VANCOUVER, April 15, 2021 /PRNewswire/ - B2Gold Corp.
(TSX: BTO) (NYSE AMERICAN: BTG) (NSX: B2G) ("B2Gold" or the
"Company") is pleased to announce its gold production and gold
revenue for the first quarter of 2021. All dollar figures are in
United States dollars unless
otherwise indicated.
2021 First Quarter Highlights
- Total gold production of 220,644 ounces (including 15,001
ounces of attributable production from Calibre Mining Corp.
("Calibre")), 9% (18,542 ounces) above budget, and consolidated
gold production of 205,643 ounces from the Company's three
operating mines, 9% (17,291 ounces) above budget
- Consolidated gold revenue was $362
million on sales of 202,330 ounces at an average price of
$1,791 per ounce
- No Lost-Time-Injury ("LTI") incidents at the Company's
operating mines in the first quarter of 2021, extending the number
of days without an LTI to 437 days for Fekola, 866 days for Masbate
and 154 days for Otjikoto as at March 31,
2021
- Following the successful completion of the Fekola mill
expansion to 7.5 million tonnes per annum ("Mtpa") in September 2020, Fekola's mill throughput was a
quarterly record of 2.07 million tonnes in the first quarter of
2021, 9% above budget and 19% higher than the first quarter of
2020
- For full-year 2021, B2Gold remains well positioned for
continued strong operational and financial performance with total
gold production guidance of between 970,000 - 1,030,000 ounces
(including 50,000 – 60,000 attributable ounces projected from
Calibre) with total consolidated forecast cash operating costs of
between $500 - $540 per ounce (see "Non-IFRS Measures")
and total consolidated all-in sustaining costs ("AISC") (see
"Non-IFRS Measures") of between $870 - $910 per
ounce
- Based on current assumptions, including a gold price of
$1,800 per ounce, the Company expects
to generate cashflows from operating activities of approximately
$630 million for the full-year
2021
- Selected as the recipient of five additional mining industry
awards in the Philippines and
Mali
The Company continues to address the COVID-19 pandemic and
minimize its potential impact at B2Gold's operations. B2Gold places
the safety and well-being of its workforce and all stakeholders as
its highest priority and continues to encourage input from all its
stakeholders as the COVID-19 situation evolves. The Company
continues to implement measures and precautionary steps to manage
and respond to the risks associated with COVID-19 to ensure the
safety of B2Gold's employees, contractors, suppliers and
surrounding communities where the Company works while continuing to
operate. The Company is continually updating these plans and
response measures based on the safety and well-being of its
workforce, the severity of the pandemic in areas where it operates,
global response measures, government restrictions and extensive
community consultation. The Company is working closely with
national and local authorities, including labour unions, and
continues to closely monitor each site's situation, including
public and employee sentiment to ensure that stakeholders are in
alignment with continued safe operation of its mines.
Gold Production
Total consolidated gold production in the first quarter of
2021 was 220,644 ounces (including 15,001 ounces of
attributable production from Calibre), above budget by 9% (18,542
ounces), with solid performances from the Company's three
operating mines which all exceeded their budgeted production for
the quarter. The Fekola Mine in Mali continued its strong operational
performance through the first quarter of 2021, producing 125,088
ounces of gold, 7% (8,088 ounces) above budget, as the Fekola
processing facilities continued to outperform. Following the
successful completion of the Fekola mill expansion to 7.5 Mtpa (an
increase of 1.5 Mtpa from an assumed base rate of 6 Mtpa) in
September 2020, mill throughput was a
quarterly record of 2.07 million tonnes in the first quarter of
2021, 9% above budget and 19% higher than the first quarter of
2020. The Masbate Mine in the
Philippines also had a strong start to the year with first
quarter gold production of 57,513 ounces, well-above budget by 14%
(6,852 ounces). The Otjikoto Mine in Namibia performed well during the first
quarter of 2021, producing 23,042 ounces of gold, 11% (2,351
ounces) above budget, with processed tonnes, grade and recoveries
all slightly better than budget. As expected, compared to the first
quarter of 2020, total consolidated gold production was lower by
17% (44,218 ounces), due to planned significant waste stripping
campaigns at both the Fekola and Otjikoto mines, scheduled for the
first half of 2021 (for Phase 5 and Phase 6 of the Fekola Pit, and
Phase 3 of the Wolfshag and Otjikoto pits). Gold production is
expected to significantly increase in the second half of 2021, when
mining at Fekola reaches the higher-grade zones of the Fekola Pit
and mining at Otjikoto reaches the higher-grade zone at the base of
the Wolfshag Pit.
