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berlinguette/iStock via Getty Images Recently, I've seen many articles pop up in my newsfeed touting B2Gold Corp.'s (NYSE:BTG) attractive dividend yield and why investors should buy the stock. Having been a professional resource investor for over a decade and knowing B2Gold quite well, I decided to take a serious look at B2Gold to see if is truly a 'discount' bargain. In my opinion, BTG's recent stock troubles has to do with fears that the company has bitten more than it can chew with the Back River pro ...

B2Gold Corp. (BTG) reported adjusted earnings per share (EPS) of 7 cents for fourth-quarter 2023, missing the Zacks Consensus Estimate of 8 cents. The bottom line fell 36% year over year.Including one-time items, the company reported a loss of 9 cents per share against the prior-year quarter’s earnings of 15 cents.B2Gold generated revenues of $512 million in fourth-quarter 2023, reflecting a year-over-year decline of 13.6%.In the December-end quarter, B2Gold recorded a consolidated gold production of 270,61 ...

B2Gold Corp. (NYSE:BTG) Q4 2023 Earnings Conference Call February 22, 2024 11:00 AM ET Company Participants Clive Johnson - President & CEO Mike Cinnamond - SVP, Finance & CFO Bill Lytle - SVP & COO Peter Montano - VP, Projects Victor King - SVP, Exploration Conference Call Participants Wayne Lam - RBC Ovais Habib - Scotiabank Anita Soni - CIBC World Markets Don DeMarco - National Bank Financial Operator Thank you for standing by. This is the conference operator. Welcome to B2Gold Corporation's Fourth Quart ...

