B2gold Corp. · TSX:BTO
B2gold — Investor Presentation (September 2021)
51 slides from B2gold's investor presentation, September 2021
Slide 1: A Low-Cost International Senior Gold Producer
ACQUIRE | DISCOVER | FINANCE | BUILD | OPERATE A LOW-COST INTERNATIONAL SENIOR GOLD PRODUCER September 2021 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, 2021 (“2021 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 (“AGA”): 50% 2. Includes Anaconda area
Slide 4: Managing Political Risk and Succeeding
MANAGING POLITICAL RISK 4 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 TRANSPARENCY | ACCOUNTABILITY AND SUCCEEDING IN COUNTRIES AROUND THE WORLD Always delivering on our pr
Slide 5: Strong & Profitable Production Profile
STRONG & PROFITABLE PRODUCTION PROFILE 5 Annual Gold Production Growth (oz) Fekola Mine, Mali Attributable Production from Calibre Mining Corp. (“Calibre”) Otjikoto Mine, Namibia Consolidated all-in sustaining costs (“AISC”)1 /oz sold 5 Masbate Mine, The Philippines La Libertad Mine, Nicaragua $862
Slide 6: Five-Year Gold Production Forecast: 2021-2025
FIVE-YEAR GOLD PRODUCTION FORECAST: 2021 - 2025 6 Annual Gold Production (oz) Five-year average 2021 - 2025 of over 930 Koz from 1,200 B2Gold’s three producing mines and 970 Koz including 1,100 attributable share of Calibre production1 1,000 900 Gramalote production: 50% of ounces attributable 800 t
Slide 7: 2021 Mine-by-Mine Production & Cost Guidance
2021 MINE-BY-MINE PRODUCTION & COST GUIDANCE 7 Consolidated: Gold production1,2: 970 Koz - 1,030 Koz Cash operating costs3: $500 - $540 /oz Namibia, Otjikoto Mine: OPEN PIT AISC3: $870 - $910 /oz Gold production: 190 Koz - 200 Koz 20% Cash operating costs: $480 - $520 /oz AISC: $830 - $870 /oz Mali,
Slide 8: 2021 Consolidated Guidance
2021 CONSOLIDATED GUIDANCE 8 Gold Production, Costs, Gold Revenue & Cash Flows from Operating Activities Gold production1,2: Gold revenue4: 970 Koz - 1,030 Koz approx. $1.7 B Cash operating costs3: Cash flows from operating $500 - $540 /oz activities4: approx. $630 M AISC3: Approx. $500 M of this $8
Slide 9: First Half 2021 Consolidated
FIRST HALF 2021 CONSOLIDATED 9 Gold Production, Costs, Gold Revenue & Cash Flows from Operating Activities Gold production: Q1 2021: Cash operating costs4: 220,644 oz FH $636 /oz produced FH 20211: FY $500 - $540 /oz (guidance) 432,256 oz AISC4: FH $974 /oz sold FEKOLA: FY $870 - $910 /oz (guidance)
Slide 10: Strong Financial, Liquidity & Cash Position
STRONG FINANCIAL, LIQUIDITY & CASH POSITION 10 As at June 30, 2021, B2Gold had cash and cash equivalents of $382 M The full amount of the $600 M revolving credit facility remains fully undrawn and available (June 30, 2021). Additional accordion feature available is $200 M On September 10, 2021, B2Go
Slide 11: Corporate Strategy 2021/2022
CORPORATE STRATEGY 2021/2022 11 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 and continue increasing Mineral Reserv
Slide 12: Our Safety Response
12 OUR SAFETY RESPONSE Q2 2021 HIGHLIGHTS: LTIFR1: 0.09 (4 LTIs2) As a responsible miner, we TRIFR3: 0.35 (50% increase from 2020) believe in preventing harm Masbate Mine: surpassed 16.5 M LTI-free hours (991 days) and protecting the health, safety and well-being of our REMAINING FOCUSED ON INJURY P
Slide 13: Responsible Mining
RESPONSIBLE MINING 13 Recent Awards AWARD FROM LOCATION 2021 Sustainability Award Prospectors and Developers Association of Canada Corporate 2020 Most Sustainable Miner Award Mining Journal Corporate 2020 CSR Award Mali Philanthropy Association and Minister of Solidarity Fekola Mine, Mali Best Minin
Slide 14: 2021 Development Continues
2021 DEVELOPMENT CONTINUES 14 Operations continue to improve upon existing facilities and develop new projects: Fekola Mine: continued optimization of milling circuit to test maximum throughput rate beyond nameplate capacity and optimization for saprolite ore feed blend Fekola Mine: production plann
Slide 15: Anaconda Area: Menankoto South & Bantako North Licenses