The Company was recently selected as the recipient of five
mining industry awards in the
Philippines and Mali,
including:
- In the Philippines, the two
companies that comprise the Masbate Gold Project, Filminera
Resources Corporation and Phil. Gold Processing & Refining
Corp., received four awards in the recently-concluded 2020
Presidential Mineral Industry Environmental Awards ("PMIEA"), in
the "Best Mining Forest and Safest Mine" categories. The PMIEAs are
given to mining companies that exhibit best practices in safety and
health management, environmental protection and community
development.
- In Mali, a subsidiary of the
Company, B2Gold Mali SARL, was recognized by Le Baromètre, a
citizen watch organization that monitors the performance of public
and private sector organizations, as Mali's "Best Mining Company of 2020".
For full-year 2021, the Company's total gold production is
forecast to be between 970,000 - 1,030,000 ounces (including 50,000
- 60,000 attributable ounces projected from Calibre), with total
consolidated cash operating costs forecast to be between
$500 - $540 per ounce and total consolidated AISC
forecast to be between $870 -
$910 per ounce. The Company's 2021
production guidance does not include the potential upside to
increase Fekola's gold production in 2021 from the nearby Cardinal
resource and processing capacity currently being investigated.
For full-year 2021, the Company's consolidated gold production
from its three operating mines is expected to be significantly
weighted to the second half of 2021 due to planned significant
waste stripping at both the Fekola and Otjikoto mines in the first
half of 2021. For the first half of 2021, consolidated gold
production is expected to be between 365,000 – 385,000 ounces,
which is expected to increase significantly to between 555,000 –
585,000 ounces during the second half of 2021 when mining
reaches the higher grade portion of Phase 5 of the Fekola Pit
and Phase 3 of the Wolfshag Pit. Based mainly on the weighting of
production and timing of stripping, consolidated cash
operating costs are expected to be between $620 - $660 per
ounce in the first half of 2021, before significantly
improving to between $380 -
$420 per ounce during the second
half of 2021. In addition, consolidated AISC are expected to
be between $1,040 - $1,080 per ounce in the first half of 2021,
before significantly improving to between $745 - $785 per
ounce during the second half of 2021.
Gold Revenue
For the first quarter of 2021, consolidated gold revenue was
$362 million on sales of 202,330
ounces at an average price of $1,791
per ounce, compared to $380 million
on sales of 239,500 ounces at an average price of $1,588 per ounce in the first quarter of 2020.
The decrease in gold revenue of 5% ($18
million) was 16% attributable to the decrease in gold ounces
sold (mainly due to the lower gold production), partially offset by
an 11% impact from the increase in the average realized gold price.
Operations
Mine-by-mine gold production in the first quarter of 2021
(including the Company's estimated 33% share of Calibre's
production) was as follows:
Mine
|
Q1
2021 Gold
Production (ounces)
|
First-Half
2021 Forecast Gold Production (ounces)
|
Second-Half
2021 Forecast Gold
Production (ounces)
|
Full-year
2021 Forecast Gold
Production (ounces)
|
Fekola
|
125,088
|
220,000 -
230,000
|
310,000 -
330,000
|
530,000 -
560,000
|
Masbate
|
57,513
|
100,000 -
105,000
|
100,000 -
105,000
|
200,000 -
210,000
|
Otjikoto
|
23,042
|
45,000 -
50,000
|
145,000 -
150,000
|
190,000 -
200,000
|
B2Gold
Consolidated (1)
|
205,643
|
365,000 –
385,000
|
555,000 –
585,000
|
920,000 –
970,000
|
|
|
|
|
|
Equity interest
in Calibre (2)
|
15,001
|
25,000 -
30,000
|
25,000 -
30,000
|
50,000 -
60,000
|
|
|
|
|
|
Total
|
220,644
|
390,000 –
415,000
|
580,000 –
615,000
|
970,000 –
1,030,000
|
|
|
(1)
|
"B2Gold
Consolidated" - gold production is presented on a 100% basis, as
B2Gold fully consolidates the results of its Fekola, Masbate and
Otjikoto mines in its consolidated financial statements (even
though it does not own 100% of these
operations).
