B2gold Corp. · TSX:BTO
B2gold — Investor Day (October 2020)
91 slides from B2gold's investor day presentation, Oct 22, 2020
Slide 1: B2Gold Analyst Day 2020
B2GOLD ANALYST DAY 2020 Virtual | October 22 TSX: BTO NYSE AMERICAN: BTG NSX: B2G
Slide 2: Welcome & Introduction
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Slide 3: Presenters: Johnson, Lytle, Garagan
3 CLIVE JOHNSON President, CEO & Director BILL LYTLE SVP, Operations TOM GARAGAN SVP, Exploration
Slide 4: Presenters: Cinnamond, Reeder
4 MICHAEL CINNAMOND SVP, Finance & CFO NEIL REEDER VP, Government Relations
Slide 5: Cautionary Statement
CAUTIONARY STATEMENT 5 Tom Garagan, Senior Vice President of Exploration, a Qualified Person as defined by National Instrument 43-101, has approved the scientific and technical information concerning B2Gold Corp. ("B2Gold") discussed in this presentation. All amounts in this presentation are express
Slide 6: Operations Overview
6 OPERATIONS OVERVIEW
Slide 7: Health & Safety
7 HEALTH & SAFETY
Slide 8: Our Safety Response
OUR SAFETY RESPONSE 8 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. 2020 HIGHLIGHTS (as at September 30, 2020) • Best safety performance in company history with: • LTIFR1: 0
Slide 9: Occupational Health & Safety
OCCUPATIONAL HEALTH & SAFETY 9 Q3 2020 Review
Slide 10: Occupational Health and Safety Industry Benchmarks
OCCUPATIONAL HEALTH AND SAFETY INDUSTRY BENCHMARKS 10 ICMM MEMBERS – B2Gold Q3 2020 ICMM Member B2Gold Total Injury Frequency Rate - ICMM 9 (rate is per 1 M hours worked – rate converted B2Gold) 8 7.97 7 6 ICMM (International Council on Mining and Metals) 5 5.42 5.26 4.96 4 4.4 4.39 ICMM TRIFR avera
Slide 11: COVID-19 Response Plan & Measures
COVID-19 RESPONSE PLAN & MEASURES 11 General Update B2Gold continues to monitor COVID-19 across its operations and has implemented measures consistent with the WHO/CDC and national health authorities’ guidelines and standards to ensure the health and safety of its employees In Mali, Namibia, the Phi
Slide 12: Production 2020
12 PRODUCTION 2020
Slide 13: Fekola Mine: Mali
13 FEKOLA MINE: MALI
Slide 14: Fekola Q3 & 2020 Production
FEKOLA Q3 & 2020 PRODUCTION 14 Against Budget Q3 2020 YTD 2020 ACTUAL BUDGET % ACTUAL BUDGET % Mined Ore 2,011,603 961,752 209% 6,315,415 6,196,024 102% Grade g/t1 1.54 1.44 107% 2.82 2.76 102% Mined Waste 12,771,203 16,424,248 78% 34,373,079 38,241,476 90% Mined Tonnes 14,782,806 17,386,000 85% 40,
Slide 15: Expansion Project: Mill Upgrades
EXPANSION PROJECT 15 Mill Upgrades Mill Expansion Project • Expansion construction crew largely demobbed by the end of the third quarter; minor works remained • Total days worked on the project: 396 • Work-hours: 400,000 hrs • Completed on schedule despite delays in equipment arrivals on site and a
Slide 16: Expansion Project: Solar Project
EXPANSION PROJECT 16 Solar Project Solar Project – Re-mobilisation and Commence Works: • Re-establishment on site of most urgent areas/ grass cutting • Started works on PV Transformer foundations • Pull-out tests/confirming foundation method • PV Transformers last shipment received (last major shipm
Slide 17: Masbate Mine: The Philippines
17 MASBATE MINE: THE PHILIPPINES
Slide 18: Masbate Q3 & 2020 Production
MASBATE Q3 & 2020 PRODUCTION 18 Against Budget Q3 2020 YTD 2020 ACTUAL BUDGET % ACTUAL BUDGET % Ore Tonnes '000 1,534 1,562 98% 4,441 4,091 109% Grade g/t 1.10 1.20 92% 1.02 1.13 90% Mined Waste 5,908 7,089 83% 16,140 21,080 77% Mined Tonnes '000 7,442 8,651 86% 20,581 25,171 82% Milled Tonnes '000
Slide 19: Otjikoto Mine: Namibia
19 OTJIKOTO MINE: NAMIBIA
Slide 20: Otjikoto Q3 & 2020 Production