ANACONDA AREA: MENANKOTO SOUTH & BANTAKO NORTH LICENSES 15 Regional Mali Project The Anaconda area consists of two licenses (Bantako North and Menankoto South). Each license holds several target areas that have been historically known as “The Snakes”1 As part of the development program, considerable
Slide 16: Gramalote Project: Updated Feasibility Work
GRAMALOTE PROJECT: UPDATED FEASIBILITY WORK 16 Following a review of Gramalote’s feasibility study work to date1, B2Gold believes that there is strong potential to improve the economics of the project which could be developed by revisiting the original project design parameters2 The Gramalote Projec
Slide 17: Kiaka Project
17 KIAKA PROJECT B2Gold continues to update the existing feasibility study for the Kiaka Project in Burkina Faso due to the potential for improved economics resulting from lower fuel prices, alternative power options and a higher gold price An updated resource model was completed in December 2020, p
Slide 18: 2021 Exploration Budget $66 M
2021 EXPLORATION BUDGET 18 West Africa Grassroots Anaconda area, Cardinal/FMZ and Finland: $4.8 M has been allocated to the Fekola North: 98,500 m of diamond Central Lapland JV with Aurion Resources Ltd drilling (“DD”) and reverse circulation 4% Uzbekistan: $5 M has been allocated to (“RC”) drilling
Slide 19: West Mali Permits
WEST MALI PERMITS 19 Medinandi: • 75 km2 – exploitation license • Hosts Fekola deposit Menankoto South: • 52 km2 – exploration permit1 • Approx. 15 km north of Fekola • Hosts Anaconda regional project Bantako North: • 10 km2 – exploration permit • Hosts the northern strike extension of the Anaconda
Slide 20: Fekola Mine Long Section Looking West
FEKOLA MINE LONG SECTION LOOKING WEST 20
Slide 21: Cardinal - FMZ Area
CARDINAL - FMZ AREA 21 Exploration/Development Update Production planning for the nearby Cardinal Inferred Mineral Resource area, located within 500 m of the current Fekola resource pit, is currently underway The initial Inferred Mineral Resource estimate is 640 Koz of gold in 13.0 million tonnes of
Slide 22: Cardinal Long Section Looking Northwest
CARDINAL LONG SECTION LOOKING NORTHWEST 22 Current focus of exploration drilling
Slide 23: Anaconda Area: Recent Exploration (i)
Vic’s edits are highlighted 23 ANACONDA AREA1: RECENT EXPLORATION (i) An existing Inferred Mineral Resource estimate for the Anaconda area of 767 Koz of gold at 1.1 g/t in near surface saprolite mineralization over 4.5 km and up to 500 m wide was previously announced Exploration drilling in 2021 has
Slide 24: Anaconda Area: Recent Exploration (ii)
Vic’s edits are highlighted 24 ANACONDA AREA1: RECENT EXPLORATION (ii) Drilling in 2021 has been focused on the Bantako North permit area Selected recent significant intersections are included in the table Grade shell outlines >0.2 g/t gold Bantako North in blue Menankoto South in red Anaconda Infer
Slide 25: Anaconda Area: The Mamba Zone
25 ANACONDA AREA: THE MAMBA ZONE1 Menankoto South Permit2 Bantako North Permit High-grade intercepts at the Mamba zone demonstrate well-mineralized intersections of sulphide-hosted gold over a total strike length of approx. 2.2 km Mineralization exhibits strong continuity between saprolite and sulph
Slide 26: Mamba Infill on the Bantako North Permit
26 MAMBA INFILL ON THE BANTAKO NORTH PERMIT Section line
Slide 27: Grassroots Exploration: Tien Shan
27 27 Kazakhstan Tadybulak Talas (6.5 Moz) Jerooy (5.6 Moz) Chaarat (9 Moz) Muruntau (163 Moz) Amantaytau (8 Moz) Kyzul-Almasai (8.6 Moz) Kyrgyzstan Bayankol (5.1 Moz) Adjibugut (4.5 Moz) Uzbekistan Kumtor (10.5 Moz) Turkmenistan Zarmitan (10 Moz) Tajikistan GRASSROOTS Kangqiao (6.7 Moz) China EXPLO
Slide 28: Grassroots Exploration: Kyzylkum
Resources № Target Grade g/t Au (Moz) 1 Muruntau 163,0 2,50 28 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 30,8 Murunt
Slide 29: Grassroots Exploration: Ikkari
29 Rupert Resources’ Ikkari discovery 7km of prospective host structure on B2Gold-Aurion JV ground GRASSROOTS EXPLORATION: IKKARI PROSPECT: FINLAND
Slide 30: Grassroots Exploration: Barramiya