|
(2)
|
"Equity interest
in Calibre" - represents the Company's approximate 33% indirect
share of the operations of Calibre's El Limon and La Libertad
mines. B2Gold applies the equity method of accounting for its 33%
ownership interest in Calibre.
|
Fekola Gold Mine - Mali
The Fekola Mine in Mali
continued its strong operational performance through the first
quarter of 2021, producing 125,088 ounces of gold, 7% (8,088
ounces) above budget, as the Fekola processing facilities continued
to outperform. Following the successful completion of the Fekola
mill expansion to 7.5 Mtpa (an increase of 1.5 Mtpa from an assumed
base rate of 6 Mtpa) in September
2020, mill throughput was a quarterly record of 2.07 million
tonnes in the first quarter of 2021, which was 9% above budget and
19% higher than the first quarter of 2020. Fekola's
higher-than-budgeted mill throughput was mainly due to favourable
ore fragmentation and hardness, and optimization of the grinding
circuit. As expected, compared to the first quarter of 2020, gold
production was lower by 24% (38,923 ounces), as a result of the
planned significant waste stripping and lower mined ore grades, as
Phases 5 and 6 of the Fekola Pit are developed during the
first half of 2021. Mined ore tonnage and grade continue to
reconcile well with the Fekola resource model, and ore production
is expected to significantly increase in the second half of 2021
when mining reaches the higher-grade zones of the Fekola Pit. As at
March 31, 2021, the Fekola Mine had
achieved 437 days without a LTI.
For the first quarter of 2021, mill feed grade was 1.99 grams
per tonne ("g/t") compared to budget of 2.03 g/t and 3.11 g/t in
the first quarter of 2020; mill throughput was 2.07 million tonnes
compared to budget of 1.91 million tonnes and 1.75 million tonnes
in the first quarter of 2020; and gold recovery averaged 94.4%
compared to budget of 94.0% and 93.8% in the first quarter of 2020.
Processed grade was lower compared to the first quarter of 2020,
mainly as a result of the focus on higher mill feed grade and the
stockpiling strategy used during the mill expansion activities in
the first quarter of 2020, in addition to the aforementioned lower
mined ore grades in the first quarter of 2021as Phases 5 and 6
of the Fekola Pit are developed.
The Fekola mill has the potential to run above the expanded
annualized throughput rate of 7.5 Mtpa and analysis is currently
underway to determine the optimum throughput rate. For 2021
budgeting purposes, the Company has assumed a throughput rate of
7.75 Mtpa. Mill processing trials conducted in the fourth quarter
of 2020 demonstrate the potential to optimize the grind-throughput
capacity of the expanded facility and increase hard-rock
throughput, and support the addition of saprolite ore tonnage in
excess of the hard-rock capacity. Based on positive results to
date, Fekola's annualized throughput rate is expected to continue
to remain above 8.0 Mtpa.
Production planning for the nearby Cardinal resource, located
within 500 metres of the current Fekola resource pit, is currently
underway (the initial Inferred Mineral Resource estimate for
Cardinal is 640,000 ounces of gold in 13.0 million tonnes of ore at
1.54 g/t gold). Grade control drilling at Cardinal has been
completed, and preparations for a bulk sample are underway with
sampling expected to begin in the second quarter of 2021. An
Environmental and Social Impact Assessment has been completed and
submitted to the Malian authorities. Approval of the addition of
Cardinal to the Fekola environmental permit is expected shortly and
following this, an application will be made to add mining at
Cardinal to the Fekola Mine plan.
For full-year 2021, the Fekola Mine is expected to produce
between 530,000 - 560,000 ounces of gold at cash operating
costs of between $405 - $445 per
ounce and AISC of between $745
- $785 per ounce. Additional mining from Cardinal and
processing capacity are currently being investigated (as discussed
above), with the potential to increase Fekola's budgeted 2021 and
longer-term gold production.
