Gold: $1283.30 TSX-BTO: $3.46 NYSE MKT-BTG: $2.78 Contact Us Email Signup Home Corporate About Strategy Vision & Values Directors Management Responsible Mining Report Corporate Governance Corporate Directory Projects Producing Masbate Mine – The Philippines Otjikoto Mine – Namibia La Libertad Mine – Nicaragua El Limon Mine – Nicaragua Development Fekola Project – Mali Kiaka Project – Burkina Faso Gramalote Project – Colombia Exploration Fekola Mine & Regional Exploration – Mali Kiaka Project – Burkina Faso La Libertad Mine – Nicaragua El Limon Mine – Nicaragua Otjikoto Mine & Ondundu JV Project – Namibia Masbate Mine – The Philippines Gramalote Project – Colombia Other Exploration Reserves & Resources Interactive Map Investors Investment Highlights Stock Information Presentations Company Factsheet Events Analyst Coverage Financials/MDA/Filings AGM & Special Meetings Shareholder Information ESTMA News 2017 2016 2015 2014 2013 2012 Archive Corporate Responsibility Responsible Mining Social Responsibility Occupational Health & Safety Environment Biodiversity Careers Contact Us Investment Highlights Investment Highlights Stock Information Presentations Company Factsheet Events Analyst Coverage Financials/MDA/Filings AGM & Special Meetings Shareholder Information ESTMA Competitive Advantage Dramatic Projection Growth Capital Structure Analyst Coverage Management Project Profile B2Gold Competitive Advantage Dramatic Projection Growth Mineral Reserve and Resource Estimates Mineral Reserves are reported from pit designs and underground stope designs based on Indicated Mineral Resources. Mineral Resources are reported inclusive of those Mineral Resources that have been converted to Mineral Reserves. Economic parameters such as mining costs, processing costs, metallurgic recoveries and geotechnical considerations have been applied to determine economic viability of the Mineral Reserves based on a gold price of US$1,250 per ounce (“/oz”). Mineral Reserves contained in stockpiles are also included for Masbate and Otjikoto mines. Mineral Resources amenable to open-pit mining are constrained with conceptual pit shells defined by economic parameters and using a gold price of US$1,400/oz. Mineral Resources amenable to underground mining methods are reported above cutoff grades defined by site operating costs and using a gold price of US$1,400/oz. Gold grades are expressed in grams per tonne of gold (“g/t Au”). Mineral Reserves and Resource estimates are reported from B2Gold’s Mineral Resource model that has an effective date of December 31, 2016. For more details click here for B2Gold’s most recently filed Annual Information Form 2017, which is also available on SEDAR www.sedar.com and on the U.S. Securities and Exchange Commission’s website at www.sec.gov. Probable Mineral Reserves Statement Mine Tonnes (t) Gold Grade (g/t Au) Contained Gold Ounces (oz) Contained Gold Kilograms (kg) Fekola 43,800,000 2.37 3,340,000 103,900 Masbate 95,290,000 0.88 2,683,000 83,500 Otjikoto 23,140,000 1.33 986,000 30,700 La Libertad 1,910,000 1.94 119,000 3,700 El Limon 1,130,000 4.20 152,000 4,700 Total Probable Mineral Reserves (includes Stockpiles) 7,281,000 226,500 Footnotes (Click to expand) Mineral Reserves have been classified using the 2014 CIM Definition Standards for Mineral Resources and Mineral Reserves. 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. Fekola Project: Mineral Reserves are reported on a 90% attributable basis; the remaining 10% interest will be held by the State of Mali. We expect that the State of Mali will exercise its right to acquire an additional 10% interest in the Fekola project. For further details of our interest in the Fekola project, see the heading “Material Properties - Fekola Project - Property Description, Location and Access” in B2Gold's most recently filed Annual Information Form ("AIF") – click here for AIF. The Mineral Reserves have an effective date of December 31, 2016. The Qualified Person for the estimate is Peter Montano, P.E., who is our Project Director. Mineral Reserves are based on a conventional open pit mining method, gold price of US$1,250/oz, metallurgical recovery of 92.7%, and average operating cost estimates of US$2.90/t mined (mining), US$20.25/t processed (processing) and US$3.72/t processed (general and administrative). Reserve model dilution and ore loss was applied through whole block averaging such