Briefing
The study assumes a mill with an annual processing rate of 6.0 million tonnes per annum, an initial open pit mine life of 11 years, and a processing life of 13 years. Key points: The study assumes a mill with an annual processing rate of 6.0 million tonnes per annum, an initial open pit mine life of 11 years, and a processing life of 13 years; Financial results include all-in sustaining costs of $985 per ounce over the life of the project, with an after-tax net present value of $941 million and an internal rate of return of 22.4% assuming a $2,500 per ounce go; A long-term gold price assumption of $3,300 per ounce results in an after-tax net present value of $1,716 million and an internal rate of return of 33.5%; B2Gold reiterates its previously disclosed estimate that the Goose Mine crushing circuit will be able to operate at an average daily capacity of approximately 3,200 tonnes per day by the end of the third quarter of 2026,; The study shows average annual grade processed over the first five years of 1.23 g/t, with a life of mine grade of 0.96 g/t and average annual gold production over the first five years of 227,000 ounces of gold per year,; Consolidated all-in sustaining costs for the first quarter of 2026 were better than expected as a result of lower than anticipated production costs, higher than planned gold ounces sold, and lower than expected sustainin. This brief is based on the cited source artifact and is intended as a research entry point, not a replacement for the original source or EGM canonical data tables.
Source Notes
The study assumes a mill with an annual processing rate of 6.0 million tonnes per annum, an initial open pit mine life...
Extractive summary evidence · source
Financial results include all-in sustaining costs of $985 per ounce over the life of the project, with an after-tax net present value...
Extractive summary evidence 2 · source
A long-term gold price assumption of $3,300 per ounce results in an after-tax net present value of $1,716 million and an internal...
Extractive summary evidence 3 · source
B2Gold reiterates its previously disclosed estimate that the Goose Mine crushing circuit will be able to operate at an average daily capacity...
Extractive summary evidence 4 · source
Extracted Document Text
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# default Source: https://www.b2gold.com/news-media/news-releases/news-details/2026/B2Gold-Reports-Q1-2026-Results/default.aspx Published: 2026-05-06T00:00:00+00:00 Fetched: 2026-05-29T12:25:46.718+00:00 Source artifact: 30979f3f-01de-4a5d-afc8-4ae1687478a2 Normalizer input: text ## Content # default Overview About Us About Us Board of Directors Executive Management Corporate Governance Operations & Projects Overview Reserves and Resources Producing 1 ">Fekola Mine - Mali 1 - The Philippines">Masbate Gold Project - The Philippines 1 ">Otjikoto Mine - Namibia Goose Mine - Canada Development Back River - Canada Gramalote Project - Colombia Exploration Other Exploration Sustainability Our Approach ESG Reporting Our Economic Contribution Environmental Responsibility Our People Our Communities Namibian Rhino Gold Bar More Than Mining Fund External Recognition Investors Why Invest Investor Presentation Fact Sheet Stock Information Dividend Reinvestment Plan Financials Events Shareholder Information Analyst Coverage AGM News & Media News Releases Our Stories Photo Gallery Video Gallery Careers Careers Contact Contact Us Subscribe View all news B2Gold Reports Q1 2026 Results May 6, 2026 Download (opens in new window) PDF Strong operating performance across all operations led to higher than expected gold production, lower than expected costs, and robust free cash flow in the first quarter of 2026 VANCOUVER, British Columbia, May 06, 2026 (GLOBE NEWSWIRE) -- B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) (“B2Gold” or the “Company”) is pleased to announce its operational and financial results for the first quarter of 2026. All dollar figures are in United States dollars unless otherwise indicated. 