B2Gold Corp (LTS:0QYN)

C$ 3.77 -0.015 (-0.4%) Market Cap: 4.90 Bil Enterprise Value: 4.83 Bil PE Ratio: 0 PB Ratio: 1.19 GF Score: 78/100

Q3 2024 B2Gold Corp Earnings Call Transcript

Nov 07, 2024 / 04:00PM GMT

Release Date Price: C$4.23 (-2.31%)

Transcript

Key Points

Positve

B2Gold Corp (BTG) reported strong financial results for Q3 2024, with operating cash flow before working capital adjustments at $118 million.
The company completed a significant Memorandum of Understanding (MOU) with the state of Mali, allowing for future economic and governance parameters of the Fekola complex.
Masbate and Otjikoto mines continue to meet or exceed budget expectations, contributing positively to the company's overall performance.
The Goose project construction is on track to deliver first gold production in Q2 2025, with significant progress made in the third quarter.
B2Gold Corp (BTG) maintains a strong financial position with $431 million in cash and cash equivalents and substantial credit facility capacity.

Negative

Fekola mine experienced a weaker quarter due to a delay in receiving a replacement excavator, impacting production.
The company's adjusted earnings were negatively impacted by a one-time $30 million tax accrual related to the MOU with the state of Mali.
Basic earnings per share were affected by a non-cash write-down of the Back River Gold District due to capital cost increases.
The company expects to come in at the low end of its revised production guidance range and at the upper end of its cash cost and all-in sustaining cost guidance.
There are outstanding payments related to the Mali operations, including a significant dividend payment expected by the end of the year.

Operator

Thank you for standing by. This is the conference operator, and welcome to B2Gold Corporation's third-quarter 2024 financial results conference call. (Operator Instructions) Conference is being recorded. (Operator Instructions)

I would now like to turn the conference over to Clive Johnson, President and CEO of B2Gold. Please go ahead.

Clive Johnson

B2Gold Corp - President, Chief Executive Officer, Director

Thank you, operator. Welcome to the call. We're here in Vancouver with the B2Gold executive team. And I'm going to pass it over to Mike Cinnamond to talk about the financial results for the third quarter, and then Bill Lytle is going to give us an update on Mali operations and also the Goose project construction progress. So over to you, Mike.

Michael Cinnamond

B2Gold Corp - Chief Financial Officer, Senior Vice President - Finance

Thanks, Clive. On the operating side, I think it's a similar story to what we saw for the first 2 quarters of the year, with Masbate and Otjikoto results continue to meet or

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