Acquisitions and Investments - The company completed the acquisition of Sabina on April 19, 2023, acquiring 100% of the Back River Gold District, including the Goose Project, for a total purchase price of $937.122 million[1][14] - The company acquired a silver production royalty (Hackett River Royalty) equal to 22.5% of the first 190 million ounces of payable silver and 12.5% thereafter, with no future cost[15] - The company purchased 14 million shares (9.9% ownership) of Snowline Gold Corp. for $33 million and 20 million additional shares of Matador Mining Ltd. for $1 million during the year ended December 31, 2023[17] - The company completed the acquisition of the Bakolobi permit in Mali for $24 million in cash on April 21, 2022[25] - The company acquired the remaining 10% interest in Dampan Resources SARL for $4 million plus future contingent payments[43] - The company acquired Sabina Gold & Silver Corp., including the Goose Project, valued at $740 million[141] - The Company acquired the remaining 50% of the Gramalote Project on October 5, 2023, increasing its ownership to 100%[165] - The Company holds a 24% interest in Calibre Mining Corp. and a 19% interest in BeMetals Corp. as of December 31, 2023[165] - The Company's interest in Calibre Mining Corp. was diluted to approximately 15% on January 24, 2024[165] Impairments and Losses - The company identified indicators of impairment on the Fekola Complex CGU and the Gramalote Project, resulting in a net impairment charge of $192 million after a deferred income tax recovery of $14 million[5][19] - The Fekola Complex CGU was impaired by $206 million, determined using a discounted cash flow model with significant assumptions on mineable mineralization, future production levels, and operating costs[135] - Net income attributable to shareholders decreased to $10.1 million in 2023 from $252.9 million in 2022, with basic EPS at $0.01[78] - Net income for 2023 was $41.588 million, a significant decrease from $286.723 million in 2022[138] - Net income for 2023 was $41,588 thousand, down from $286,723 thousand in 2022[163] - Net income for 2023 was $41,588 thousand, a sharp decrease from $286,723 thousand in 2022, down 85.5%[170] - Total comprehensive income for 2023 was $62,201 thousand, compared to $277,153 thousand in 2022, a decrease of 77.6%[170] - Impairment of long-lived assets in 2023 was $322,148 thousand, compared to a reversal of $909 thousand in 2022[163] Financial Liabilities and Debt - The revolving credit facility (RCF) has a term of four years, maturing on December 16, 2025, with unamortized transaction costs of $7 million[33] - The company's total debt balance increased from $57.228 million in 2022 to $192.125 million in 2023, with $150 million drawn down from the RCF[35][48] - The company drew down $150 million on the RCF in 2023, leaving $550 million available for future drawdowns[49] - The company's scheduled debt repayments for 2024 include $11,462 in estimated interest and $8,093 in principal for Fekola equipment loan facilities[53] - Long-term debt rose to $175,869 thousand in 2023 from $41,709 thousand in 2022, an increase of 321.6%[164] Royalties and Streams - The company acquired a Gold Stream Arrangement with Wheaton Precious Metals, involving a $125 million upfront payment and obligations to deliver 4.15% of gold production from the Goose Project, reducing to 2.15% and 1.5% after delivering 130,000 and 200,000 ounces respectively[93] - The company exercised a Buy-back Option for $46 million, reducing the Gold Stream obligation by 33% and the Deposit amount to $83.75 million[95] - The gold stream obligation balance stood at $139.6 million at the end of 2023, with a fair value impact of $6 million per $100/oz gold price change[81][83] Taxes and Deferred Tax - The company recorded a deferred tax expense of $30 million related to future withholding tax on retained earnings planned for repatriation from foreign subsidiaries[108] - The company had non-capital tax losses of $637 million in Canada and $124 million in Colombia, with varying expiration dates[112] - The company paid $239 million in current income tax, withholding, and other taxes in cash during the year ended December 31, 2023[113] - Income tax expense for 2023 was $278.7 million, including $36 million related to Mali's 10% priority dividend on the Fekola Mine[88] - Current income tax, withholding and other taxes for 2023 were $290,081 thousand, up from $247,811 thousand in 2022[163] Share-Based Payments and Equity - In 2022, the company granted approximately 4,534,000 stock options with exercise prices ranging from Cdn. $3.95 to Cdn. $5.79 per share, with an estimated fair value of $6 million[55] - For the year ended December 31, 2023, share-based payments expense related to the vesting of stock options was $5 million, net of $1 million capitalized to mining interests[56] - The company granted approximately 2 million RSUs in 2023 with a total estimated fair value of $7 million, based on the market value of the company's shares at the grant date[57] - The estimated fair value of tranche two PSUs granted in 2023 was $4 million, calculated using a risk-neutral Monte Carlo simulation[59] - The company paid a quarterly dividend of $0.04 per share in 2023, totaling $200 million for the year, with $12 million paid through the issuance of 4 million shares under the Dividend Re-investment Plan[70] - As of December 31, 2023, the company had 30,967 thousand stock options outstanding with a weighted-average exercise price of Cdn. $5.09[71] - Outstanding RSUs increased to 3,322,000 in 2023 from 2,784,000 in 2022, with 1,939,000 granted and 1,440,000 vested[73] - The company issued 0.4 million DSUs in 2023 with a fair market value of $1 million, and 0.7 million DSUs valued at $3 million were released[75] - Share capital increased to $3,454,811 thousand in 2023 from $2,487,624 thousand in 2022, a growth of 38.9%[164] Inventory and Production Costs - Total inventories in 2023 were $346.495 million, up from $332.031 million in 2022[142] - Gold and silver bullion inventory in 2023 was $53.065 million, compared to $49.467 million in 2022[142] - Materials and supplies inventory in 2023 was $194.908 million, up from $171.032 million in 2022[142] - Long-term stock-pile inventory for the Otjikoto Mine increased to $44 million in 2023 from $40 million in 2022[146] - Production costs for raw materials and consumables in 2023 were $488,965 thousand, compared to $484,466 thousand in 2022[120] - Salaries and employee benefits for contractors in 2023 were $90,488 thousand, up from $48,235 thousand in 2022[120] - The change in inventories for 2023 was a decrease of $6,272 thousand, compared to a decrease of $26,135 thousand in 2022[120] - Capitalized mining interests in 2023 were $140,146 thousand, significantly higher than $42,750 thousand in 2022[120] Revenue and Profit - Fekola subsidiary revenue increased to $1,143.8 million in 2023 from $1,067.5 million in 2022, with net income of $147.6 million[79] - Otjikoto subsidiary revenue rose to $417.6 million in 2023 from $280.4 million in 2022, with net income of $87.6 million[79] - Gold revenue for 2023 was $1,934,272 thousand, up from $1,732,590 thousand in 2022[163] - Gross profit for 2023 was $780,001 thousand, compared to $604,244 thousand in 2022[163] - Basic earnings per share for 2023 was $0.01, compared to $0.24 in 2022[163] - Weighted average number of common shares outstanding increased to 1,232,092 thousand in 2023 from 1,064,259 thousand in 2022[163] Cash Flow and Expenditures - Cash provided by operating activities in 2023 was $714.453 million, up from $595.798 million in 2022[138] - Expenditures on the Fekola Mine in 2023 were $298.942 million, compared to $117.622 million in 2022[138] - The Goose Project incurred expenditures of $282.338 million in 2023[138] - Cash and cash equivalents decreased to $306,895 thousand in 2023 from $651,946 thousand in 2022, a decline of 52.9%[164] - Mining interests increased significantly to $3,563,490 thousand in 2023 from $2,274,730 thousand in 2022, a growth of 56.7%[164] Derivatives and Financial Instruments - The company recorded an unrealized fuel derivative loss of $4 million and a realized fuel derivative gain of $9 million in 2023[80] - The company's fuel derivative contracts for 2024 include 9,187 thousand litres of fuel oil with an average strike price of $0.40 and 2,501 thousand litres of gas oil with an average strike price of $0.54[65] - The company entered into forward contracts for the purchase of 20 million litres of gas oil and 16 million litres of fuel oil, scheduled for settlement between August 2023 and July 2024[92] - The company's fuel derivative contracts were valued at $481 thousand as of December 31, 2023, determined using prevailing market rates[97] - Derivative instruments are recorded at fair value with changes recognized as gains or losses in the Consolidated Statement of Operations[199] Accounting and Financial Reporting - The company's value-added tax receivables include $137 million for the Fekola Mine, $45 million for the Masbate Mine, and $18 million for the Gramalote Project as of December 31, 2023[12] - The company's equity share of Calibre's estimated net income for the year ended December 31, 2023 was $20 million, compared to $12 million in 2022[30] - The company issued a promissory note to BeMetals Corp. for $5 million with a 3-year term and 4.7% annual interest, recording an expected credit loss of $2 million in 2023[32] - The undiscounted cash flows to settle mine restoration provisions were estimated at $130 million in 2023, up from $122 million in 2022[38] - The company received $45 million in deferred consideration from the sale of its 81% interest in the Kiaka gold project[44] - The company's investment in Calibre was diluted to approximately 15% following Calibre's acquisition of Marathon Gold Corporation[46] - BeMetals reported a net loss and comprehensive loss of $1 million for the nine months ending September 30, 2023[47] - Lease liabilities payments totaled $3 million for short-term leases and $58 million for variable lease payments in 2023[52] - The company's mine restoration provision balance at the end of 2023 was $107,657, with a current portion of $3,050[69] - The company's non-controlling interest balance at December 31, 2023, was $99,596, with Fekola contributing $42,911 and Masbate contributing $27,744[64] - The company's significant commitments included $126,381 thousand in capital expenditure commitments and $12,039 thousand in other liabilities[103] - The acquisition of Sabina Gold & Silver Corp. involved issuing 216,451,555 B2Gold shares at Cdn. $5.72 per share, totaling $925 million, and $5 million in replacement stock options[130] - The fair value of B2Gold replacement options issued in the Sabina acquisition was $5,075 thousand[117] - Contingent consideration for the Gramalote Property purchase was $14,297 thousand[117] - Interest on loans to non-controlling interests in 2023 was $4,910 thousand, up from $4,116 thousand in 2022[117] - Foreign exchange losses on the Fekola equipment loan facility in 2023 were $411 thousand, compared to gains of $2,716 thousand in 2022[117] - Total equity at the end of 2023 was $3.909 billion, up from $3.112 billion in 2022[139] - The company assumed construction financing and gold stream obligations from Sabina[145] - The Company operates three mines: Fekola Mine in Mali, Masbate Mine in the Philippines, and Otjikoto Mine in Namibia[165] - Subsidiaries are fully consolidated from the date control is obtained and de-consolidated when control ceases[186] - The Company accounts for its interest in Calibre and BeMetals using the equity method due to significant influence[187] - Investments in joint operations are recognized by the Company's share of underlying assets, liabilities, revenues, and expenses[188] - The Company applies a 'concentration test' to assess if an acquired set of activities and assets are not a business[190] - Transaction costs related to business combinations are expensed as incurred[191] - Financial assets and liabilities are recognized when the Company becomes party to the contractual provisions[193] - Cash and cash equivalents include short-term highly liquid investments with original maturities of three months or less[194] - Accounts receivable are net of expected credit losses and measured at amortized cost[195] - Long-term equity investments are classified as fair value through profit and loss (FVTPL) unless designated as fair value through other comprehensive income (FVOCI)[196]

