B2Gold Corp. (TSX:BTO) (NYSE AMERICAN:BTG) (NSX:B2G) ("B2Gold" or
the "Company") would like to address certain erroneous media
reports from Mali regarding the development of a new mining code
and reconfirm the Company's legal standing pertaining to the Fekola
Mine under the 2012 Mali Mining Code. Statements attributed
to a Government Minister at a recent joint news conference with the
International Monetary Fund suggested that if compromises with
mining companies are not achieved, amendments to the mining code
may be unilaterally implemented. The full details of any
proposed new mining code and the timing for its implementation are
not known at this time. Government officials have advised the
Company that the Minister's comments were taken out of context in
such news report and should not be applied to all mining operations
in Mali.
B2Gold's interest in its Fekola Mine in Mali is
governed by a finalized and enforceable mining convention (as
amended) with the State of Mali that includes stabilization
provisions which provide that the Fekola Mine is subject to the
Mali Mining Code (2012) for the duration of its operations and
subsequent amendments to the Mali Mining Code are not applicable to
it. As a result of these provisions, the Company believes its
interests in Fekola are protected and that any contemplated
amendments in a new mining code will not apply to Fekola without
B2Gold's agreement. No Malian government representative has
informed any B2Gold representatives in Mali or elsewhere that the
government does not agree with the Company's position. B2Gold
has developed an excellent relationship over the last three years
with the Government of Mali. All negotiations between the
Company's senior representatives and the Malian Government
Ministries have been conducted and concluded in an environment of
mutual fairness, respect and transparency.
As previously disclosed, including in our recent
Management’s Discussion & Analysis for the year ended December
31, 2017, in August 2017, the Company finalized certain other
agreements with the State of Mali including a shareholders'
agreement for Fekola S.A., the holder of the Fekola Mine, and a
share purchase agreement for the purchase by the State of Mali of
an additional 10% participating interest in Fekola. These
agreements have been signed by the relevant Malian government
ministers and approved by the Malian Council of Ministers and are
now subject only to final ratification by the Mali National
Assembly, which is now expected at their next scheduled sitting in
April 2018. Upon such ratification, the Company will transfer
ownership of 20% of Fekola SA to the State of Mali.
About B2Gold
Headquartered in Vancouver, Canada, B2Gold Corp.
is the world’s new senior gold producer. Founded in 2007, today,
B2Gold has five operating gold mines and numerous exploration and
development projects in various countries including Nicaragua, the
Philippines, Namibia, Mali, Burkina Faso, Colombia and Finland.
B2Gold is well positioned in achieving
transformational growth in 2018. With the planned first full year
of production from the large, low-cost Fekola Mine in southwest
Mali, consolidated gold production is forecast to be between
910,000 and 950,000 ounces. This represents an increase in annual
consolidated gold production of approximately 300,000 ounces in
2018 versus 2017. B2Gold’s forecast consolidated cash operating
costs are expected to remain low in 2018 (between $505 and $550 per
ounce) and all-in sustaining costs are expected to decrease by
approximately 6% versus 2017 (between $780 and $830 per ounce).
On Behalf of B2GOLD CORP.
“Clive T.
Johnson”
President and Chief Executive
Officer
For more information on B2Gold please visit the
Company website at www.b2gold.com or contact:
Ian MacLean
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Katie Bromley |
Vice President,
Investor Relations |
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Manager, Investor
Relations & Public Relations |
604-681-8371
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604-681-8371 |
imaclean@b2gold.com |
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kbromley@b2gold.com |
The Toronto Stock Exchange and the NYSE American
LLC neither approve nor disapprove the information contained in
this news release.
