Projects

Nicaragua

This page is currently being updated. For the most recent company information: 

  • Click here for B2Gold's Q2 2020 Management Discussion & Analysis ("MD&A") (dated June 30, 2020)
  • Click here for B2Gold's Q2 2019 MD&A (dated June 30, 2019)
  • Click here for B2Gold's Q2 2020 Financial Statements (dated June 30, 2020)
  • Click here for B2Gold's Q2 2019 Financial Statements (dated June 30, 2019)

B2Gold and Calibre Mining Join Forces in Nicaragua:

On October 15, 2019, B2Gold completed the sale of the producing El Limon and La Libertad gold mines, the Pavon gold project and additional mineral concessions in Nicaragua (collectively, the "Nicaraguan Assets") to Calibre for aggregate consideration of $100 million (consisting of a combination of cash, common shares and a convertible debenture) (the “Calibre Transaction”), subject to an additional final payment for closing working capital of $18 million. As a result of closing the Calibre Transaction and the Calibre common shares subsequently issued to B2Gold upon the conversion of the convertible debenture in November 2019, the Company now holds approximately 34% of the total issued and outstanding Calibre common shares. B2Gold’s ongoing commitment to continuing involvement with the Nicaraguan operations is secured by its significant equity interest in Calibre, its right to appoint one director to the Board of Calibre and its participation in an Advisory Board of Calibre.

The comparative results for the first quarter of 2019 have been reclassified to account for the Nicaraguan Assets as discontinued operations in accordance with IFRS 5, Non-current assets held for sale and discontinued operations. The results of the Nicaraguan Assets have been presented as discontinued operations for all periods in the Condensed Interim Consolidated Statement of Operations and the Condensed Interim Consolidated Statements of Cash Flows. Commencing October 15, 2019, the Company no longer consolidates the results of the Nicaraguan Assets in its consolidated financial statements, but uses the equity method to account for its 34% ownership interest in Calibre. In addition, commencing October 15, 2019, B2Gold reports its attributable share of Calibre's production, cash costs and all-in sustaining costs in the Company's consolidated Non-IFRS measures.

For further information, click here for B2Gold's Q1 2020 Management Discussion & Analysis

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