that at a 0.8 g/t Au cutoff there is a 2.8% increase in tonnes, a 3.1% reduction in grade and 0.5% reduction in ounces when compared to the Mineral Resource model. An additional 5% dilution and 2% ore loss was applied during pit optimization and scheduling. Mineral Reserves are reported above a cutoff grade of 0.8 g/t Au. Masbate Gold Project: Mineral Reserves are reported on a 100% attributable basis. Pursuant to the ore sales and purchase agreement between Filminera Resources Corporation (“Filminera”) and Philippine Gold Processing & Refining Corporation (“PGPRC”), our wholly-owned subsidiary, PGPRC has the right to purchase all ore from the Masbate Gold Project. The Mineral Reserves have an effective date of December 31, 2016. The Qualified Person for the estimate is Kevin Pemberton, P.E., who is our Chief Mine Planning Engineer. Mineral Reserves are based on a conventional open pit mining method, gold price of US$1,250/oz, modeled metallurgical recovery (resulting in average LOM metallurgical recoveries by pit that range from 65% to 82%), and operating cost estimates of US$1.50/t mined (mining), a variable ore differential cost by pit (average cost is US$0.17), US$9.36-10.18/t processed (processing) and US$2.30-3.84/t processed (general and administrative). Dilution and ore loss were applied through block averaging such that at a cutoff of 0.45 g/t Au, there is a 5% increase in tonnes, a 6% reduction in grade and 1% reduction in ounces when compared to the Mineral Resource model. Mineral Reserves are reported at cutoffs that range from 0.46-0.49 g/t Au. Otjikoto Mine: Mineral Reserves are reported on a 90% attributable basis; the remaining 10% interest is held by EVI Mining (Proprietary) Ltd., a Namibian empowerment company (“EVI”). The Mineral Reserves have an effective date of December 31, 2016. The Qualified Person for the estimate is Peter Montano, P.E., who is our Project Director. Mineral Reserves that will be mined by open pit methods assume a gold price of US$1,250/oz, metallurgical recovery of 98%, and operating cost estimates of US$1.75/t mined (mining), US$13.00/t processed (processing) and US$3.00/t processed (general and administrative). Dilution and ore loss was applied through block averaging such that at a cutoff of 0.45 g/t Au, there is a 1% decrease in tonnes, a 4% reduction in grade and 5% reduction in ounces when compared to the Mineral Resource model. Mineral Reserves are reported at a cutoff of 0.45 g/t Au. La Libertad Mine: Mineral Reserves are reported on a 100% attributable basis, and have an effective date of December 31, 2016. The Qualified Person for the estimate is Kevin Pemberton, P.E., who is our Chief Mine Planning Engineer. Mineral Reserves are based on a conventional open pit mining method, gold price of US$1,250/oz, metallurgical recoveries that range from 90% to 94%, and operating cost estimates of US$3.88/t mined (mining), US$13.31/t processed (processing) and US$4.13/t processed (general and administrative). Dilution and ore loss was applied to the Jabali material through block averaging such that at a cutoff of 0.75-0.76 g/t Au, there is a 15% increase in tonnes, a 26% reduction in grade and 14% reduction in ounces when compared to the Mineral Resource model. No dilution is applied to spent-ore. Mineral Reserves are reported at cutoffs that range from 0.70-0.76 g/t Au. El Limon Mine: Mineral Reserves are reported on a 95% attributable basis; the remaining 5% interest is held by Inversiones Mineras S.A. (“IMISA”). The Mineral Reserves have an effective date of December 31, 2016. The Qualified Person for the estimate is Kevin Pemberton, P.E., who is our Chief Mine Planning Engineer. Mineral Reserves are based on underground long-hole stoping mining methods, gold price of US$1,250/oz, metallurgical recovery of 93.5%, and operating cost estimates of US$58.05-82.39/t of ore mined (mining), US$26.33/t of ore processed (processing) and US$13.14/t processed (general and administrative). Dilution of 20-30% is applied to most zones in addition to 90% mine recovery for all zones. Mineral Reserves are reported at cutoffs that range from 3.04-3.22 g/t Au. Stockpiles: Mineral Reserves are reported in the totals for the Masbate and Otjikoto mines, and were prepared by mine site personnel at each operation. Ore stockpile balances are derived from mining truck movements to individual stockpiles or detailed surveys, with