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 > The whole area is a mess

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Comment by Galvanizeron Apr 17, 2024 11:20am

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Post# 35993787

RE:RE:The whole area is a mess

B2Gold accepted the $500 million gold prepayment in exchange for equal monthly deliveries of gold from July 2025 to June 2026 totaling 264,775 ounces ($1,888 per ounce ($500,000,000 / 264,775 ounces)).

With the current price, B2Gold gave up more than $500 per ounce of revenue!!!

Rest assured, the financiers would have protected their prepayment advance by having all of B2Gold’s production pledged as security on the prepayment and not just the Fekola’s gold production.

January 23, 2024 News Release

Upfront payment of $500 million, used to fund sustaining, development and growth projects across the operating portfolio, and increase financial capacity for potential growth projects in Namibia and Colombia: On January 23, 2024, B2Gold completed a gold prepayment for $500 million, based on gold forward curve prices averaging approximately $2,191 per ounce, in exchange for equal monthly deliveries of gold from July 2025 to June 2026 totaling 264,775 ounces, representing approximately 10% of expected annual gold production in each of 2025 and 2026 (subject to finalization of production guidance for 2025 and 2026). The gold forward sale and prepay arrangement (the “Gold Prepay”) was executed by existing revolving credit facility participants Bank of Montreal, Canadian Imperial Bank of Commerce, ING Capital Markets LLC, and National Bank of Canada.

MaterialsMan wrote: Maybe he did some other stuff for a reason as well.
I do not know any details of the hedging other than it supposedly put 500 million in the kitty.
Can anyone confirm that this forward sale is for real?
If B2 isn't there to mine the gold for one reason or another, do they get to keep the money.
I'd wager there is a lot of fine print in that contract. I wonder who bought the gold. I saw somewhere that a gold refinery is being built in the capitol city.
Maybe they bought it.