As a result of the planned waste stripping and lower mined ore
grades in the first half of 2021, as Phase 5 and 6 of the Fekola
Pit are developed, production is expected to be significantly
weighted to the second half of 2021 (when mining reaches the
higher grade portion of Phase 5 of the Fekola Pit). For the
first half of 2021, Fekola's gold production is expected to be
between 220,000 – 230,000 ounces, which is expected to increase
significantly to between 310,000 – 330,000 ounces during the second
half of 2021. Based mainly on the weighting of production and
timing of waste stripping, Fekola's cash operating costs are
expected to be between $530 -
$570 per ounce in the first half
of 2021, before significantly improving to between $315 - $355 per
ounce during the second half of 2021. In addition,
Fekola's AISC are expected to be between $850 - $890 per
ounce in the first half of 2021, before significantly
improving to between $670 -
$710 per ounce during the second
half of 2021.
Fekola Solar Plant
Following the temporary suspension of solar plant construction
activities in April 2020 due to COVID-19 restrictions,
site activities recommenced on October 2, 2020, and
construction progress is now approximately 95% complete.
On January 5, 2021, a fire in the solar storage yard destroyed
approximately 25% of the solar panels for the
project. Replacement panels have been sourced and are
scheduled to arrive on site by
mid-May 2021. Approximately 25% of the solar field came
online on January 28, 2021 and solar production reached
75% of full installed capacity by the end of March 2021 when the plant was turned over to the
Fekola operations team. Solar power production with only 75%
installed capacity has exceeded daily baseline targets for the full
project, with several days of fuel cost savings of over
$32,000 versus a goal of $25,000 per day, and replacement of up to 20% of
the total daily power versus a baseline goal of 18%.
The schedule for installation of the remaining 25% is contingent
on the delivery of the replacement panels, but full construction
completion is now projected by the end of the second
quarter of 2021. The Company does not anticipate any
significant impact on Fekola's 2021 budgeted cash operating costs
as a result of the delay in completion of the solar plant. The
existing heavy fuel oil ("HFO") and diesel power plant have an
installed capacity of 64 megawatts while Fekola's expanded mill
facilities require only approximately 40 megawatts for continuous
operations. The solar plant is therefore not a necessary component
to sustain the higher process plant production rate but is expected
to reduce Fekola's operating costs and emissions by decreasing
power plant fuel consumption and maintenance costs. When the plant
is fully commissioned, it is expected to reduce HFO consumption by
over 13 million litres per year and lower carbon dioxide emissions
by an estimated 39,000 tonnes per year.
Masbate Gold Mine – the
Philippines
The Masbate Mine in the
Philippines also had a strong start to the year with first
quarter gold production of 57,513 ounces, well-above budget by 14%
(6,852 ounces). Gold production improved against budget mainly due
to higher-than-budgeted mill recoveries (10% above budget) and
included processed ore from two main sources. In the first
quarter of 2021, recoveries relating to mill feed sourced from
high-grade sulfide ore mined from Main Vein Pit Phases 4 and 5 in
the quarter were 8% above budget, while recoveries relating to
processed low-grade stockpile tonnage, originally mined from the
Colorado Pit, were 7% above budget. In addition, oxide ore
processed during the quarter was 4% higher-than-budget which also
contributed to the higher recoveries. Compared to the first quarter
of 2020, gold production in the first quarter of 2021 was higher by
28% (12,641 ounces), mainly due to higher mined ore grades in the
quarter, as a result of mining through a higher-grade zone of the
Main Vein Pit. The Masbate Mine continued its remarkable safety
performance, extending the number of days without an LTI to 866
days as at March 31, 2021.
For the first quarter of 2021, mill feed grade was 1.10 g/t
compared to budget of 1.06 g/t and 0.90 g/t in the first quarter of
2020; mill throughput was 1.95 million tonnes compared to budget of
1.95 million tonnes and 1.87 million tonnes in the first quarter of
2020; and gold recovery averaged 83.6% compared to budget of 75.7%
and 83.2% in the first quarter of 2020.
For full-year 2021, the Masbate Mine is expected to produce
between 200,000 - 210,000 ounces of gold at cash operating
costs of between $650 - $690 per ounce and AISC of
between $955 - $995 per ounce. Masbate's gold
production is scheduled to be relatively consistent throughout
2021.
