Research analysts who have asked questions during B2GOLD earnings calls.
OH
Ovais Habib
Scotiabank
3 questions for BTG
Also covers: AGI, PAAS, SSRM
Anita Soni
CIBC Capital Markets
2 questions for BTG
Also covers: AEM, BTO, CCJ +9 more
Don DeMarco
National Bank Financial
2 questions for BTG
Also covers: AAUCF, AGI, ARMN +9 more
Francesco Costanzo
Scotiabank
2 questions for BTG
Also covers: EQX, PAAS
CM
Carey MacRury
Canaccord Genuity Group Inc.
1 question for BTG
Also covers: AAUCF, AGI, ARMN +5 more
RP
Ralph Profiti
8 Capital
1 question for BTG
Also covers: AEM, CCJ, ERO +6 more
WL
Wayne Lam
TD Securities
1 question for BTG
Also covers: AG, CDE, EQX +4 more
Recent press releases and 8-K filings for BTG.
B2Gold Reports Record 2025 Annual Revenue and Issues 2026 Guidance
BTG
Earnings
Guidance Update
New Projects/Investments
- B2Gold Corp. reported record annual revenue of $3.06 billion for 2025, with net income attributable to shareholders of $0.30 per share and adjusted net income of $0.46 per share.
- For the full year 2025, the company achieved consolidated gold production of 979,604 ounces, with cash operating costs of $769 per gold ounce produced and all-in sustaining costs of $1,584 per gold ounce sold, meeting its production and cost guidance.
- B2Gold provided 2026 guidance, anticipating consolidated gold production between 820,000 and 970,000 ounces, with cash operating costs between $1,155 and $1,280 per gold ounce produced and all-in sustaining costs between $2,400 and $2,580 per gold ounce sold.
- The Goose Mine achieved commercial production on October 2, 2025 , and the company declared a Q1 2026 dividend of $0.02 per share.
Feb 18, 2026, 11:28 PM
B2Gold Reports Strong Q4 and Full-Year 2025 Financial Results
BTG
Earnings
Debt Issuance
Share Buyback
- B2Gold Corp. reported a significant financial turnaround in 2025, achieving net income of $427 million compared to a net loss of $627 million in 2024, driven by higher revenues.
- The company's gold revenue increased to $3,061 million in 2025 from $1,902 million in 2024, with gold sold rising to 927,797 ounces at an average realized gold price of $3,299 per ounce.
- As of December 31, 2025, B2Gold maintained a strong financial position with cash and cash equivalents of $380 million and $650 million remaining available on its $800 million revolving credit facility.
- Key strategic activities in 2025 included the issuance of $460 million in convertible senior unsecured notes and the repurchase of 2 million shares for $10 million under its normal course issuer bid.
Feb 18, 2026, 10:44 PM
B2Gold Corp. Updates Masbate Gold Project Technical Report
BTG
New Projects/Investments
Guidance Update
- B2Gold holds an indirect 40% interest in Filminera Resources Corporation and an indirect 100% interest in Phil. Gold Processing & Refining Corp. (PGPRC) for the Masbate Gold Project in the Philippines.
- As of September 30, 2025, the Masbate Gold Project has Indicated Mineral Resources of 149,767 thousand tonnes at 0.69 g/t Au (containing 3,308 thousand ounces of gold) and Inferred Mineral Resources of 51,704 thousand tonnes at 0.69 g/t Au (containing 1,148 thousand ounces of gold).
- The project's Probable Mineral Reserves are 66,590 thousand tonnes at 0.73 g/t Au, containing 1,560 thousand ounces of gold, effective September 30, 2025.
- Mining operations are projected to conclude in 2028, with stockpile processing extending until 2034, and a forecast Life of Mine (LOM) gold production of 1,187 thousand ounces.
Nov 7, 2025, 6:54 PM
B2Gold Reports Q3 2025 Results, Updates Goose Mine Guidance, and Declares Dividend
BTG
Earnings
Guidance Update
Dividends
- B2Gold reported Q3 2025 gold production of 254,369 ounces and adjusted attributable net income of $0.14 per share.
- Consolidated cash operating costs for Q3 2025 were $780 per gold ounce produced and all-in sustaining costs were $1,479 per gold ounce sold.
- The company declared a Q4 2025 dividend of $0.02 per common share, payable on December 15, 2025.
- 2025 gold production guidance for the Goose Mine was modified to between 50,000 to 80,000 ounces (from a previous range of 80,000 to 110,000 ounces) due to crushing plant issues and delays in accessing higher-grade ore.
- Post-commercial production cash operating costs for the Goose Mine in 2025 are now forecast between $2,300 and $2,360 per gold ounce produced, and all-in sustaining costs are forecast between $3,290 and $3,350 per ounce sold.
