B2gold Corp. · TSX:BTO
B2gold — 2012 BMO Metals and Mining Conference
27 slides from B2gold's conference presentation, February 2012
Slide 1: B2Gold Corp. 2012 BMO Metals and Mining Conference
B2Gold Corp. 2012 BMO Metals and Mining Conference February 2012 12 1
Slide 2: Cautionary Statement
Cautionary Statement Some of the statements contained in this presentation are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result
Slide 3: About B2Gold
About B2Gold Two Producing Gold Mines in Nicaragua Record gold production in 2011 Strong Financial Position Dramatic Production Growth from existing assets Increasing production from the existing mines High quality development and exploration projects Proven Management Team Ability t
Slide 4: Projected Production Growth
Projected Production Growth Estimated Annual Production (k oz Au) 450 300 150 Gramalote * Otjikoto * 200 100 100 185 Limon 145 155 La Libertad** 50 50 50 50 45 50 135 150 150 150 100 105 2011 2012E 2013E 2014E 2015E 2016E *Subject to feasibility study, permitting and financing Based on internal esti
Slide 5: B2Gold Management
B2Gold Management Former management team of Bema Gold, built from inception in 1988 to an intermediate gold producer with a market capitalization of Cdn$3.5 billion when bought out by Kinross in 2007 Responsible for 3 world class gold discoveries; Refugio and Cerro Casale in Chile and Kupol in R
Slide 6: B2Gold Management
B2Gold Management Clive Johnson - President, CEO. 1977-1988 with Bema Gold’s predecessor companies. 1988- 2007 with Bema Gold. 2007 – Present with B2Gold. Roger Richer – Secretary, Executive Vice President and General Counsel. 1988-2007 with Bema. 2007-Present with B2Gold. Mark Corra – Senior
Slide 7: B2Gold Share Capital
B2Gold Share Capital Ownership Breakdown Million Shares (1) (% Basic) Total Shares Issued and Outstanding 382.5 Stock Options held by Non-Executive Directors, Non- 15.3 4% Executive Officers, Employees and Consultants Warrants 2.1 Total Shares Fully Diluted 399.9 Shares Held by Directors and Officer
Slide 8: Corporate HSES Responsibility
Corporate HSES Responsibility Health, Safety, Environmental and Corporate Social Responsibility B2Gold is committed to strong corporate HSES policies and procedures starting with the board level HSES committee and management of issues by a corporate level HSES vice president. Direction for HSES
Slide 9: Corporate Production Profile
Corporate Production Profile Record gold production of 144,604 ounces in 2011 Projected average operating cash costs for 2011 of $540-$560* Projected 2012 gold production of 150,000 – 160,000 ounces Projected 2012 average operating cash costs of $590 - $625 per ounce No debt, no hedging *F
Slide 10: Financial Highlights
Financial Highlights 2011 Year End Record revenue of approximately $225.4 million Record gold sales of 144,013 ounces Projected cash from mining operations approximately $131 million at an average realized gold price of $1565 per ounce Cash balance of approximately $100 million at year end 2
Slide 11: Project Map
Project Map —-F ‘ Qvaneouver ’ ® Limon Mine La Libertad Mine | @ Radius JV et © Calibre JV Sb, Costa Rican Project © Bellavista Mine be | * ‘1 Namibian Project - es y p iy Uruguayan Project ® Otjikoto af a “ wa @ Cebollati @ Production and Development Projects @ Exploration Projects BeGOL_LD 11
Slide 12: Mining in Nicaragua
Mining in Nicaragua Long mining history with a strong Mining Law One of the safest countries in Central America Modern infrastructure and easily accessible Democratic Republic since 1990. Government supportive of foreign investment Fair tax regime – 3% NSR and 30% Net Profits Tax B2Gold
Slide 13: La Libertad Mine
La Libertad Mine Record gold production in 2011 Open pit gold mine Produced 99,567 ounces of gold in 2011 Projected operating cash cost of $440 - $460 for 2011* 2011 production budgeted at 5,500 tonnes of ore per day, average grade of 1.72 g/t, at 91% recovery Minimum 10 year mine life
Slide 14: Limon Mine