OTJIKOTO Q3 & 2020 PRODUCTION 20 Against Budget Q3 2020 YTD 2020 ACTUAL BUDGET % ACTUAL BUDGET % Ore Tonnes '000 1,036 733 141% 4,570 4,266 107% Grade g/t 1.03 1.75 59% 1.05 1.22 86% Mined Waste 11,347 10,648 107% 27,404 28,328 97% Mined Tonnes '000 12,384 11,380 109% 31,974 32,595 98% Milled Tonnes
Slide 21: Wolfshag Underground Decline
WOLFSHAG UNDERGROUND 21 DECLINE 9 6 parking bay workshop 7 8 settlers shotcrete plant CRF slurry plant sump ramp 4 sump 5 3 waste dump 2 1 1 Mine out OTJ2 to design (1335 level): 31 Jul - 8 Aug 2 Prod. Drill, Blast and doze in OTJ2 South 1365 fill ramp: 8 - 19 Aug 3 GC Drill, Prod. Drill, Blast & mi
Slide 22: Otjikoto Mine: WLF Underground Project I
OTJIKOTO MINE 22 WLF Underground Project I UG Mine Plan • WLF orebody extends down plunge below the Phase 3 Wolfshag pit • Mineral Reserves were disclosed in the 2019 AIF, and in-pit portal work has commenced Ore Tonnes 1,569,000 (recovered) • An internal scoping study was undertaken in collaboratio
Slide 23: Otjikoto Mine: Wolfshag Underground Project II
OTJIKOTO MINE 23 Wolfshag Underground Project II Wolfshag UG
Slide 24: Gramalote Project: Colombia Location Map
GRAMALOTE PROJECT: COLOMBIA 24 Location Map
Slide 25: Gramalote Project: Preliminary Economic Assessment
GRAMALOTE PROJECT: COLOMBIA 25 Preliminary Economic Assessment (“PEA”) • Gramalote Project is a JV between B2Gold (50%) and AngloGold Ashanti (“AGA”) (50%) – after B2Gold sole-funded the first $13.9 M of expenditures in 2020, B2Gold assumed the role of manager of the JV on January 1, 2020. The local
Slide 26: Gramalote PEA: Highlights
GRAMALOTE PEA: HIGHLIGHTS 26 Assuming an effective date of January 1, 2020, and a gold price of $1,350 /oz, Gramalote Ridge project economic highlights from the PEA include: • An open-pit gold mine with an initial life of mine (“LoM”) of • LoM pre-tax net cash flow of $1,827 M and after-tax net 13.6
Slide 27: Gramalote Goals for Definitive Feasibility Study
27 GRAMALOTE GOALS FOR DEFINITIVE FEASIBILITY STUDY Advances in 2020: • Completed a PEA in Q1 2020 • Continued to build positive working relationships with partner AGA, governments and communities • Continued to communicate and promote B2Gold culture and values • Complied with the EIA requirements t
Slide 28: Gramalote Project: Colombia
GRAMALOTE PROJECT: COLOMBIA 28
Slide 29: Projected Production to 2024
PROJECTED PRODUCTION TO 2024 29 B2Gold Consolidated Production Oz Existing Mines Gramalote Project 1200 1000 800 (koz) 600 400 200 0 2020 2021 2022 2023 2024 Notes: 1. See resource and reserves tables on slides 86-90 3. 2020 Production includes attributable share of Calibre’s production 2. Gramalote
Slide 30: Sustainability 2020
30 SUSTAINABILITY 2020
Slide 31: Our People
OUR PEOPLE1 31 As a responsible employer, B2Gold generates and provides opportunities for employees to develop, train, and acquire new and transferable skills. We maintain a high local employment rate and remain focused and committed to improving our gender ratio within the company. 2020 HIGHLIGHTS
Slide 32: Our Environment
OUR ENVIRONMENT 32 We are committed to conserving the quality of the natural environments in the areas in which we operate in addition to collectively minimizing our impact. INDUSTRY BEST PRACTICES • Implementation of progressive rehabilitation measures across all operations to minimize costs and en
Slide 33: Our Communities Part I
OUR COMMUNITIES 33 Part I 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. 2020 HIGHLIGHTS (as at September 30, 2020) MALI: • Successful comple
Slide 34: Our Communities Part II
OUR COMMUNITIES 34 Part II 2020 HIGHLIGHTS CONT. (as at September 30, 2020) NAMIBIA: • Namibian Rhino Gold Bar campaign • Ongoing support and funding of high school environment and sustainable development scholarship and internship program • Construction and opening of two schools in marginalized co