2026 First Quarter Highlights Gold production of 237,763 ounces : Total gold production in the first quarter of 2026 was 237,763 ounces. All operations exceeded expected production in the first quarter. Consolidated cash operating costs of $1,005 per gold ounce produced : Consolidated cash operating costs (see “ Non-IFRS Measures ”) were $1,005 per gold ounce produced ($846 per gold ounce sold) during the first quarter of 2026. Cash operating costs per ounce produced for the first quarter of 2026 were better than expected mainly as a result of higher than expected gold production. Consolidated all-in sustaining costs of $1,964 per gold ounce sold : Consolidated all-in sustaining costs (see “ Non-IFRS Measures ”) were $1,964 per gold ounce sold during the first quarter of 2026. Consolidated all-in sustaining costs for the first quarter of 2026 were better than expected as a result of lower than anticipated production costs, higher than planned gold ounces sold, and lower than expected sustaining capital expenditures. Attributable net income of $0.15 per share; adjusted attributable net income of $0.19 per share : Net income attributable to the shareholders of the Company of $200 million, or $0.15 per share; adjusted net income (see “ Non-IFRS Measures ”) attributable to the shareholders of the Company of $260 million, or $0.19 per share. Operating cash flow before working capital adjustments of $386 million and free cash flow of $362 million: Cash flow provided by operating activities before working capital adjustments of $386 million, and free cash flow (see “ Non-IFRS Measures ”) of $362 million in the first quarter of 2026. Strong financial position and liquidity : At March 31, 2026, the Company had cash and cash equivalents of $479 million and working capital (defined as current assets less assets classified as held for sale and current liabilities) of $171 million. During the first quarter of 2026, the Company repaid a net $75 million on the Company's $800 million revolving credit facility (“RCF”). Subsequent to quarter end, on April 24, 2026, the Company repaid the full outstanding $75 million balance on the RCF, leaving the full $800 million available for future draw downs. Leadership transition: On February 23, 2026, the Company announced that, as part of the Company's leadership succession planning, Mr. Clive Johnson has decided to retire from his role as President, Chief Executive Officer (“CEO”) and Director of the Company effective June 4, 2026. The Board of Directors named Mike Cinnamond, Senior Vice President, Finance and Chief Financial Officer of B2Gold, to succeed Mr. Johnson as President and CEO and replace Mr. Johnson on the Board of Directors. In recognition and appreciation of his unique and important role as a founder and his invaluable contributions to the Company, Mr. Johnson will be named Chair Emeritus of B2Gold. Repurchased $80 million of shares under the Company's normal course issuer bid (“NCIB”): During the first quarter of 2026, the Company repurchased 16 million shares for $80 million under the prior NCIB. Subsequent to quarter end, the Company repurchased and cancelled an additional 4 million shares for $18 million. Renewed the Company's NCIB for 10% of the public float: On April 1, 2026, the Toronto Stock Exchange accepted the notice of B2Gold's intention to renew its NCIB. The renewed NCIB commenced on April 3, 2026 and will expire no later than April 2, 2027. The renewed TSX approval allows the Company to purchase up to 132,662,594 common shares of B2Gold representing 10% of the public float as of March 20, 2026. Sold 70% interest in Fingold Ventures Ltd. (“Fingold”) to Agnico Eagle Mines Ltd. (“Agnico Eagle”) for $325 million: On April 23, 2026, B2Gold announced that it had closed the sale of its 70% interest in Fingold to Agnico Eagle for cash consideration of $325 million. Agreed to Nunavut collaboration agreement with Agnico Eagle: On April 20, 2026, the Company announced that B2Gold and Agnico Eagle agreed to enter into a collaboration agreement focused on knowledge sharing and cooperation across their respective operations in Nunavut, Canada (the “Nunavut Collaboration Agreement”). The agreement is intended to leverage the complementary experience, best practices and expertise of both companies operating in northern arctic environments. The agreement will not involve any transfer of ownership interests or integration of activities and is non-exclusive in nature. Q2 2026 dividend of $0.02 per share declared : On May 6, 2026, B2Gold's Board of Directors declared a cash dividend for the second quarter of 2026 of $0.02 per common share (or an expected $0.08 per share on an annualized basis), payable on June 23, 2026, to shareholders of record as of June 10, 2026. First Quarter 2026 Results Three months ended March 31, 2026 2025 Gold revenue ($ in thousands) 1,158,655 532,107 Net income ($ in thousands) 205,550 62,564 Earnings per share – basic (1) ($/ share) 0.15 0.04 Earnings per share – diluted (1) ($/ share) 0.14 0.04 Cash provided by operating activities ($ thousands) 539,481 178,788 Average realized gold price ($/ ounce) 4,193 2,892 Adjusted net income (1)(2) ($ in thousands) 259,877 121,850 Adjusted earnings per share (1)(2) – basic ($) 