elev $1400 Au Pit Limit Volta Resources OElev Kiaka Block Model Gold Grades (g/t) -250 Elev 30002 0 100 200 300m Kiaka Deposit Section 5450N Looking NE 20 . a a ze 350 Elv l, (| B2Gold Base Case $1350 Au - Pit #43 Limit Ms+Ind+Inf 0 Elev -250 Elev INFERRED Limit a> B2GOLD 31
Slide 32: Gramalote Project, Colombia
Gramalote Project, Colombia (1) B2Gold (49%) / AngloGold (51%) B2Gold completed a Preliminary Economic Assessment in March 2014 Measured and Indicated Resource of 132.7 million tonnes grading 0.63 g/t for 2.6 million ounces of gold Inferred Resource of 239.7 million tonnes grading 0.44 g/t for 3.4 m
Slide 33: B2Gold Exploration Budget 2016 Summary
B2GOLD EXPLORATION BUDGET 2016 SUMMARY Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Nicaragua La Libertad $ 258,597 $ 262,460 $ 435,175 $ 454,613 $ 449,113 $ 444,308 $ 601,755 $ 560,945 $ 544,473 $ 512,310 $ 262,748 $ 252,410 $ 5,038,905 El Limon $ 226,690 $ 379,800 $ 375,947 $ 372,027 $ 287,347
Slide 34: Reserves Estimates
Reserves Estimates(1) As of December 31, 2014 Mineral Reserves Estimates (1) Mine Tonnes Gold Grade (g/t) Contained Gold Ounces La Libertad (4) 7,940,000 1.66 424,000 Masbate (2) 101,910,000 0.92 3,004,000 Otjikoto (3) 26,300,000 1.41 1,196,000 El Limon (2) 1,370,000 4.89 216,000 Total Probable Mine
Slide 35: Measured and Indicated Mineral Resource Estimates
Measured and Indicated Mineral Resource Estimates(1) As of December 31, 2014 Measured Mineral Resources (1) Tonnes Grade (g/t) Contained Gold Ounces Fekola(6) 53,060,000 1.89 3,224,000 Kiaka(7) 27,310,000 1.09 953,000 Gramalote(8) 14,210,000 0.79 359,000 Total Measured Mineral Resources 4,536,000 In
Slide 36: Measured and Indicated Mineral Resource Estimates
Measured and Indicated Mineral Resource Estimates (1) As of December 31, 2014 Measured and Indicated Mineral Resources (1) Mine Tonnes Gold Grade (g/t) Contained Gold Ounces Masbate(4) 131,240,000 0.92 3,893,000 La Libertad(2) 9,770,000 2.07 650,000 Otjikoto(5) 30,460,000 1.47 1,435,000 Fekola(6) 75
Slide 37: Inferred Mineral Resource Estimates
Inferred Mineral Resource Estimates (1) As of December 31, 2014 Inferred Mineral Resources (1) Mine Tonnes Gold Grade (g/t) Contained Gold Ounces Masbate(4) 9,780,000 1.16 366,000 La Libertad(2) 6,120,000 2.59 510,000 Otjikoto(5) 4,520,000 4.65 676,000 Fekola(6) 6,180,000 1.69 336,000 Kiaka(7) 27,33
Slide 38: Notes to Resource Estimates
Notes to Resource Estimates Notes: (1)Mineral Resources are estimated using best practices as defined by the CIM and reporting of Mineral Resources is compliant and in accordance with the disclosure requirements of NI 43-101. Mineral Resources that are not Mineral Reserves do not have demonstrated e
Slide 39: Contact Details
Contact Details B2Gold Corp. 3100 - 595 Burrard Street P.O. Box 49143 Vancouver BC V7X 1J1, Canada Tel: +604 681 8371 Fax: +604 681 6209 investor@b2gold.com www.b2gold.com Clive Johnson President, CEO +604 681 8371 Ian MacLean Vice President, Investor Relations +604 681 8371 39