Slide 35: ESG Disclosure
ESG DISCLOSURE 35 ESG INFORMATION REQUESTS • B2Gold receives regular ESG information requests from ESG Rating Companies – CDP, Corporate Knights, ISS*, MSCI*, Refinitiv, Sustainalytics*, and Vigeo Eiris, in addition to requests from other organizations B2GOLD’S ESG DISCLOSURE • Annual Responsible Mi
Slide 36: Q&A
36 Q&A
Slide 37: Exploration Overview
37 EXPLORATION OVERVIEW
Slide 38: Worldwide Exploration 2020 Budget
WORLDWIDE EXPLORATION 38 2020 Budget 14%
Slide 39: Exploration Drilling
EXPLORATION DRILLING 39 To the End of September 2020 Country Project Area # Holes All (m) DD DD (m) RC RC (m) AC_RAB AC_RAB (m) Auger Auger (m) Total (m) Mali Bantako North 139 22,393 16 4,456 123 17,937 Mali Mandiela 513 8,011 513 8,011 Mali Medinandi 245 43,047 92 23,696 153 19,351 Mali Menankoto_
Slide 40: Mali Drill Progress
MALI DRILL PROCESS 40 Drilling Progress to October 1, 2020: Meters Prospect Type # Holes Completed 2020 Budget Menankoto & Bantako Mamba RC 58 9,132 Mamba DDH 29 9,338 Anaconda - Adder RC 67 8,751 Cascabel RC 3 438 sub total 157 27,659 41,374 Medinandi Cardinal - FMZ RC 149 18,593 Cardinal - FMZ DDH
Slide 41: Fekola Mine
FEKOLA MINE 41 Fekola Deposit: Schematic Long Section (West-Facing)1 1 1. The Mineral Reserve estimate excludes 894,878 oz of gold produced in 2018 and 2019
Slide 42: Cardinal-FMZ Area
CARDINAL-FMZ AREA 42 Exploration Update Approx. 33,000 m of combined reverse circulation and diamond drilling on the Cardinal-FMZ area completed in 2020 New high-grade drill results now extend the gold mineralization at the Cardinal-FMZ area to over 3.5 km along strike continuing to indicate the pot
Slide 43: Cardinal-FMZ Area: Long Section
CARDINAL-FMZ AREA 43 Cardinal Zone: Schematic Long Section (NW) 1
Slide 44: Anaconda Area
ANACONDA AREA 44 Exploration Update An Inferred Mineral Resource estimate for the Anaconda BNR_227 25m@2.4 g/t area of 767,000 oz of gold at 1.1 g/t in near surface saprolite mineralization over 4.5 km and up to 500 m BNR_191 34m@4.1 g/t wide previously announced MSD_179 31.2m@4.9 g/t The exploratio
Slide 45: Anaconda Area: Mamba Zone Long Section
ANACONDA AREA 45 Mamba Zone: Schematic Long Section (West-Facing)
Slide 46: Namibia Exploration October 2020
NAMIBIA EXPLORATION OCTOBER 2020 46 Diamond drilling ML169 OTG Shoot 3 DDholes totalling 1600 m complete 4 DDholes totalling 2100 m remains Complete assays for 1 DDholes received Otjikoto South 6 DDholes totalling 1800 m complete 5 DDholes totaling 1400 m remains All assays pending Wolfshag Deep 8 D
Slide 47: Namibia Exploration: Wolfshag Longsection
NAMIBIA EXPLORATION OCTOBER 2020 47 Wolfshag Longsection looking WNW OT19-508W1 intersected Wolfshag WE shoot over 1 km downplunge from the planned UG development Wolfshag WA planned to be infilled downplunge from a designated exploration drift (in blue, right) EXPL-Drift converts to High grade shoo
Slide 48: Masbate Exploration
MASBATE EXPLORATION 48 2020 Drilling • Focused on drilling near mine targets • Drilling sterilization/exploration for BlueQuartz Waste Rock Dump AREA NO. OF HOLES TOTAL METERS PANIQUE 23 4,547.8 HMB EAST 14 3,621.7 DABU 17 3,546.1 MAIN VAIN 15 3,029.7 LIBRA EAST 14 2,699.9 HM NORTHWEST 8 1,335.0 BIN
Slide 49: Gramalote PEA Resources
GRAMALOTE 49 PEA Resources (January 2020) Trinidad (US$1500 Resource Pit Shell) Gramalote Ridge Resource at Class Tonnes Au-g/t Ounces-Au Ag-g/t Ounces-Ag USD$1500: Inf 17,532,783 0.60 340,361 1.16 651,159 • Indicated: 2.14Moz Au (78.2Mt @ 0.85 g/t Au) Gramalote, Trinidad & Monjas West Resources rep
