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B2Gold Divests Calibre Mining Stake, Raising C$139 Million

B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G), a prominent gold producer headquartered in Vancouver, has successfully completed the sale of 79,000,000 common shares of Calibre Mining Corp., generating gross proceeds of C$139.04 million. This divestment has substantially reduced B2Gold’s ownership interest in Calibre to below 10%, marking its withdrawal from the status of a reporting insider.

Prior to this transaction, B2Gold held approximately 14.1% of Calibre’s common shares. As a result of lowering its stake, B2Gold will no longer be required to file insider or early warning reports related to its holdings in Calibre, except as required by regulatory obligations.

The decision to sell the shares was driven by several strategic factors, including evaluating current market conditions, the share price of Calibre, and B2Gold’s overarching capital allocation priorities and corporate strategy. Despite the reduction in its ownership position, B2Gold maintains a supportive stance toward Calibre and has indicated no immediate plans for further divestment.

Established in 2007, B2Gold is renowned globally for its efficient and cost-effective gold production operations. The company operates mines across Mali, Namibia, and the Philippines, with ongoing development projects such as the Goose Project in Canada and exploration activities spanning Mali, Colombia, and Finland.

The sale of Calibre shares underscores B2Gold’s proactive management of its investment portfolio, enhancing its financial flexibility and strategic focus. B2Gold will file an early warning report detailing the transaction, which will be accessible on SEDAR under Calibre’s profile.

This development reflects B2Gold’s commitment to optimizing its asset base and maintaining robust financial health. Analysts anticipate profitability for B2Gold in the current fiscal year, supported by its prudent capital management and strategic initiatives like the Calibre share sale.

InvestingPro Insights In light of B2Gold’s strategic divestment from Calibre Mining Corp., InvestingPro offers valuable insights into the company’s financial outlook and investment potential. With a solid balance sheet characterized by more cash than debt, B2Gold demonstrates strong financial resilience and capability to navigate market challenges effectively. Analysts highlight a positive earnings outlook for the company, supported by its streamlined operations and strategic portfolio adjustments.

InvestingPro Data reveals B2Gold’s substantial market capitalization of $3.46 billion, reinforcing its stature as a leading player in the gold mining sector. While the current P/E ratio stands at -94.64, the adjusted P/E ratio for the last twelve months as of Q1 2024 is a more favorable 5.62, indicative of improved earnings prospects. Moreover, B2Gold offers an attractive dividend yield of 6.21%, appealing to income-oriented investors seeking reliable returns.

For comprehensive analysis and real-time updates on B2Gold’s performance and market dynamics, investors can access InvestingPro’s dedicated resources and expert insights. Visit InvestingPro and explore the latest tips and data on B2Gold to make informed investment decisions tailored to your financial goals. Take advantage of our special offer using the coupon code PRONEWS24 for an additional 10% discount on annual or biennial Pro and Pro+ subscriptions, unlocking exclusive insights and strategies for maximizing investment returns with B2Gold.

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