CA - B2Gold: Reserves Per Share Continue To Grow

2024-06-20 09:40:19 ET

Summary

• B2Gold Corp. reported a significant growth in reserves following its Sabina acquisition (Goose), and has continued its track record of reserve growth per share.
• Meanwhile, resources stand at nearly 30 million ounces of gold, backing up its solid reserve base that is nearing 10 million ounces of gold.
• In this update, we'll dig into its recent resource/reserve update and why it remains one of the best ways to add gold exposure sector-wide.

All figures are in United States Dollars unless otherwise noted. G/T refers to grams per tonne (of gold). All figures are on an attributable basis unless otherwise noted.

Total Reserves

B2Gold Corp. (BTG) released its year-end gold reserves earlier this year, reporting total reserves of ~8.2 million attributable ounces of gold at an average grade of ~1.82 G/T tonne of gold. This was an upgrade from the company's previous reserve base of ~4.63 million ounces of gold at ~1.3 G/T of gold. The significant increase in reserves and 40% increase in grades was related to the acquisition of the Goose Project in Nunavut, Canada, with the project boasting ~1.4 million ounces at 5.54 G/T of gold in the proven category and ~2.2 million ounces at 6.29 G/T of gold in the probable category, totaling ~18.7 million tonnes at 5.97 G/T of gold. As the chart below highlights, reserve grades at B2Gold's other assets remained relatively flat, except for Otjikoto where grades increased due to depletion of lower-grade open-pit reserves and a higher proportion of reserves made up of high-grade material at Wolfshag Underground....

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