Slide 50: Gramalote Ridge Feasibility Drilling
GRAMALOTE RIDGE 50 Feasibility Drilling 2019 - 2020 Feasibility drill program completed 44,623 m in 123 holes in 2019- 2020 Resource model update in progress and will be delivered to Operations in mid November 2020
Slide 51: Gramalote Section 27.5 NE
51 GRAMALOTE SECTION 27.5 NE Infill Results 2019 - 2020 GR20-283 • 1.30 g/t over 100 m GR20-291 • 1.63 g/t over 10 m • 1.53 g/t over 12 m
Slide 52: Gramalote Section 25 NE
52 GRAMALOTE SECTION 25 NE Infill Results 2019 - 2020 GR20-256 • 1.50 g/t over 115.2 m GR20-280 • 1.29 g/t over 207.0 m GR20-269A • 0.87 g/t over 98.7 m
Slide 53: Finland
FINLAND 53 Rupert Resources 2020 new discoveries, including Ikkari, of economic gold intercepts over significant widths adjacent to the B2 Aurion JV permit boundary demonstrates the underexplored nature and high potential of this land package Ikkari 7km of prospective host structure discovery on B2
Slide 54: Q&A
54 Q&A
Slide 55: Financial Overview
55 FINANCIAL OVERVIEW
Slide 56: YTD 2020 & Q3 2020 Consolidated Results
YTD 2020 & Q3 2020 CONSOLIDATED RESULTS 56 Gold Production, Costs & Cost Guidance GOLD PRODUCTION1: - First Quarter CASH OPERATING COSTS2,3: 2020 (“Q1”) 2020 GUIDANCE: 264,862 oz $415 1,000 Koz - - (quarterly record) $455 $390 $390 1,055 Koz (/OZ) (/OZ PRODUCED) (/OZ PRODUCED) Q3 YTD Cash 2020 GUIDA
Slide 57: 2020 Consolidated Guidance
2020 CONSOLIDATED GUIDANCE 57 Projected Gold Production, Costs, Gold Revenue & Cash Flows from Operating Activities Gold production: Projected gold revenue2: 1,000 Koz - 1,055 Koz approx. $1.8 B Cash operating costs1: Projected cash flows from $415 - $455 /oz operating activities2: approx. > $900 M
Slide 58: Strong Financial, Liquidity & Cash Position
STRONG FINANCIAL, LIQUIDITY & CASH POSITION 62 As at June 30, 2020, B2Gold was in a net cash RCF: $600 M position of $157 M , with cash and cash Additional accordion feature available: $200 M equivalents of $628 M exceeding debt balances of $471 M1 Debt reduction in 2020: B2Gold’s Board of Directors
Slide 59: Q&A
59 Q&A
Slide 60: Government Relations Overview
60 GOVERNMENT RELATIONS OVERVIEW
Slide 61: Political Transition in Mali
POLITICAL TRANSITION IN MALI 61 Mali stable after the August 18 military seizure of power A non-violent and non-ideological change of government that had wide popular support New interim government has been named, headed by President Bah N’Daou, a retired Air Force Colonel Interim government has com
Slide 62: New Mining Minister
NEW MINING MINISTER 62 Lamine Seydou Traoré is the new Minister of Mines, Energy and Water Traoré is a technocrat, and was previously Deputy Managing Director of the Orange Mali telecoms group Most recently, he served on the government’s ICT Regulatory Council His appointment is being well received
Slide 63: Mining at Fekola Continues on Track
MINING AT FEKOLA CONTINUES ON TRACK 63 The political events of recent months had no impact on production across Mali’s mining sector Mining and milling at Fekola continued at normal levels and B2Gold in line to meet 2020 production targets Fekola supply lines were not affected during this period
Slide 64: Mali Gold Production on the Increase
MALI GOLD PRODUCTION ON THE INCREASE 64 Mali’s gold exports increased by 6.5% to 65.6 tonnes (2.3 Moz) in 2019, compared to 2018 B2Gold’s Fekola mine produced 20% of Mali’s total gold exports in 2019 Volume of Mali’s gold exports for 2020 not expected to be affected by the political events
Slide 65: COVID-19 Impact on Philippines Mining Sector
