The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Joshua Mark Wolfson - RBC Capital Markets, Research Division - Analyst
: First question is on Cardinal. Earlier in the year when the opportunity was discussed, there was some guidance about grade for the initial feed being
about 3 grams. I know the resource when that was issued, was lower. But the initial stockpile that's been built up is also kind of more along that
overall resource grade of about 1.5 grams. What was sort of the difference between the initial guidance and what the stockpile looks like now?
Question: Joshua Mark Wolfson - RBC Capital Markets, Research Division - Analyst
: Yes, for the grade. Yes. So the grade, I think, initially, I know the overall Cardinal feed was -- or the resource is about 1.5. But I think there was some
guidance earlier this year that it was going to be significantly higher initially, unless I'm mistaken, and the grade is 1.5 today. Was there a variance
versus expectations there? Or...
Question: Joshua Mark Wolfson - RBC Capital Markets, Research Division - Analyst
: Okay. And as it relates to looking at the overall split in terms of processing, the guidance for 9 million tonnes of feed going forward is pretty similar
to what the asset is doing now. Should we assume a similar kind of split between the sulphides and the oxides that the assets processing today is
kind of continuing going forward?
Question: Joshua Mark Wolfson - RBC Capital Markets, Research Division - Analyst
: All right. And then maybe final question as it relates to Gramalote, with a bit of work that's sort of been done since the last update, is there any kind
of additional insight into the -- I guess, the extent of the changes and what the permitting modifications that would be required for that would
be? Or is it still a work in progress?
Question: Don DeMarco - National Bank Financial, Inc., Research Division - Analyst
: Congratulations on a strong free cash flow quarter. Many of my questions have been answered, but maybe I'll ask one on ESG. I think I heard Mike
say that the Fekola cash costs have been reduced by about 3% from the solar plant. And I'm hearing across the board, the electricity and fuel are
drivers of inflation. Is the cost to generate solar power at Fekola subject to less inflationary pressures than the cost to generate genset generated
power? And secondly, company-wide, what are some of your next ESG initiatives?
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NOVEMBER 03, 2021 / 5:00PM, BTO.TO - Q3 2021 B2Gold Corp Earnings Call
Question: Don DeMarco - National Bank Financial, Inc., Research Division - Analyst
: Yes. And do you have any plans to maybe expand that solar facility at Fekola or build other ones at other -- at your other mines?
Question: Don DeMarco - National Bank Financial, Inc., Research Division - Analyst
: Okay. And my final question, and this is an extension of a question asked by a previous caller. And it goes back to Clive in your preamble, you
mentioned you'd consider accretive M&A opportunities. Did you mean accretive in terms of production? I mean that is would be to consider an
operating asset if justified? Or is your focus on M&A still primarily on development projects?
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