VANCOUVER, BC, December 9, 2021 /CNW/ - B2Gold Corp. (TSX:
BTO) (NYSE AMERICAN: BTG) (NSX: B2G) ("B2Gold" or the
"Company") is pleased to announce that it has reached an
agreement in principle with the State of
Mali in connection with the issuance of the Menankoto
exploration permit (the "Menankoto Permit"). The Government
of Mali has recently announced
that it will grant a new exploration permit covering the same
perimeter as the Menankoto Permit to a new Malian subsidiary of
B2Gold. In consideration of this issuance of a new permit, B2Gold
has undertaken to withdraw the arbitration proceedings that its
Malian subsidiary, Menankoto SARL ("Menankoto"), commenced
in June 2021 against the Republic of
Mali under the Convention on the
Settlement of Investment Disputes Between States and Nationals of
Other States.
Based on the Government of Mali's recent announcement and related
discussions, B2Gold expects that the new Menankoto Permit will be
issued to its new Malian subsidiary prior to the end of 2021 in
compliance with the procedures and requirements set out under the
Malian 2019 Mining Code (previous permit had been issued under the
Malian 2012 Mining Code), which provides for an initial term
of three years and renewable for 2 additional three year periods.
The Company and the State of Mali
are both pleased with this outcome and the process to reach this
agreement, which was conducted in a fair and transparent manner and
restores the Company's interest in the Menankoto Permit that it
believes Menankoto was entitled to under its original extension
application.
The operations at the Fekola Mine, which is situated on a
separate mining licence 20 kilometres from the Menankoto Permit and
is projected to produce 560,000 to 570,000 ounces of gold in 2021,
have continued normally and were not impacted by the dispute
relating to the Menankoto Permit. In addition, the Fekola Mine has
not included the Mineral Resources from the Anaconda area
(comprised of the Menankoto Permit and the Bantako North permit) in
the current Fekola life of mine plan. The Bantako North permit area
(wholly owned with B2Gold's 10% Malian partner and which permit was
recently renewed for an additional 3-year term) contains a
significant portion of the Mamba deposit saprolite material and
remains open. Preliminary planning by the Company has demonstrated
that a pit situated on the Bantako North permit area could provide
saprolite material for at least 1.5 to 2 years to feed the Fekola
mill commencing in the second half of 2022 subject to obtaining all
necessary permits and completion of a final mine plan. This
additional feed from the Anaconda area to the Fekola Mine has the
potential to provide immediate value to the State of Mali, B2Gold's 20% partner at the
Fekola Mine, and communities near the project, and creating
significant long-term benefits for the Government of Mali as well as value generation for the
communities located both near the Menankoto deposit, regionally and
nationally.
The Malian authorities have also recently reviewed and approved
an update to the Environmental and Social Impact Assessment for the
Fekola Mine required to include the Cardinal zone, located within
500 metres of the current Fekola resource pit. The Company is in
the process of updating the Fekola Mine Plan to include production
from Cardinal, which has the potential to add an average of
approximately 60,000 ounces per year over the next 6 to 8 years
(based on Cardinal's inferred resource only) to Fekola's annual
gold production. Grade control drilling at Cardinal is ongoing to
upgrade a portion of the Mineral Resource estimate to the Indicated
category for 2022 production budget purposes.
Since the Company commenced its investment in Mali, B2Gold has enjoyed a positive and
mutually beneficial relationship with the Government of
Mali. Most recently, B2Gold
partnered with the Government of Mali to assist the people of Mali facing challenges created by the COVID-19
pandemic, as well as its impact on the mining sector. B2Gold
continues to explore additional ways in which it might help the
Government deal with the impact of the pandemic.
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, Colombia, Finland and Uzbekistan. B2Gold forecasts total
consolidated gold production of between 1,015,000 and 1,050,000
ounces in 2021.
On Behalf of B2GOLD CORP.
"Clive T. Johnson"
President & 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 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, and including, without
limitation: total consolidated gold production of between 1,015,000
and 1,050,000 ounces in 2021;and the receipt of the new Menankoto
permit by B2Gold's Malian subsidiary by the end of 2021. 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 Philippine and Colombia 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.
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SOURCE B2Gold Corp.