B2Gold Corp.

Thank you for standing by. This is the conference operator, and welcome to B2Gold Corporation's third quarter 2024 financial results conference call. As a reminder, all participants are in listen-only mode, and the conference is being recorded. After the presentation, there will be an opportunity for analysts to ask questions. To join the question queue, you may press star, then 1 on your telephone keypad. Should you need assistance during the conference call, you may signal an operator by pressing star, then 0. I would now like to turn the conference over to Clive Johnson, President and CEO of B2Gold. Please go ahead.

Thank you, Alfred. Welcome to the call. We're here in Vancouver with the B2Gold executive team. And I'm going to pass it over to Mike Cinnamon to talk about the financial results for the third quarter. And then Ben and I are just going to give us an update on my operations and also on the Goose Project Construction Congress. So, what would you like? Thanks, Clive.

To start on the operating side, I think it's a similar story to what we saw for the first two quarters of the year, misbatting Ojikodo. Results continued to meet or beat budget. But as we previously guided towards, Coca-Cola had a weak quarter as a result of the delay in receiving a replacement excavator after the existing one was damaged beyond repair in the first half of 24. As we look to 25, we expect to see significant production growth in Coca-Cola driven by better grades, be in mind that the FACOLA hit, combined with the contribution of truckloads from FACOLA regional, and the commencement of FACOLA underground production. When you put it all together, so the systems that I know Jakota, FACOLA is slightly behind, but where we stand with that overall for the year, we still think we're on track to come in now at the low end of our revised production guidance range, and with that lower production the upper end of our revised cash costs and all our sustaining cost guidance. Other significant events in order, we completed the MOU of the state of Manali on the future economic and governance parameters of the Fakola complex, including the Fakola mine and Fakola regional. And that's a significant event for B2 Gold. It lets us move forward and realize the value that we see and the upside we see in those projects. Financially, it's a strong quarter, adjusted for one-time items. The company generated two cents per share of adjusted earnings, benefiting from a very strong average gold sales price, and we continue to see gold do what it's doing. Those adjusted earnings were negatively impacted by a one-time 30 million tax accrual to record the charges related to the MOU with the state of Mali I just described, announced in September. If you remove that rule, the adjusted EPS would have been closer to $0.05 per share. Basic earnings per share was impacted by the non-cash write-down of the back road or goal district, mainly as a result of the two initial capital cost increases that we previously announced in 2024. But moving forward, as Bill will describe shortly, I would feel confident in the timeline We're working capital adjustments for the quarter with $118 million, which is a strong result given the challenges of the proposal during Q3. And spending in the Goose project, this is back and well versus the latest budget during the quarter, which we saw carry on into October as well. Construction of mine development activities, and with the Canadian $165 million during Q3, and the working capital buildup. came in and the material got to site. Working capital buildup was elevated predominantly as a result of the purchase of diesel that will be brought to site on the 2025 winter ice road. In balance sheet wise we continue to remain a strong financial position with cash and cash equivalents of $431 million at the end of the third quarter. During the quarter we did draw $200 million on our line and that leaves us with half a billion of additional credit facility capacity going forward as well as $100 million in the So we've got a good amount of financial flexibility to be able to complete the goose construction by Q2-25, complete the other sustaining and growth initiatives across the portfolio, and to continue to fund the healthy exploration programs and stand-by legs. And that's it.