Otjikoto Gold Mine - Namibia
The Otjikoto Mine in Namibia
performed well during the first quarter of 2021, producing 23,042
ounces of gold, 11% (2,351 ounces) above budget, with processed
tonnes, grade and recoveries all slightly better than budget. As
expected, compared to the first quarter of 2020, gold production
was significantly lower by 45% (18,707 ounces), as processed ore is
primarily being sourced from existing stockpiles while significant
waste stripping operations continue at both the Wolfshag and
Otjikoto pits. Mined ore tonnage and grade continue to reconcile
well with Otjikoto's resource model, and ore production is forecast
to significantly increase in the second half of 2021 when mining
reaches the higher-grade zone at the base of the Wolfshag Pit. The
Otjikoto Mine has a remarkable safety record, with no LTI's for the
period from March 27, 2018 until
October 29, 2020, when an LTI for a
fractured ankle occurred. As at March 31,
2021, the Otjikoto Mine had achieved 154 days without an
LTI.
For the first quarter of 2021, mill feed grade was 0.82 g/t
compared to budget of 0.79 g/t and 1.54 g/t in the first quarter of
2020; mill throughput was 0.89 million tonnes compared to budget of
0.84 million tonnes and 0.86 million tonnes in the first quarter of
2020; and gold recovery averaged 97.6% compared to budget of 97.3%
and 98.4% in the first quarter of 2020.
Development of the Wolfshag underground mine continues to
progress on schedule. In the fourth quarter of 2020, development of
the portal was completed, and development of the primary
underground ramp commenced. Development continued during the first
quarter of 2021, and stope ore production is expected to commence
in early 2022, in-line with original estimates. The initial
underground Mineral Reserve estimate for the down-plunge extension
of the Wolfshag orebody included 210,000 ounces of gold in 1.2
million tonnes of ore at 5.57 g/t gold.
For full-year 2021, the Otjikoto Mine in Namibia is expected to produce between 190,000
- 200,000 ounces of gold, as high-grade ore is scheduled to be
sourced from Phase 3 of the Wolfshag Pit in the second half of
2021. Otjikoto's cash operating costs are forecast to be between
$480 - $520 per ounce and
AISC to be between $830 -
$870 per ounce.
Approximately 70% of the gold produced in 2021 is expected to be
mined from Phase 3 of the Wolfshag Pit, with material ore
production starting early in the third quarter of 2021 following
the waste stripping campaign. As a result of the timing of this
high-grade ore mining, Otjikoto's production is expected to be
significantly weighted to the second half of 2021. For the first
half of 2021, Otjikoto's gold production is expected to be between
45,000 – 50,000 ounces, before increasing significantly to between
145,000 – 150,000 ounces during the second half of 2021. Based
mainly on the weighting of the planned production and timing of
higher waste stripping, Otjikoto's cash operating costs are
expected to be between $940 -
$980 per ounce in the first half
of 2021, before significantly improving to between $330 - $370 per
ounce during the second half of 2021. In addition,
Otjikoto's AISC are expected to be between $1,600 - $1,640 per
ounce in the first half of 2021, before significantly
improving to between $580 -
$620 per ounce during the second
half of 2021. In the first quarter of 2021, gold production at
Otjikoto was forecast to be lower and costs forecast to be higher
than the second quarter of 2021, due to the significant amount of
waste stripping and lower stockpile grades processed early in the
year.
Otjikoto's higher 2021 gold production level of between 190,000
– 200,000 ounces is expected to continue through to 2024, with
production from Wolfshag underground expected to commence in early
2022 to supplement ore from the Otjikoto Pit as well as existing
medium and low-grade stockpiles for approximately three years based
on current estimates.
Outlook
The Company is pleased with its first quarter 2021
production results as outlined in this news release. Based on a
strong first quarter, the Company is on track to meet its annual
gold production guidance for 2021 of between 970,000 -
1,030,000 ounces (including 50,000 - 60,000 attributable ounces
projected from Calibre) with total consolidated cash operating
costs of between $500 - $540 per ounce and total consolidated AISC of
between $870 - $910 per ounce.
