VANCOUVER – B2Gold Corp. plans to distribute an at-the-market offering of US$100 million worth of common shares. The company has entered into an agreement with the American and Canadian subsidiaries of Canaccord Genuity and HSBC Securities. Newly issued shares are to be sold into the secondary trading market.
B2Gold plans to use the net proceeds to accelerate exploration at the Fekola gold development project in Mali as well as exploration and feasibility work at the Kiaka advanced exploration gold project in Burkina Faso.
The Fekola open pit and mill will begin production in late 2017 at a rate of 4 million t/y, although the mill will capacity for 5 million t/y. The project is expected to produce approximately 350,000 oz of gold per year.
The optimized Fekola feasibility study is posted at www.B2Gold.com/_resources/Fekola_Technical_Report_2015.pdf.
Since its founding in 2007, B2Gold has assembled a portfolio of four producing gold mines (El Limon and La Libertad in Nicaragua, Masbate in the Philippines, and Otjikoto in Namibia), one development project in (Fekola in Mali), advanced exploration projects (Kiaka in Burkina Faso, Gramalote in Colombia, and Borosi in Nicaragua), as well exploration projects in Finland, Chile, Namibia and the Philippines.