Limon Mine Highest gold production at the mine in 2011 since 2003 Open pit and underground gold mine In 2011, produced 45,037 ounces of gold 2011 projected cash costs of $720 – $740 per ounce* 2011 projection budgeted at 1,000 tonnes of ore per day, average grade of 4.48 g/t. Projected 2
Slide 15: Growth Potential: Jabali Zone at La Libertad Mine
Growth Potential Jabali Zone at La Libertad Mine Located approximately 8km from La Libertad Mill Current Jabali resource of 3.55 million tonnes at 4.58 g/t containing 522,000 ounces of gold Considerably higher grade than the 2011 average grade of 1.72 g/t processed at La Libertad in 2011 New
Slide 16: Mining in Namibia
Mining in Namibia Population of 2.1 million (2010 estimate) Strong history of mining Mining plays vital role in the Namibian economy Stable Government Open to foreign investment Mining corporate tax rate 37.5%, NSR 3% Good national infrastructure Otjikoto Project infrastructure 3km
Slide 17: Growth Potential: Otjikoto Project, Namibia
Growth Potential Otjikoto Project, Namibia Acquired through a business combination with Auryx Gold- closed December 2011 Located approximately 300km North of capital Windhoek, Namibia 140,000 metres of drilling completed at time of merger Indicated resource of approximately 25.1 million tonn
Slide 18: Mining in Colombia
Mining in Colombia Colombia Regional Map Long history of gold production Excellent exploration potential Good infrastructure Modern mining law Fair tax regime – 4% NSR and 33% Net Profits Tax Stable government that encourages foreign investment : Two joint ventures with Anglogold-Ashan
Slide 19: Growth Potential: Gramalote, Colombia
Growth Potential Gramalote, Colombia Joint Venture with AngloGold Ashanti (51%), B2Gold (49%) Located in the Antioquia Department, Colombia approximately 80km Northeast of Medellin Indicated resource of 74.4 million tonnes with an average grade of 1.00 g/t totalling 2.39 million ounces of gold
Slide 20: Projected Production Growth
Projected Production Growth Estimated Annual Production (k oz Au) 450 300 150 Gramalote * Otjikoto * 200 100 100 185 Limon 145 155 La Libertad** 50 50 50 50 45 50 135 150 150 150 100 105 2011 2012E 2013E 2014E 2015E 2016E *Subject to feasibility study, permitting and financing Based on internal esti
Slide 21: Borosi Concession, Northeast Nicaragua
Borosi Concession, Northeast Nicaragua Calibre / B2Gold Joint Venture Primavera Project, Gridded Gold Soil Data Area of drilling 21
Slide 22: Primavera Project Plan Map with Drilling
Primavera Project Plan Map with Drilling Ground Mag Gridded Au Soil 22
Slide 23: Primavera Gold / Copper Project
Primavera Gold / Copper Project January 2012 Primavera Drill Results Gold-ALS Copper-ALS Hole From (m) To (m) Length (m) (g/t) (ppm) PR-11-001 0.00 276.80 276.80 0.50 2146 includes 0.00 103.00 103.00 0.85 3240 PR-11-002 1.50 263.20 261.70 0.78 2966 includes 1.50 209.00 207.50 0.89 3378 includes 74.5
Slide 24: B2Gold / Calibre JV - Primavera 2012 Exploration Plans
B2Gold / Calibre JV - Primavera 2012 Exploration Plans Airborne Geophysics Magnetics and Radiometrics Drilling - 2 Stage Drill Budget Stage 1 2,000 m (currently underway) Stage 2 10,000 m (success based) Mapping / Geochemistry expand coverage to regional evaluation Follow Up fully
Slide 25: 2012 Exploration Budgets
2012 Exploration Budgets Budget Metres of Project Country (drilling & other Drilling exploration) La Libertad Mine Nicaragua 12,000 metres $3 million Jabali Zone (Libertad mine) Nicaragua 5,500 metres $4 million Limon Mine Nicaragua 14,000 metres $4.6 million Calibre JV Borosi , including Primavera
Slide 26: Next 12 Months
Next 12 Months Nicaragua: Continue to optimize operations at La Libertad and Limon Mines Increase production at La Libertad from Jabali from open pit Further exploration and infill drilling at the new Jabali resource Updated resource for Jabali expected in the first quarter of 2012 Continu
Slide 27: Next 12 Months (con't)
Next 12 Months (con’t) Colombia: Exploration and prefeasibility work to continue on the Gramalote property Updated resource expected in the first quarter of 2012 Prefeasibility study scheduled for June 2012 Corporate: 2011 year end financials expected in late March 2012 Annual corporate Re