First Quarter 2021 Financial Results - Conference Call
Details
B2Gold will release its first quarter 2021 financial
results after the North American markets close on Tuesday, May 4, 2021.
B2Gold executives will host a conference call to discuss the
results on Wednesday, May 5, 2021, at
10:00 am PST/1:00 pm EST. You may access the call by dialing
the operator at +1 (778)-371-9827 / +1 (647)-427-7450 (Vancouver/Toronto) or toll free at +1 (888)-231-8191
prior to the scheduled start time or you may listen to the call via
webcast by clicking:
https://www.webcaster4.com/Webcast/Page/1493/40852. A playback
version will be available for two weeks after the call at +1
(416)-849-0833 (local or international) or toll free at +1
(855)-859-2056 (passcode 5695701).
About B2Gold Corp.
B2Gold is a low-cost international senior gold producer
headquartered in Vancouver,
Canada. Founded in 2007, today, B2Gold has operating gold
mines in Mali, Namibia and the
Philippines and numerous exploration and development
projects in various countries including Mali and Colombia. B2Gold continues to forecast total
consolidated gold production of between 970,000 and 1,030,000
ounces in 2021.
Qualified Persons
Bill Lytle, Senior Vice President
of Operations, a qualified person under NI 43-101, has approved the
the scientific and technical information related to operations
matters contained in this news release.
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
|
Katie Bromley
|
|
Vice President,
Investor Relations
|
Manager,
Investor Relations & Public Relations
|
|
604-681-8371
|
604-681-8371
|
|
imaclean@b2gold.com
|
kbromley@b2gold.com
|
|
The Toronto Stock Exchange and NYSE American LLC neither
approve nor disapprove the information contained in this news
release.
Production results and production guidance presented in this
news release reflect total production at the mines B2Gold operates
on a 100% project basis. Please see our Annual Information Form
dated March 30, 2021 for a discussion
of our ownership interest in the mines B2Gold operates.
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; outlook; guidance;
forecasts; estimates; and other statements regarding future or
estimated financial and operational performance, gold production
and sales, revenues and cash flows, and capital costs (sustaining
and non-sustaining) and operating costs, including projected cash
operating costs and AISC, and budgets on a consolidated and mine by
mine basis; the impact of the COVID-19 pandemic on B2Gold's
operations, including any restrictions or suspensions with respect
to our operations and the effect of any such restrictions or
suspensions on our financial and operational results; the ability
of the Company to successfully maintain our operations if they are
temporarily suspended, and to restart or ramp-up these operations
efficiently and economically, the impact of COVID-19 on the
Company's workforce, suppliers and other essential resources and
what effect those impacts, if they occur, would have on our
business, our planned capital and exploration expenditures; future
or estimated mine life, metal price assumptions, ore grades or
sources, gold recovery rates, stripping ratios, throughput, ore
processing; statements regarding anticipated exploration, drilling,
development, construction, permitting and other activities or
achievements of B2Gold; and including, without limitation: B2Gold
generating operating cashflows of approximately $630 million in 2021; remaining well positioned
for continued strong operational and financial performance for
2021; projected gold production, cash operating costs and AISC on a
consolidated and mine by mine basis in 2021, including production
being weighted heavily to the second half of 2021; total
consolidated gold production of between 970,000 and 1,030,000
ounces in 2021 with cash operating costs of between $500 and $540 per
ounce and AISC of between $870 and
$910 per ounce; the Fekola mill being
expected to run at an annualized throughput rate of 8.0 Mtpa; the
anticipated cost, timing and results for the addition of a solar
plant to the Fekola Mine, including the completion of construction
by the end of the third quarter of 2021, contingent on receiving
replacements for the damaged components the Cardinal zone bulk
sampling expected to begin in the second quarter of 2021 and being
added to the Fekola environmental and mining permits; the
development of the Wolfshag underground mine at Otjikoto, including
the results of such development and the costs and timing thereof;
stope ore production at the Wolfshag underground mine at Otjikoto
commencing in early 2022; the potential payment of future
dividends, including the timing and amount of any such dividends,
and the expectation that quarterly dividends will be maintained at
the same level; the availability of the RCF for future drawdowns;
and B2Gold's attributable share at El Limon and La Libertad. 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 associated with or related to: the
duration and extent of the COVID-19 pandemic, the effectiveness of
preventative measures and contingency plans put in place by the
Company to respond to the COVID-19 pandemic, including, but not
limited to, social distancing, a non-essential travel ban, business
