Slide 1: B2Gold Corp.
B2Gold Corp. December 2011 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 Corp.
About B2Gold Corp. Vancouver based gold producer founded as a private company in 2007 by the former executives and management team of Bema Gold Corporation Two producing gold mines in Nicaragua – La Libertad and Limon Projected to produce between 135,000 to 145,000 ounces of gold in 2011 Gro
Slide 4: B2Gold / Auryx Merger Overview
B2Gold / Auryx Merger Overview B2Gold and Auryx have signed a binding agreement to combine the two companies expected to be completed via a Plan of Arrangement, total equity value Cdn$160 million Auryx owns 92% interest on Otjikoto gold project in Namibia, Africa and 100% of two additional explo
Slide 5: B2Gold Share Capital
B2Gold Share Capital Ownership Breakdown Million Shares (1) (% Basic) Total Shares Issued and Outstanding 344.8 Pro Forma Shares Outstanding (2) 381.9 100.0% Shares Held by Directors and Officers 39.6 10% Stock Options held by Non-Executive Directors, Non-Executive Officers, Employees and 12.6 3.3%
Slide 6: 2011 Financial Highlights
2011 Financial Highlights 2011 Third Quarter Gold revenue of $50.5 million Gold production of 34,303 ounces Gold sales of 29,672 ounces Consolidated operating cash costs of $529 per ounce of gold Cash flow from operations of $20.0 million Cash balance of $73.6 million at quarter end 2011
Slide 7: Corporate Production Profile
Corporate Production Profile Projected to produce between 135,000 to 145,000 ounces of gold in 2011 Projected 2011 average operating cash costs of approximately $540 - $560 per ounce Projected 2011 cash flow from mining operations of approximately $113.4 million - at $1,700 per ounce gold from
Slide 8: Projected Annual Production
Projected Annual Production The Otjikoto project in Namibia will make a significant impact on B2Gold ‘s future production (2) Estimated Annual Production (k oz Au) 450 150 300 100 100 200 200 Gramalote (1) 160 Otjikoto (1) (2) 145 50 50 50 50 50 Limon 45 La Libertad 150 150 150 150 100 110 2011E 2
Slide 9: Nicaragua Project Locations
Nicaragua Project Locations North America TREBOL (RADIUS JV) CALIBRE JV Nicaragua PAVON (RADIUS JV) LIMON MINE LA LIBERTAD Central America Managua Office MINE EXPLORATION - MINING CALIBRE JV RADIUS JV 0 100 200 South America kilometres 9
Slide 10: 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 11: La Libertad Mine
La Libertad Mine Open pit gold mine Projected to produce between 93,000 to 99,000 ounces of gold in 2011 at an operating cash cost of approximately $440 - $460/oz 2011 production budgeted at 5,500 tonnes of ore per day, average grade of 1.60 g/t, estimated recovery 87% Minimum 7 year mine li
Slide 12: La Libertad Exploration Drill Targets
La Libertad Exploration Drill Targets El Carmen / Escandalo veins High grade / open Pit targets Jabali Central Zone – Inferred Resource 1.59 Mt @ 3.24 g/t Au for 166 K oz Au Crimea Extension Soil Anomaly Mojon Pit Mojon West extension Jabali Antenna Zone – Inferred Resource 1.63 Mt @ 6.52 g/t Au for
Slide 13: Limon Mine
Limon Mine Open pit and underground gold mine 1,000 tonne per day mill 2010 was the most successful production year in the past six years producing over 40,000 ounces of gold In 2011, projected to produce between 42,000 and 46,000 ounces of gold at a cash cost of approximately $720 - $740/oz
Slide 14: Exploration and Development Projects
Exploration and Development Projects 14
Slide 15: 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 16: Gramalote Property
Gramalote Property 49% B2Gold – 51% AngloGold Ashanti Joint Venture AngloGold Ashanti is manager of the project Gramalote Excellent infrastructure and location NI 43-101 compliant inferred resource estimate for the Gramalote Ridge Zone of 74.4 Mt grading 1.0 g/t gold for a total of 2.39 millio
Slide 17: Gramalote Development
Gramalote Development Highlights from the 2011 prefeasibility and exploration work include: Positive metallurgical test results showing in excess of 90% recovery Encouraging new drill results from Gramalote and outside targets indicate the potential for a larger resource Consistent grade fro