0.19 0.09 Free cash flow (2) ($ in thousands) 361,800 (6,925) Consolidated operations results: Gold sold (ounces) 276,346 183,998 Gold produced (ounces) 237,763 192,752 Production costs ($ in thousands) 233,838 161,994 Cash operating costs (2) ($/ gold ounce sold) 846 880 Cash operating costs (2) ($/ gold ounce produced) 1,005 832 Total cash costs (2) ($/ gold ounce sold) 1,403 1,113 All-in sustaining costs (2) ($/ gold ounce sold) 1,964 1,533 (1) Attributable to the shareholders of the Company. (2) Non-IFRS measure. For a description of how these measures are calculated and a reconciliation of these measures to the most directly comparable measures specified, defined or determined under IFRS and presented in the Company’s financial statements, refer to “Non-IFRS Measures”. Liquidity and Capital Resources B2Gold continues to maintain a strong financial position and liquidity. At March 31, 2026, the Company had cash and cash equivalents of $479 million (December 31, 2025 - $380 million) and working capital (defined as current assets less assets classified as held for sale and current liabilities) of $171 million (December 31, 2025 - $68 million). During the first quarter of 2026, the Company repaid a net $75 million on the Company's $800 million RCF, leaving $725 million remaining available for future draw downs. Subsequent to March 31, 2026, on April 24, 2026, the Company repaid the full outstanding $75 million balance on the RCF. Second Quarter 2026 Dividend On May 6, 2026, B2Gold’s Board of Directors declared a cash dividend for the second quarter of 2026 (the “Q2 2026 Dividend”) of $0.02 per common share (or an expected $0.08 per share on an annualized basis), payable on June 23, 2026, to shareholders of record as of June 10, 2026. The Company currently has a Dividend Reinvestment Plan (“DRIP”). For the purposes of the Q2 2026 Dividend, the Company has determined that no discount will be applied to calculate the Average Market Price (as defined in the DRIP) of its common shares issued from treasury. Beneficial shareholders who wish to participate in the DRIP should contact their financial advisor, broker, investment dealer, bank, financial institution, or other intermediary through which they hold common shares for instructions on how to enroll in the DRIP. This dividend is designated as an “eligible dividend” for the purposes of the Income Tax Act (Canada). Dividends paid by B2Gold to shareholders outside Canada (non-resident investors) will be subject to Canadian non-resident withholding taxes. The declaration and payment of future dividends and the amount of any such dividends will be subject to the determination of the Board, in its sole and absolute discretion, taking into account, among other things, economic conditions, business performance, financial condition, growth plans, expected capital requirements, compliance with B2Gold's constating documents, all applicable laws, including the rules and policies of any applicable stock exchange, as well as any contractual restrictions on such dividends, including any agreements entered into with lenders to the Company, and any other factors that the Board deems appropriate at the relevant time. There can be no assurance that any dividends will be paid at the intended rate or at all in the future. For more information regarding the DRIP and enrollment in the DRIP, please refer to the Company's website at https://www.b2gold.com/investors/stock_info/ . This news release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction nor will there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such province, state or jurisdiction. The Company has filed a registration statement relating to the DRIP with the U.S. Securities and Exchange Commission that may be obtained under the Company's profile on the U.S. Securities and Exchange Commission's website at http://www.sec.gov/EDGAR or by contacting the Company using the contact information at the end of this news release. Operations Fekola Complex - Mali Three months ended March 31, 2026 2025 Gold revenue ($ in thousands) 734,850 254,667 Gold sold (ounces) 152,356 87,808 Average realized gold price ($/ ounce) 4,823 2,900 Tonnes of ore milled 2,546,948 2,446,671 Grade (grams/ tonne) 1.56 1.31 Recovery (%) 91.7 91.5 Gold production (ounces) 117,450 93,805 Production costs ($ in thousands) 111,003 89,025 Cash operating costs (1) ($/ gold ounce sold) 729 1,014 Cash operating costs (1) ($/ gold ounce produced) 950 965 Total cash costs (1) ($/ gold ounce sold) 1,590 1,350 All-in sustaining costs (1) ( [Excerpt trimmed for readability. Open the original source for the complete filing or document.]