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.

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B2Gold Corp > Bto downgraded to 2.50 share prices by year end

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Comment by Meesha1on Oct 01, 2023 9:53pm

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Post# 35664387

RE:Bto downgraded to 2.50 share prices by year end

Umm. Probably going to regret asking this, since I don't think we're dealing with Benjamin Graham here, but can you explain why they would cut the dividend? I'm as concerned as anyone about political risk, but BTO has more than 2yrs of dividends in cash and no debt. Generating free cash flow in excess of the current dividend has only taken a pause due to recent M&A. Otherwise at current strip pricing, cash flow easily covers the dividend and going into 2025, when Capex tapers off, they start generating well north of $500MM of free cash flow. The valuation would be less than 3.0x EV/EBITDA and less than 4.0x P/CFPS. Also, what is going to be disastorous about the 3rd quarter?

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