Nov 5, 2025, 11:33 PM
B2Gold Announces Q3 2025 Results, Goose Mine Commercial Production, and Positive Outlook
BTG
Earnings
Guidance Update
New Projects/Investments
- B2Gold reported net income of $23 million for Q3 2025, a significant improvement from a net loss of $(631) million in Q3 2024, with gold revenue increasing to $782.9 million from $448.2 million in the prior year period.
- For the first nine months of 2025, consolidated gold revenue reached $2,007 million on sales of 644,307 ounces, a 43% increase primarily due to a 36% rise in the average realized gold price.
- The company achieved commercial production at its Goose Mine on October 2, 2025, which is expected to contribute between 50,000 and 80,000 ounces of gold in 2025 and an average of approximately 300,000 ounces annually from 2026 to 2031.
- B2Gold maintains a strong financial position with $367 million in cash and cash equivalents as of September 30, 2025, and issued $460 million in convertible senior unsecured notes on January 28, 2025.
- Total gold production for 2025 is estimated to be between 890,000 and 965,000 ounces, with the Fekola underground mine now anticipated to contribute 30,000 to 40,000 ounces this year.
Nov 5, 2025, 10:42 PM
B2Gold confirms unimpeded operations and reiterates 2025 production guidance for Fekola Complex
BTG
Guidance Update
New Projects/Investments
- Operations at B2Gold's Fekola Complex in Mali continue uninterrupted, with all permits and licenses remaining in good standing with the State of Mali as of November 3, 2025.
- Milling and mining activities at the Fekola Mine are operating at full capacity.
- B2Gold reiterates its 2025 gold production guidance for the Fekola Complex, expecting 515,000 to 550,000 ounces.
- The issuance of the Fekola Regional exploitation permit is in the final stages of approval and is anticipated shortly.
Nov 3, 2025, 6:03 PM
B2Gold Reaffirms 2025 Fekola Gold Production Guidance Amid Uninterrupted Mali Operations
BTG
Guidance Update
New Projects/Investments
- B2Gold's Fekola Complex operations in Mali continue uninterrupted, with all permits and licenses remaining in good standing with the State of Mali.
- Milling and mining activities at the Fekola Mine are operating at full capacity.
- The company reiterates its 2025 gold production guidance for the Fekola Complex, projecting 515,000 to 550,000 ounces.
- The Fekola Regional exploitation permit is in the final stages of approval and is anticipated to be received shortly.
Nov 3, 2025, 5:00 PM
Barrick Mining Corp. Resumes Loulo-Gounkoto Gold Mine Operations
BTG
Legal Proceedings
Management Change
- Barrick Mining Corp. has resumed operations at its Loulo-Gounkoto gold mine in Mali after a nine-month shutdown caused by a dispute with Mali's military-led government.
- The dispute began in January 2025 when the government seized control, blocking exports and confiscating gold, over allegations of unpaid taxes and new mining legislation, which Barrick denies.
- The mine, a key asset that produced 723,000 ounces of gold in 2024, is now operating under the oversight of a provisional manager, Soumana Makadji, appointed in June 2025.
- This situation highlights increasing resource nationalism in West Africa, raising concerns among international investors about production stability and foreign investment risk in the region.
Oct 21, 2025, 5:51 PM
B2Gold Achieves Commercial Production at Goose Mine
BTG
Guidance Update
New Projects/Investments
- B2Gold Corp. announced that its Goose Mine achieved commercial production on October 2, 2025, based on achieving 66% of its 4,000 tonnes per day (tpd) design capacity over a 30-day period.
- The company expects the Goose mill to operate near its 4,000 tpd design capacity through the fourth quarter of 2025, with mill feed averaging between 6.5 and 7.0 grams per tonne gold and gold recoveries expected to average higher than 90%.
- The Goose Mine is projected to produce 80,000 to 110,000 ounces of gold in 2025, approximately 250,000 ounces in 2026, and about 330,000 ounces in 2027.
- B2Gold forecasts total consolidated gold production of between 970,000 and 1,075,000 ounces in 2025.
Oct 6, 2025, 5:29 PM
B2Gold Achieves Commercial Production at Goose Mine
BTG
New Projects/Investments
Guidance Update
- B2Gold Corp. announced that its Goose Mine achieved commercial production on October 2, 2025, after the mill maintained an average throughput of 66% of its 4,000 tonnes per day (tpd) design capacity for 30 consecutive days.
- Following the integration of a supplemental mobile crusher, the mill achieved an average throughput of 3,249 tpd, representing 81.2% of design capacity, from September 19 to October 2, 2025, and is expected to operate near its design capacity through the fourth quarter of 2025.
- The Goose Mine is projected to produce 80,000 to 110,000 ounces of gold in 2025, approximately 250,000 ounces in 2026, and approximately 330,000 ounces in 2027, with an average annual production of approximately 300,000 ounces for the initial six years (2026-2031).
- B2Gold forecasts total consolidated gold production of between 970,000 and 1,075,000 ounces in 2025.
Oct 6, 2025, 12:00 PM
Quarterly earnings call transcripts for B2GOLD.
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