continuity plans, and efforts to mitigate supply chain disruptions;
escalation of travel restrictions on people or products and
reductions in the ability of the Company to transport and refine
doré; the volatility of metal prices and B2Gold's common shares;
changes in tax laws; the dangers inherent in exploration,
development and mining activities; the uncertainty of reserve and
resource estimates; not achieving production, cost or other
estimates; actual production, development plans and costs differing
materially from the estimates in B2Gold's feasibility and other
studies; the ability to obtain and maintain any necessary permits,
consents or authorizations required for mining activities;
environmental regulations or hazards and compliance with complex
regulations associated with mining activities; climate change and
climate change regulations; the ability to replace mineral reserves
and identify acquisition opportunities; the unknown liabilities of
companies acquired by B2Gold; the ability to successfully integrate
new acquisitions; fluctuations in exchange rates; the availability
of financing; financing and debt activities, including potential
restrictions imposed on B2Gold's operations as a result thereof and
the ability to generate sufficient cash flows; operations in
foreign and developing countries and the compliance with foreign
laws, including those associated with operations in Mali, Namibia, the
Philippines, Colombia and
Burkina Faso and including risks
related to changes in foreign laws and changing policies related to
mining and local ownership requirements or resource nationalization
generally, including in response to the COVID-19 outbreak; 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, including local instability or acts of terrorism and
the effects thereof; the reliance upon contractors, third parties
and joint venture partners; the lack of sole decision-making
authority related to Filminera Resources Corporation, which owns
the Masbate Project; challenges to title or surface rights; the
dependence on key personnel and the 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; community support for
B2Gold's operations, including risks related to strikes and the
halting of such operations from time to time; conflicts with small
scale miners; failures of information systems or information
security threats; the ability to maintain adequate internal
controls over financial reporting as required by law, including
Section 404 of the Sarbanes-Oxley Act; compliance with
anti-corruption laws, and sanctions or other similar measures;
social media and B2Gold's reputation; risks affecting Calibre
having an impact on the value of the Company's investment in
Calibre, and potential dilution of our equity interest in Calibre;
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, B2Gold's current Form 40-F Annual Report 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 B2Gold's forward-looking statements
B2Gold'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 B2Gold's
ability to carry on current and future operations, including: the
duration and effects of COVID-19 on our operations and workforce;
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; B2Gold's ability to meet or achieve estimates,
projections and forecasts; the availability and cost of inputs; the
price and market for outputs, including gold; foreign exchange
rates; taxation levels; 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.
B2Gold's forward-looking statements are based on the opinions
and estimates of management and reflect their current expectations
regarding future events and operating performance and speak only as
of the date hereof. B2Gold 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. There can be no assurance that
forward-looking 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. For the reasons set forth above, undue
reliance should not be placed on forward-looking
statements.
Non-IFRS Measures
This news release includes certain terms or performance
measures commonly used in the mining industry that are not defined
under International Financial Reporting Standards ("IFRS"),
including "cash operating costs" and "all-in sustaining costs" (or
"AISC"). Non-IFRS measures do not have any standardized meaning
prescribed under IFRS, and therefore they may not be comparable to
similar measures employed by other companies. The data presented is
intended to provide additional information and should not be
considered in isolation or as a substitute for measures of
performance prepared in accordance with IFRS and should be read in
conjunction with B2Gold's consolidated financial statements.
Readers should refer to B2Gold's Management Discussion and
Analysis, available on the Websites, under the heading "Non-IFRS
Measures" for a more detailed discussion of how B2Gold calculates
certain of such measures and a reconciliation of certain measures
to IFRS terms.
View original
content:http://www.prnewswire.com/news-releases/b2gold-corp-reports-continued-strong-gold-production-for-q1-2021-quarterly-total-gold-production-of-220-644-oz-9-above-budget-on-track-to-meet-annual-guidance-of-970-000-to-1-030-000-oz-of-total-gold-production-301270271.html
SOURCE B2Gold Corp.