130,000 oz of Gold / year - Q4 2009

Exploration & production. Properties in Nicaragua, Colombia, Panama & Russia

Message: M Partners reveals its top seven stock picks for 2022

B2Gold Corp. (BTO-T -price target $11)


“We expect BTO to continue to post production beats, robust cashflow (15% FCF yield), and pay the highest dividend in the industry (~4%). BTO should end the year with a cash balance of US$650M+ and holds an undrawn US$600M credit facility.

“BTO is currently trading at 0.75x P/NAV compared to peers at 0.97x and 3.8x 2022E cashflow compared to peers at 5.8x.”

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