COVID-19 IMPACT ON PHILIPPINES MINING SECTOR 65 World Bank estimates the Philippine economy may contract by as much as 6.9% this year due to covid impact The Philippines Mines and Geosciences Bureau estimates that 138,000 jobs were lost in the metallic and non- metallic sectors due to covid lockdown
Slide 66: Positive Shift in Attitudes Toward Mining
POSITIVE SHIFT IN ATTITUDES TOWARD MINING 66 Some shift in attitudes towards mining on the part of the government Secretary of DENR Cimatu has been supportive of the sector, and visited our Masbate mine which he called the best run mine in the Philippines • He was particularly impressed by our mine
Slide 67: Sale of Government-Held Mining Assets
SALE OF GOVERNMENT-HELD MINING ASSETS 67 In comments earlier this month, Philippines Finance Secretary, Dominguez, said the government wants to see resumption of mining at idle state-owned assets in the nickel and copper sectors Dominguez said the government must push the revival of mining which he
Slide 68: Positive Government Campaign on Mining
POSITIVE GOVERNMENT CAMPAIGN ON MINING 68 A new government-run PR program promotes sustainable and responsible mining across the Philippines and explains the benefits of mining to communities This initiative is a turn-around from 2017 when under the previous DENR Secretary, audits were undertaken ag
Slide 69: Namibian Gold Exports Strong
NAMIBIAN GOLD EXPORTS STRONG 69 Mining provides 12% of Namibia’s GDP, 50% of forex earnings, and employs more than 20,000 Gold exports are the strongest performer in the mining sector B2Gold is the largest gold producer in the country
Slide 70: Otjikoto Operating During COVID Period
OTJIKOTO OPERATING DURING COVID PERIOD 70 Namibian government making every effort to keep the mining sector in production during COVID period, while respecting health and safety Otjikoto mine maintained production throughout this period and is on track to meet 2020 production targets
Slide 71: Foreign Investment in Mining Sector
FOREIGN INVESTMENT IN MINING SECTOR 71 Namibian Central Bank estimates that of the USD $3.6 B in new foreign investment seen in the past decade, 80% went to the mining sector B2Gold is the largest Canadian investor in Namibia Total Canadian investment in Namibia is now CAD $1.3 B, greater than Canad
Slide 72: Colombia Economic Picture
COLOMBIA ECONOMIC PICTURE 72 Colombia entering a recession as the country deals with second wave of coronavirus; GDP decline of 6% this year Two years remaining in the mandate of President Duque His centre-right government will likely focus on advancing economic and fiscal reforms, social policy, at
Slide 73: Strong Support for Mining Investment
STRONG SUPPORT FOR MINING INVESTMENT 73 National government has identified 33 mining and energy projects for post- pandemic economic activation Gramalote is one of the highest priority mining projects for the government The Duque administration estimates new mining projects will generate USD $3.9 bi
Slide 74: Strong Local Support for Gramalote
STRONG LOCAL SUPPORT FOR GRAMALOTE 74 Social license key in Colombia and Gramalote has strong community support Antioquia province has a long mining tradition both formal and informal Antioquia government very pro-mining and wants to see Gramalote succeed, as does the national government
Slide 75: New Mining Minister
NEW MINING MINISTER 75 In July, President Duque appointed Diego Mesa as the new Mining Minister Mesa was most recently Deputy Minister of Energy, and worked previously for a number of years with the IMF He has solid Canadian connections – a McGill graduate (M.A. in Economics) who worked four years w
Slide 76: Q&A
76 Q&A
Slide 77: Closing Remarks
77 CLOSING REMARKS
Slide 78: Corporate Strategy 2020/2021