grade estimated from routine grade control methods. Stockpile cutoffs vary by deposit, from 0.25-0.7 g/t Au. Measured and Indicated Mineral Resource Statement Mine Tonnes (t) Gold Grade (g/t Au) Contained Gold Ounces (oz) Contained Gold Kilograms (kg) Measured Kiaka 27,310,000 1.09 953,000 29,600 Gramalote 15,980,000 0.79 406,000 12,600 Total Measured Mineral Resources 1,359,000 42,300 Indicated Fekola 65,820,000 2.13 4,499,000 139,900 Masbate 126,820,000 0.89 3,649,000 113,500 Otjikoto 30,410,000 1.26 1,230,000 38,200 La Libertad 2,800,000 2.36 212,000 6,600 El Limon 2,530,000 5.06 411,000 12,800 Kiaka 96,830,000 0.96 2,986,000 92,900 Gramalote 70,230,000 0.48 1,092,000 34,000 Total Indicated Mineral Resources (includes Stockpiles) 14,079,000 437,900 Measured and Indicated Fekola 65,820,000 2.13 4,499,000 139,900 Masbate 126,820,000 0.89 3,649,000 113,500 Otjikoto 30,410,000 1.26 1,230,000 38,200 La Libertad 2,800,000 2.36 212,000 6,600 El Limon 2,530,000 5.06 411,000 12,800 Kiaka 124,140,000 0.99 3,938,000 122,500 Gramalote 86,220,000 0.54 1,498,000 46,600 Total Measured and Indicated Mineral Resources (includes Stockpiles) 15,438,000 480,200 Inferred Mineral Resource Statement Mine Tonnes (t) Gold Grade (g/t Au) Contained Gold Ounces (oz) Contained Gold Kilograms (kg) Fekola 4,430,000 1.73 246,000 7,600 Masbate 10,100,000 0.74 240,000 7,500 Otjikoto 1,720,000 5.42 299,000 9,300 La Libertad 2,900,000 4.94 460,000 14,300 El Limon 1,000,000 4.43 142,000 4,400 Kiaka 27,330,000 0.93 815,000 25,300 Gramalote 143,060,000 0.40 1,841,000 57,200 Total Inferred Mineral Resources 4,042,000 125,700 Footnotes (Click to expand) Mineral Resources have been classified using the 2014 CIM Definition Standards for Mineral Resources and Mineral Reserves. 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 viability. 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. Fekola Project: Mineral Resources are reported on a 90% attributable basis; the remaining 10% interest will be held by the State of Mali. We expect that the State of Mali will exercise its right to acquire an additional 10% interest in the Fekola Project. For further details of our interest in the Fekola Project, see the heading “Material Properties - Fekola Project - Property Description, Location and Access” in B2Gold's most recently filed Annual Information Form ("AIF") – click here for AIF. The Mineral Resources have an effective date of December 31, 2016. The Qualified Person for the estimate is Tom Garagan, P.Geo., who is our Senior Vice President, Exploration. Mineral Resource estimates assume an open pit mining method, gold price of US$1,400/oz, metallurgical recovery of 92.7%, and average operating cost estimates of US$2.90/t mined (mining), US$20.25/t processed (processing) and US$3.72/t processed (general and administrative). Mineral Resources are reported at a cutoff of 0.6g/t Au. Masbate Gold Project: Mineral Resources are reported on a 100% attributable basis. Pursuant to the ore sales and purchase agreement between Filminera and PGPRC, our wholly-owned subsidiary, PGPRC has the right to purchase all ore from the Masbate Gold Project. The Mineral Resources have an effective date of December 31, 2016. The Qualified Person for the estimate is Tom Garagan, P.Geo., who is our Senior Vice President, Exploration. Mineral Resource estimates assume an open pit mining method, gold price of US$1,400/oz, modeled metallurgical recovery (resulting in average LOM metallurgical recoveries by pit that range from 65% to 82%), and operating cost estimates of US$1.50/t mined (mining), a variable ore differential cost by pit (average cost is US$0.17), US$9.36-10.18/t processed (processing) and US$2.30-3.84/t processed (general and administrative). Mineral Resources are reported at an average cutoff of 0.42 g/t Au. Otjikoto Mine: Mineral Resources are reported on a 90% attributable basis; the remaining 10% interest is held by EVI. The Mineral Resources have an effective date of December 31, 2016. The Qualified Person for the estimate is Tom Garagan, P.Geo., who is our Senior Vice President, Exploration. Mineral Resource estimates that are amenable to open pit mining methods assume a gold price of US$1,400/oz, metallurgical recovery of 98%, and operating cost estimates of US$1.75/t mined (mining), US$13.00/t processed (processing) and US$3.00/t processed (general and administrative). Mineral