B2Gold Corp T.BTO

BTO’d…

[Galvanizer]

Some thoughts on B2 and its 'risk profile' and planned activities:

 

1) 1,295,000 shares issued (a share consolidation will not change the company’s performance but does create a higher share price allowing ‘shorters’ more room to play and push the price down).

2) B2 includes Calibre’s gold production to “pump” up its reporting – this is sleight of hand and misleading.

3) 2024 total gold production is 800,000-to-890,000 gold ounces - this is a significant drop from 2023

4) Fekola represents approximately 60% of B2’s 2023 actual gold production and its 2024 gold production is falling – not a good trend!  Why the delay in receiving the licence from Mali?  Did someone drop the ball or will Mali consider following Panama’s example?

5) 2024 AISC is $1,360-to-$1,420 per ounce – that is more than a 12% increase from 2023 – B2 claims to be a ‘low-cost gold producer’… ha!

6) Goose Project capital cost increased from $800 to $1,050… that is more a 31% increase!  What other spending surprises are coming (“underestimated labour and site operating costs” and B2’s review “identified deficiencies in project components including power generation and distribution, laboratory, piping, and controls and instrumentation”… so much for a B2’s original due diligence!!!)?

7) 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 – sold gold upfront and lost some upside potential…

8) $63 million to be spent on exploration…

 

[Goldenpou]

This is interesting but the share price will fall because again please understand ---- that it is now the same sellers selling to themselves, the sellers are also the buyers, they can in theory do this until $2-3 because then other algos are programmed to buy  at below a  super low takeover price, or 7% dividends, or whatever else triggers a ridiculous price. Not there yet it seems

[Galvanizer]

To clarify... Total Shares Issued - 1.29B is 1,290,000.000 shares I omitted missed three zeroes in my original post,,, this demostrates just how many shares are floating out there thanks to management...   

[Galvanizer]

Wow... you really do need to read in between the lines!!!  I re-read the B2 press release and did a quick recalculation on the $500M prepayment note... 7) 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 – sold

[Sloaner123]

Did you think the deal would be interest free? The delta you are pointing out is the cost of borrowing.....nothing is free.

[Galvanizer]

Agreed.  Nothing is free but B2 did not provide 'full, plain, and true disclosure' on the prepayment arrangement. With 264,775 ounces at the current gold price of $2,015 less the calculated $1,888 prepayment arrangment price, the cost of financing is US$33,626,000 for starters... If the gold price continues to increase (upto June 2026), the cost of financing increases! Neither of

[Nextlegup]

Galvanizer That curve...You're talking a YEAR and a HALF out!  A LOT can happen in a that time, it's an extremely volatile market in a crazy world so to assume there is no premium is pretty naive in my opinion  

[Galvanizer]

Did not assume that there would be no premium just pointed out that B2 did not disclose key points regarding the prepayment transaction including the $1,888 per ounce calculation, the cost of financing based on the current gold price.totaling $33,626,000, and that the cost of financing could increase over the period ending June 2026 as the gold price increases.... Why would B2 not disclose more