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
: When looking at the upside from the various sources of Fekola, the prior guidance was that Anaconda could add 80,000 to 100,000 ounces and
then Cardinal could add 60,000 ounces. I guess I'm just wondering what that baseline is. And then if we think about what the net result is from
those additions, can that sustain the mine at 600,000 ounces. And I guess, for how long?
Question: Joshua Mark Wolfson - RBC Capital Markets, Research Division - Analyst
: Okay. So I guess, in other words, what point would you start to see some pressure materialize from maybe the grade profile? Is that after a year 3,
4, 5? Just wondering how much visibility we have today.
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FEBRUARY 23, 2022 / 6:00PM, BTO.TO - Q4 2021 B2Gold Corp Earnings Call
Question: Joshua Mark Wolfson - RBC Capital Markets, Research Division - Analyst
: Okay. Stay tuned. And moving over to Gramalote for a second. We've seen commentary from some of your peers about inflation for capital running
at a rate at least year-over-year consistent, I guess, in the 10% to 20% range, most of them are towards the upper end of that. Ignoring the potential
impact from the optimization, is there any sort of reason we should not apply the same sort of thinking to what the base case would be for Gramalote.
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FEBRUARY 23, 2022 / 6:00PM, BTO.TO - Q4 2021 B2Gold Corp Earnings Call
Question: Don DeMarco - National Bank Financial, Inc., Research Division - Analyst
: First question for Mike. Mike, what is the quarterly weighting of the $299 million in cash taxes? I mean is it just simply like similar to last year, like
heavier in H1?
Question: Don DeMarco - National Bank Financial, Inc., Research Division - Analyst
: Okay.
Question: Don DeMarco - National Bank Financial, Inc., Research Division - Analyst
: Okay. Good. So you guys have had a couple of years now where production costs are back-end loaded. Would you expect recurring back-end
loaded years going forward.
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FEBRUARY 23, 2022 / 6:00PM, BTO.TO - Q4 2021 B2Gold Corp Earnings Call
Question: Don DeMarco - National Bank Financial, Inc., Research Division - Analyst
: After '22.
Question: Don DeMarco - National Bank Financial, Inc., Research Division - Analyst
: Okay. I figured that might be the case. Now just shifting over to Fekola. We see that you're forecasting potential Cardinal production of about
60,000 ounces over the next 6 to 8 years. Even if you hit 60,000 over 8 years, I mean, that's total production less than 500,000 ounces versus a total
resource of 1.2 million. Can you comment on that differential?
It seems to me a face value that there is some upside at Cardinal beyond what this preliminary forecast is.
Question: Don DeMarco - National Bank Financial, Inc., Research Division - Analyst
: Okay. And just finally, for 2021, which is the Fekola throughput around 7.75 million, you hit 9.14 million 2022 were nice to see 9 million, but does
that all things equal -- are you aiming for higher than 9 million.
Question: Don DeMarco - National Bank Financial, Inc., Research Division - Analyst
: And congratulations again on a strong finish to the year.
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