Mediterranean Sea 30 CAIRO SAUDI ARABIA EGYPT B2Gold Permits LUXOR MARSA ALAM EDFU GRASSROOTS Sukari Gold Mine EXPLORATION: EGYPT’S EASTERN DESERT Red Sea BARRAMIYA PROJECT1: SUDAN EGYPT 1. B2Gold has been awarded certain exploration concessions in Egypt and has executed an exploration licence agree
Slide 31: Sustainability 2021
31 SUSTAINABILITY 2021
Slide 32: Sustainable Development
SUSTAINABLE DEVELOPMENT 32 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 33: Commitment to Standards & Initiatives
COMMITMENT TO STANDARDS & INITIATIVES 33 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 B2Gold is committed and Human Rights, and we imple
Slide 34: Occupational Health & Safety
OCCUPATIONAL HEALTH & SAFETY 34 COVID-19 Response B2Gold continues to monitor its operations and local communities, providing support where needed and ensuring that our measures remain consistent with the WHO/CDC and national health authorities’ guidelines Across operations, we have seen a decrease
Slide 35: Our Economic Contribution
35 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 2020 ECONOMIC CO
Slide 36: Our People
36 OUR PEOPLE 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
Slide 37: Our People
37 OUR PEOPLE Q2 2021 EQUITY, DIVERSITY AND INCLUSION (“EDI”) HIGHLIGHTS: PROGRAM: 4,687 employees globally 14.3% of workforce identify as female (end of 2020: 4,299) (2020: 13.4%, 2019: 12%) 96.7% local employment 25% of senior positions3 are occupied (2020: 95%)1 by women 55% senior management2 ro
Slide 38: Our Environment
OUR ENVIRONMENT 38 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 39: Our Environment
39 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 40: Our Communities
OUR COMMUNITIES 40 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 41: Our Communities: Mali
OUR COMMUNITIES 41 Mali Opening of New Fadougou Secondary School in 2020 and continued funding of the scholarship program Ongoing 3-year UNICEF partnership to support vulnerable women and girls at artisanal and small-scale mining sites Continuing implementation of a Community Development Plan, in co
Slide 42: Our Communities: The Philippines
OUR COMMUNITIES 42 The Philippines Digital Jobs Project – partnership with the Department of Information and Communications Technology; provides training in technical courses such as virtual assistance, web development, search engine optimization and graphic design Continued support to municipal coa
Slide 43: Our Communities: Namibia
OUR COMMUNITIES 43 Namibia Namibian Rhino Gold Bar campaign success Ongoing funding of a secondary school environment and sustainable development scholarship and internship program. Financial support for schools in marginalized communities UNICEF UPSHIFT program partnership – designed to build skill
Slide 44: Our Communities: Colombia
OUR COMMUNITIES 44 Colombia FUTURE PROJECTS: GRAMALOTE Formalization of informal artisanal mining sites Advancing resettlement programs Promotion and support to small enterprises through a 3-year joint program with the Municipality of San Roque and the National Training Service
Slide 45: Appendix
45 APPENDIX
Slide 46: Probable Mineral Reserve Statement
PROBABLE MINERAL RESERVE STATEMENT1 46 As of December 31, 2020 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) Ma
Slide 47: Notes to Mineral Reserves
NOTES TO MINERAL RESERVES 47 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 48: Indicated Mineral Resource Statement
INDICATED MINERAL RESOURCE STATEMENT1 48 As of December 31, 2020 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)
Slide 49: Inferred Mineral Resource Statement
INFERRED MINERAL RESOURCE STATEMENT1 49 As of December 31, 2020 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) F
Slide 50: Notes to Mineral Resources
NOTES TO MINERAL RESOURCES 50 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 51: Contact Details
51 CONTACT DETAILS B2Gold Corp. Clive Johnson Suite 3400 President, CEO & Director 666 Burrard Street +1 604 681 8371 Vancouver, BC Canada, V6C 2X8 Ian MacLean Vice President, Investor Relations Tel: +1 604 681 8371 +1 604 681 8371 Fax: +1 604 681 6209 Katie Bromley Email: investor@b2gold.com Manage