Canaccord
B2Gold* (BTO : TSX : $3.17), Net Change: -0.01, % Change: -0.31%, Volume: 5,840,443
What's next? B2Gold's much tallyhoed Market Vectors Junior Gold Miner ETF (GDXJ) deletion event came and went last week with 48,688,208 shares traded on Friday. B2Gold is a Canaccord Genuity Focus List, pick based on one of the best production growth profiles in the sector, with expected production growth from 158 koz in 2012 to 550 koz in 2015 (and potentially to 750 koz by 2017 if Gramalote is advanced to production). Growth to the +500 koz intermediate producer category by 2015 is largely permitted and fully funded, leading to a relatively low development risk profile. AngloGold Ashanti’s (AU) Navachab gold mine in Namibia (production of roughly 80,000 oz per year) could possibly be up for sale. If that is true, B2Gold would likely have the most synergies and in our view, would be the best positioned to take advantage of the opportunity. This would also leave open the possibility for an asset swap (B2Gold's stake in Gramalote for Navachab). It is difficult to definitively say what the outcome of the process would be, possible timeline and the price AngloGold may have in mind for Navachab. That said, if an asset swap or purchase of this asset were to take place, it may be a potentially positive catalyst for B2Gold.