Resources that are amenable to open pit mining are reported at a cutoff of 0.40 g/t Au. Mineral Resources that are amenable to underground mining are reported at cutoff of 3.00 g/t Au. La Libertad Mine: Mineral Resources are reported on a 100% attributable basis, and have an effective date of December 31, 2016. The Qualified Person for the estimate is Brian Scott, P.Geo., who is our Vice President, Geology and Technical Services. Mineral Resource estimates assume an open pit mining method, gold price of US$1,400/oz, metallurgical recoveries that range from 90% to 94%, and operating cost estimates of US$3.88/t mined (mining), US$13.31/t processed (processing) and US$4.13/t processed (general and administrative). Mineral Resources are reported at cutoffs that range from 0.61-2.85 g/t Au. El Limon Mine: Mineral Resources are reported on a 95% attributable basis; the remaining 5% interest is held by IMISA. Mineral Resources have an effective date of December 31, 2016. The Qualified Person for the estimate is Brian Scott, P.Geo., who is our Vice President, Geology and Technical Services. Mineral Resource estimates assume underground long-hole stoping mining methods, a gold price of US$1,400/oz, metallurgical recovery of 93.5%, and operating cost estimates of US$58.05-82.39/t of ore mined (mining), US$26.33/t of ore processed (processing) and US$13.14/t processed (general and administrative). Mineral Resources are reported at cutoffs that range from 2.7-2.9 g/t Au. Kiaka Project: Mineral Resources are reported on an 81% attributable basis; the remaining interest is held by GAMS-Mining F&I Ltd (9%) a Cypriot company, and the Government of Burkina Faso (10%). The Mineral Resource estimate has an effective date of January 8, 2013. The Qualified Person for the estimate is Ben Parsons, MSc, MAusIMM (CP), Principal Consultant for SRK Consulting. Mineral Resources assume an open pit mining method, gold price of US$1,400/oz, metallurgical recovery of 89.8%, and operating cost estimates of US$1.58/t mined (mining), US$11.89/t processed (processing, and general and administrative). Mineral Resources are reported at a cutoff of 0.4 g/t Au. Gramalote Project: Mineral Resources are reported on a 49% attributable basis; the remaining 51% interest is held by AngloGold Ashanti Limited. Mineral Resources have an effective date of October 6, 2015. The Qualified Person for the estimate is Vaughan Chamberlain, FAusIMM, Senior Vice President, Geology and Metallurgy for AngloGold. Mineral Resources assume an open pit mining method, gold price of US$1,400, metallurgical recovery of 95%, and operating cost estimates of US$5.40/t processed (processing) and US$1.19 /t processed (general and administrative). Mineral Resources are reported at a cutoff of 0.1 g/t Au. Stockpiles: Mineral Resources are reported in the totals for the Masbate and Otjikoto mines, and were prepared by mine site personnel at each operation. Ore stockpile balances are derived from mining truck movements to individual stockpiles or detailed surveys, with grade estimated from routine grade control methods. Stockpile cutoffs vary by deposit, from 0.25-0.7 g/t Au. Share Capital(1) Total Shares Issued and Outstanding 978,827,453 Directors and Management 22,936,735 Stock Options 58,846,889 Restricted Share Units 1,219,109 Total Shares Diluted 1,038,893,451 Market Capitalization (Basic)(2) $3,376,954,713 Market Capitalization (Diluted)(3)(4) $3,584,182,406 (1)Approximate figures are as of SEPTEMBER 7, 2017 (2)Based on the shares currently issued x the closing price of B2Gold shares of C$3.45 per share on SEPTEMBER 7, 2017 (3)Based on the diluted shares x the closing price of B2Gold shares of C$3.45 per share on SEPTEMBER 7, 2017 (4)Does not include any assumed conversion of the Company's convertible senior subordinated notes (Stock options include B2Gold and Volta Resources options) Analyst Coverage The following firms are covering B2Gold and have issued reports: Company Analyst Bank of America Merrill Lynch Lawson Winder BMO Capital Markets Brian Quast Canaccord Genuity Rahul Paul CIBC World Markets Jeff Killeen Clarus Securities Jamie Spratt Cormark Securities Richard Gray GMP Securities Steve Butler Haywood Securities Inc. Dr Geordie Mark JP Morgan John Bridges Macquarie Securities Michael Gray National Bank Financial Don DeMarco PI Financial Corp. Brian Szeto Raymond James Chris Thompson RBC Capital