B2Gold Corp T.BTO

Alternate Symbol(s): BTG

Metals & Mining Gold

B2Gold Corp. is an international gold producer. The Company has operating gold mines in Mali, Namibia and the Philippines, the Goose Project under construction in northern Canada, and numerous development and exploration projects in various countries, including Mali, Colombia, and Finland. The Fekola Mine is located in southwest Mali, on the border between Mali and Senegal, approximately 500 kilometers due west of the capital city, Bamako. The Masbate Mine is located approximately 360 kilometers southeast of Manila. The Otjikoto Mine is located in the north-central part of Namibia, approximately 300 kilometers north of Windhoek and is a gold producer. The Company also owns the Gramalote Project in Colombia. It also has an interest in the Back River Gold District, which is located in Nunavut, Canada. The Back River Gold District consists of approximately five mineral claims blocks along an 80-kilometer belt. It is engaged in operating Goose Project, which is located in Nunavut, Canada.

TSX:BTO - Post by User

B2Gold Corp > Valuation

<< Previous

Bullboard Posts

Next >>

Post by templetooth2on May 25, 2021 1:38pm

272 Views

Post# 33260714

Valuation

The best comparable for B2 is Endeavour. B2 has a market cap of $5.6 Billion and EDV is $6.1 B.

B2 is around 1 million annual ounces and EDV is about 1.3 or 1.4 million.

Scotia's weekly gold comparisons came out this AM, so I expect they're using Friday closing numbers. They have B2 cash flowing 81 and 87 cents per share this year and next. EDV will cash flow $5.57 and $5.27 per share.

Therefore, B2 is valued at 6.5 X this year's CF vs 4.2 X for Endeavour...

For 2022, B2 is at 6.1 X and EDV 4.5 X.

I've made this point before: B2 is nowhere near "undervalued" when compared to a true comparable. In fact, it looks like B2 might be 40 - 50 % OVER-valued !!! You're welcome.

<< Previous

Bullboard Posts

Next >>

Rig Count Soars as Utilization Surpasses Industry Averages