BTG - B2Gold: Waiting For The Golden Egg

2024-05-09 22:35:19 ET

Summary

• B2Gold is a senior gold miner developing the Goose project in Nunavut.
• B2Gold has not participated in recent gold rally as investors are still fearful about development progress at Goose.
• The company recently announced a 3-month delay in Goose due to adverse weather and equipment availability. A cost update is expected in June.
• While disappointing, the large upside with Goose keeps me a buyer of B2Gold for now.

A few months ago, I wrote an initiating article on B2Gold Corp. ( BTG ), rating a speculative buy for those with a strong stomach for mine development risks. B2Gold is developing the large Goose mining project (I had formerly called it 'Back River' to be consistent with historical geography) which is expected to produce over 300,000 oz of gold per annum once it is complete. As with all mine developments, the major risks are cost overruns and time delays....

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