Markets Sam Crittenden Scotia Capital Ovais Habib TD Securities Steven J Green Management Clive T. Johnson - President, Chief Executive Officer & Director Clive Johnson has served as a Director and the President of B2Gold since December 2006 and Chief Executive Officer since March 2007.Click here for full bio Roger Richer - Executive Vice President, General Counsel & Secretary Roger Richer has served as our Executive Vice President, General Counsel since March 2007 and our Secretary since December 2006.Click here for full bio Mike Cinnamond - Senior Vice President, Finance & Chief Financial Officer Mike Cinnamond has served as our Senior Vice President of Finance and Chief Financial Officer since April 1, 2014.Click here for full bio Tom Garagan - Senior Vice President, Exploration Tom Garagan has served as our Senior Vice President of Exploration since March 2007. Click here for full bio Dennis Stansbury - Senior Vice President, Engineering & Project Evaluations Dennis Stansbury has served as our Senior Vice President of Engineering and Project Evaluations (and prior to that our Senior Vice President of Development and Production) since March 2007.Click here for full bio William Lytle - Senior Vice President, Operations William ("Bill") Lytle originally joined the team in 1998 with Bema Gold Corporation, while working on the Company's Kupol and Julietta projects.Click here for full bio Ian MacLean - Vice President, Investor Relations Ian MacLean began his Investor Relations career in 1996 with Nevsun Resources. Click here for full bio Dale Craig - Vice President, Operations Dale Craig has been involved in the mining industry for more than thirty years, and has worked in a variety of mine operations including lead/zinc/copper, coal and gold. Click here for full bio Eduard Bartz - Vice President, Taxation & External Reporting Eduard Bartz has approximately 20 years of direct experience in the mining industry, joining Bema in April 1997.Click here for full bio Brian Scott - Vice President, Geology & Technical Services Mr. Scott was appointed in 2015 and is a registered Professional Geologist with more than 30 years of experience within the exploration/mining industry.Click here for full bio Hugh MacKinnon - Vice President, Geology Hugh MacKinnon is a geologist with over 30 years of experience in mineral exploration. Click here for full bio John Rajala - Vice President, Metallurgy ohn Rajala has more than 30 years of experience in precious metals plant operations, management, engineering and process development.Click here for full bio Neil Reeder - Vice President, Government Relations Neil Reeder joins B2Gold following a distinguished government career of over 35 years with Global Affairs Canada.Click here for full bio Directors Clive T. Johnson - President & Chief Executive Officer & Director Clive Johnson has served as a Director and the President of B2Gold since December 2006 and Chief Executive Officer since March 2007.Click here for full bio Robert Cross - Chairman Robert Cross has more than 25 years of experience as a financier in the mining and oil & gas sectors.Click here for full bio Robert Gayton Robert Gayton is a Chartered Accountant and has acted as a consultant to various public companies since 1987.Click here for full bio Jerry Korpan Jerry Korpan has a Bachelor of Arts from the University of Alberta and a graduate degree from the University of Portland. Click here for full bio Bongani Mtshisi Bongani Mtshisi is a mining engineer by training with more than 17 years of experience working in key commodity sectors such as gold,Platinum, Diamonds and base metals ( Anglo Platinum, Sub Nigel, Gold One, Debeers/ HUF JV). Mr Mtshisi was co-founder and Chairman of Pan African oil(TSXv - PAO), Auryx Gold (TSX- AYX) and BSC Resources LTD. Click here for full bio Kevin Bullock Kevin Bullock is a registered Professional Mining Engineer in the province of Ontario. Click here for full bio George Johnson George Johnson served as B2Gold’s Senior Vice President of Operations from August 2009 until April 2015 when he retired. Click here for full bio Project Profile Click the map below to view our projects Stay Connected Stay connected with B2Gold by signing up for email updates © 2015 B2Gold. All rights reserved. Legal | Site Map Designed and Powered by BLENDER Corporate / Projects / Investors / News / Corporate Responsibility / Contact Us / Careers