CORPORATE STRATEGY 2020/2021 78 Maintain the highest standards of responsible mining, government relationships, Health, Safety and Environment stewardship and Corporate Social Responsibility programs Maximize profitable gold production from existing mines and continue increasing mineral reserves Mai
Slide 79: Appendix
79 APPENDIX
Slide 80: Mine & Project Locations
MINE & PROJECT LOCATIONS 80 1 1. Includes Anaconda Area
Slide 81: Corporate Overview
CORPORATE OVERVIEW 81 A Low-cost International Senior Gold Producer Successful history of exploration success, accretive COMBINED EXECUTIVE EXPERIENCE acquisitions, production growth and political risk management +260 YEARS of working together for Bema Gold and B2Gold Ongoing commitment to the highe
Slide 82: Managing Political Risk and Succeeding
MANAGING POLITICAL RISK 82 B2Gold’s Competitive Advantage/Keys to Success 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 p
Slide 83: Strong & Profitable Production Profile
STRONG & PROFITABLE PRODUCTION PROFILE 83 Annual Gold Production Growth (oz) Fekola Mine, Mali Attributable Production from Calibre Mining Corp. (“Calibre”) Otjikoto Mine, Namibia Consolidated all-in sustaining costs (“AISC”) /oz1 6 Masbate Mine, The Philippines 3 La Libertad Mine, Nicaragua El Limo
Slide 84: B2Gold: 10-Year Share Price Performance
B2GOLD: 10-YEAR SHARE PRICE PERFORMANCE 84 vs. TSX Global Gold Index & the Gold Price 280% BTO Gold Price 240% +237% TSX Global Gold Index 200% 160% 120% 80% 40% +45% 0% (28%) -40% Credit: Canaccord Genuity (October 21, 2020) Source: Bloomberg (October 22, 2010 – October 21, 2020) -80% All price per
Slide 85: B2Gold: Year-to-Date Share Price Performance
B2GOLD: YEAR-TO-DATE SHARE PRICE PERFORMANCE 85 vs. TSX Global Gold Index & the Gold Price 100% BTO Gold Price TSX Global Gold Index 80% +76% 60% 40% +37% +26% 20% 0% -20% Credit: Canaccord Genuity (October 21, 2020) Source: Bloomberg (January 2, 2020 –October 21, 2020) -40% All price performance sh
Slide 86: Probable Mineral Reserves
PROBABLE MINERAL RESERVES1 86 As of December 31, 2019 Country Mine Tonnes (t) Gold Grade (g/t Au) Contained Gold Ounces (oz) Mali Fekola 59,500,000 2.22 4,250,000 The Philippines Masbate 83,200,000 0.83 2,210,000 Namibia Otjikoto 17,500,000 1.70 960,000 Total Probable Mineral Reserves (includes Stoc
Slide 87: Notes to Mineral Reserves
NOTES TO MINERAL RESERVES 87 1. Mineral Reserves have been classified using the Canadian Institute of Mining, Metallurgy and Petroleum Standards (“CIM”). All tonnage, grade and contained metal content estimates have been rounded; rounding may result in apparent summation differences between tonnes,
Slide 88: Indicated Mineral Resources
INDICATED MINERAL RESOURCES1 88 As of December 31, 2019 Country Mine or Project Tonnes (t) Gold Grade (g/t Au) Contained Gold Ounces (oz) Mali Fekola 110,600,000 1.70 6,050,000 The Philippines Masbate 121,900,000 0.86 3,370,000 Namibia Otjikoto 39,200,000 1.16 1,460,000 Burkina Faso Kiaka 138,500,00
Slide 89: Inferred Mineral Resources
INFERRED MINERAL RESOURCES1 89 As of December 31, 2019 Country Mine or Project Tonnes (t) Gold Grade (g/t Au) Contained Gold Ounces (oz) Fekola 7,000,000 1.23 280,000 Mali Anaconda 21,600,000 1.11 770,000 The Philippines Masbate 19,800,000 0.91 580,000 Namibia Otjikoto 4,500,000 2.55 370,000 Kiaka 2
Slide 90: Notes to Mineral Resources
NOTES TO MINERAL RESOURCES 90 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 91: Contact Details
91 CONTACT DETAILS B2Gold Corp. Clive Johnson Suite 3100, 595 Burrard Street President, CEO & Director P.O. Box 49143 +1 604 681 8371 Vancouver, BC Canada, V7X 1J1 Ian MacLean VP, Investor Relations Tel: +1 604 681 8371 +1 604 681 8371 Toll Free: +1 800 316 8855 Fax: +1 604 681 6209 Katie Bromley Ma