Recent Buy – B2Gold

A quick update on recent activity in our portfolio.

This week’s drawdown allowed me to add to my position in B2Gold Corp (BTO.TO)(BTG). I hold both US and Canadian listed stocks in my portfolio, and in this instant, since I had more US$ available, I added to my US listed entity. I added 500 shares of B2Gold Corp (BTG) @ US$2.55.

B2Gold released it quarterly result on Jul 31 and the market punished the stock. The stock price went down another 10% or so after the results were released and I decided to pick up more shares. B2 is still one of the strongest mid-tier companies out there, and the Fekola project coming online in fall is expected to start cash flowing soon. The project is expected to yield about 50,000-55,000 oz of gold and will be ramping up in 2018. In addition, the Fekola project will be a low cost project bringing down the overall sustaining costs for B2Gold.

In addition, B2 now has a credit facility of $500M, which gives them enough room to acquire some other players in the space as it competes for the mid-tier crown. All things considered, I think B2Gold is still a great company to own through this cycle and am confident that the management will steer the ship to a great result.

You can find the full news release here.

Full Disclosure: Long B2Gold (BTO.TO and BTG). Our full list of holdings is available here.

 

4 thoughts on “Recent Buy – B2Gold

  1. I love it. Still sticking with the precious metals in some form. That’s cool. I respect the current buying a lot of us are doing even at these lofty levels. Of course, I have no idea about BTG except for the knowledge that many commodities, like gold, silver, oil, copper and others had a great July. I also made a recent buy on a very beaten down stock. Will post tomorrow. Thanks for sharing.

    • Thanks DivHut. Looking forward to seeing what you bought.

      Yup, Im sticking to PMs. The lofty market is sending me running for the hills. Almost every indicator out there is flashing red and I wouldnt want to buy anything here when it comes to broad US equity space.

      R2R

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