VANCOUVER, British Columbia, Feb. 15, 2024 (GLOBE NEWSWIRE) -- B2Gold Corp. (TSX:BTO, NYSE:BTG, NSX: B2G))) ("B2Gold" or the "Company") deeply regrets to report that three B2Gold employees have passed away as a result of injuries sustained in an off-site incident in Mali earlier today. B2Gold wishes to express its deepest condolences to the families of the deceased employees. Traveling under Malian gendarme escort, a bus transporting B2Gold employees from the Fekola Mine to Bamako was involved in an inciden ...

VANCOUVER, British Columbia, Feb. 13, 2024 (GLOBE NEWSWIRE) -- B2Gold Corp. (TSX:BTO, NYSE:BTG, NSX: B2G))) ("B2Gold" or the "Company") will release its fourth quarter and full year 2023 financial results after the North American markets close on Wednesday, February 21, 2024. B2Gold executives will host a conference call to discuss the results on Thursday, February 22, 2024, at 8:00 am PT / 11:00 am ET. Participants may register for the conference call here: registration link. Upon registering, participants ...

VANCOUVER, British Columbia, Feb. 13, 2024 (GLOBE NEWSWIRE) -- B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) (“B2Gold” or the “Company”) will release its fourth quarter and full year 2023 financial results after the North American markets close on Wednesday, February 21, 2024. B2Gold executives will host a conference call to discuss the results on Thursday, February 22, 2024, at 8:00 am PT / 11:00 am ET. Participants may register for the conference call here: registration link. Upon registering, par ...

VANCOUVER, British Columbia, Jan. 31, 2024 (GLOBE NEWSWIRE) -- B2Gold Corp. (TSX:BTO, NYSE:BTG, NSX: B2G))) ("B2Gold" or the "Company") is pleased to announce positive exploration drilling results from the Antelope deposit at the Otjikoto Mine ("Otjikoto") in Namibia. The Antelope deposit, comprised of the Springbok Zone, the Oryx Zone, and a possible third structure, Impala, subject to further confirmatory drilling, is located approximately three kilometers ("km") south of the Otjikoto Phase 5 open pit. Th ...

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