Slide 18: Gramalote Property
Gramalote Property 2011 / 2012 Proposed Drilling and Exploration Targets 29,000 metres of drilling planned in 2011 18
Slide 19: Radius Joint Venture
Radius Joint Venture (Trebol, Pavon & San Jose) B2Gold is earning a 60% interest from Radius Gold 22 km NE trending belt of epithermal hot springs style gold mineralization Mineralization traced through a combination of mapping, prospecting, trenching and soil geochemical sampling over a 2.2 k
Slide 20: Cebollati Property
Cebollati Property (Uruguay) B2Gold is earning an 80% interest in the property Exploration rights covering a belt of 50 km long by 10 to 15 km wide Consistent high-grade surface gold mineralization over a 1,800 x 550 m area. Extensive trenching returned impressive gold values An 8,500 m di
Slide 21: 2011 Exploration and Development Budgets
2011 Exploration and Development Budgets PROJECT BUDGET (2011) DRILLING (m) NICARAGUA LA LIBERTAD $8,750,320 40,000 JABALI $15,209,287 Development EL LIMON $3,219,602 10,000 $27,179,209 50,000 RADIUS JV – NICARAGUA TREBOL $2,106,655 3,000 PAVON $268,366 1,000 $2,375,021 4,000 CALIBRE JV – NICARAGUA
Slide 22: Next 12 Months
Next 12 Months Completion of Auryx Gold Merger Continue to optimize operations at La Libertad and Limon Mines Further exploration and infill drilling at the new Jabali resource Begin mining higher grade material from Jabali Exploration and prefeasibility work to continue on the Gramalote p
Slide 23: Contact Information
Contact Information B2Gold Corp. 3100 - 595 Burrard Street Vancouver, BC Canada, V7X 1J1 Phone: 604-681-8371 Toll Free: 1-800-316-8855 Fax: 604-681-6209 Email: investor@b2gold.com Website: www.b2gold.com 23
Slide 24: Appendix
Appendix 24
Slide 25: B2Gold Management Team
B2Gold Management Team Clive T. Johnson (President, CEO & Director) Clive Johnson leads the strong management team of B2Gold. Mr. Johnson was involved with Vancouver based Bema Gold and its predecessor companies since 1977. When Bema Gold was created by the amalgamation of three Bema group compani
Slide 26: B2Gold Management Team
B2Gold Management Team George Johnson (Senior VP, Operations) George Johnson has the responsibility for overseeing all development and producing properties including both the Limon and La Libertad mines in Nicaragua. He has over 35 years of experience in underground and open pit mine construction
Slide 27: B2Gold Board of Directors
B2Gold Board of Directors Robert Cross (Chairman of the Board) Robert Cross has more than 20 years of experience as a financier in the Mining and Oil & Gas sectors. He has served as a director of numerous public and private companies. He was Non- Executive Chairman of Northern Orion Resources Inc.
Slide 28: B2Gold Board of Directors cont.
B2Gold Board of Directors cont. Jerry Korpan Jerry Korpan has been an investment banker in London, England since 1985. He is currently Executive Director of Emergis Capital S.A., a property development company based in Antwerp, Belgium, and Executive Vice President of Bema affiliate, Consolidated
Slide 29: Bellavista Project
Bellavista Project (Costa Rica) 100% B2Gold Originally built as a heap leach gold mine B2Gold continues to pursue the potential reopening as an open pit and underground gold mine and mill B2Gold has contracted a conceptual study to provide a detailed project scope Was presented to the Cost
Slide 30: B2Gold Reserves & Resources
B2Gold Reserves & Resources As at December 31, 2010 MINERAL RESERVES Contained Zone Tonnes Gold Grade (g/t) Gold Ounces LA LIBERTAD Proven & Probable 13,189,498 1.51 642,293 LIMON (1) Proven & Probable 1,949,692 4.48 280,893 Total Proven and Probable Mineral Reserves 15,139,190 923,276 MEASURED AND
Slide 31: B2Gold Inferred Resources
B2Gold Inferred Resources As at December 31, 2010 INFERRED MINERAL RESOURCES Contained Zone Tonnes Gold Grade (g/t) Gold Ounces LA LIBERTAD Mine Inferred 7,365,245 2.89 683,277 LIMON Mine (1) Inferred 942,428 5.01 151,732 GRAMALOTE (2) Inferred 36,443,750 1.00 1,169,630 Total Inferred Resources 44,7