This news release includes certain
“forward-looking information” and “forward-looking statements”
(collectively “forward-looking statements”) within the meaning of
applicable Canadian and United States securities legislation,
including projections, guidance, forecasts, estimates and other
statements regarding future financial and operational performance,
events, production, mine life, revenue, cash flows, costs and the
results of exploration, including, the potential new Mali mining
code, the terms of any such new Mali mining code, the application
and impact of any such new mining code or amendments on B2Gold and
Fekola and the stability provisions in the Fekola mining convention
protecting B2Gold from amendments in any new Mali mining code, and
the ratification of the Fekola share purchase agreement and
shareholder agreement. All statements in this news release that
address events or developments that we expect to occur in the
future are forward-looking statements. Forward-looking statements
are statements that are not historical facts and are generally,
although not always, identified by words such as “expect”, “plan”,
“anticipate”, “project”, “target”, “potential”, “schedule”,
“forecast”, “budget”, “estimate”, “intend” or “believe” and similar
expressions or their negative connotations, or that events or
conditions “will”, “would”, “may”, “could”, “should” or “might”
occur. All such forward-looking statements are based on the
opinions and estimates of management as of the date such statements
are made. Forward-looking statements necessarily involve
assumptions, risks and uncertainties, certain of which are beyond
B2Gold’s control, including risks and assumptions associated with
the volatility of metal prices and our common shares; risks and
dangers inherent in exploration, development and mining activities;
uncertainty of reserve and resource estimates; risk of not
achieving production, cost or other estimates; risk that actual
production, development plans and costs differ materially from the
estimates in our feasibility studies; risks related to hedging
activities and ore purchase commitments; the ability to obtain and
maintain any necessary permits, consents or authorizations required
for mining activities; uncertainty about the outcome of
negotiations with the Government of Mali; risks related to
environmental regulations or hazards and compliance with complex
regulations associated with mining activities; the ability to
replace mineral reserves and identify acquisition opportunities;
unknown liabilities of companies acquired by B2Gold; ability to
successfully integrate new acquisitions; fluctuations in exchange
rates; availability of financing; risks relating to financing and
debt; risks related to operations in foreign and developing
countries and compliance with foreign laws; risks related to remote
operations and the availability of adequate infrastructure,
fluctuations in price and availability of energy and other inputs
necessary for mining operations; shortages or cost increases in
necessary equipment, supplies and labour; regulatory, political and
country risks; risks related to reliance upon contractors, third
parties and joint venture partners; challenges to title or surface
rights; dependence on key personnel and ability to attract and
retain skilled personnel; the risk of an uninsurable or uninsured
loss; adverse climate and weather conditions; litigation risk;
competition with other mining companies; changes in tax laws;
community support for our operations including risks related to
strikes and the halting of such operations from time to time; risks
related to failures of information systems or information security
threats; ability to maintain adequate internal control over
financial reporting as required by law; risks relating to
compliance with anti-corruption laws; as well as other factors
identified and as described in more detail under the heading “Risk
Factors” in B2Gold’s most recent Annual Information Form and
B2Gold’s other filings with Canadian securities regulators and the
U.S. Securities and Exchange Commission (the “SEC”), which may be
viewed at www.sedar.com and www.sec.gov, respectively (the
“Websites”). The list is not exhaustive of the factors that may
affect the Company’s forward-looking statements. There can be no
assurance that such statements will prove to be accurate, and
actual results, performance or achievements could differ materially
from those expressed in, or implied by, these forward-looking
statements. Accordingly, no assurance can be given that any events
anticipated by the forward-looking statements will transpire or
occur, or if any of them do, what benefits or liabilities B2Gold
will derive therefrom. The Company’s forward-looking statements
reflect current expectations regarding future events and operating
performance and speak only as of the date hereof and the Company
does not assume any obligation to update forward-looking statements
if circumstances or management's beliefs, expectations or opinions
should change other than as required by applicable law. The
Company’s forward-looking statements are based on the applicable
assumptions and factors management considers reasonable as of the
date hereof, based on the information available to management at
such time. These assumptions and factors include, but are not
limited to, assumptions and factors related to the Company's
ability to carry on current and future operations, including
development and exploration activities; the timing, extent,
duration and economic viability of such operations, including any
mineral resources or reserves identified thereby; the accuracy and
reliability of estimates, projections, forecasts, studies and
assessments; the Company’s ability to meet or achieve estimates,
projections and forecasts; the availability and cost of inputs; the
price and market for outputs, including gold; the timely receipt of
necessary approvals or permits; the ability to meet current and
future obligations; the ability to obtain timely financing on
reasonable terms when required; the current and future social,
economic and political conditions and other assumptions and factors
generally associated with the mining industry. For the reasons set
forth above, undue reliance should not be placed on forward-looking
statements.
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