This is a routine annual proxy filing with no unexpected financial disclosures. Monitor the June 4 AGM for shareholder votes on RSU plan increase and say-on-pay, and watch for Q2 2026 operational updates on Goose Mine ramp-up and Fekola underground production.
Price Chart
Executive Summary
B2Gold filed its 2026 Management Information Circular and Notice of Annual General and Special Meeting, scheduled for June 4, 2026. The circular details record 2025 financial results including $3.1B in gold revenue and $896M in operating cash flow, CEO succession (Clive Johnson retiring, Mike Cinnamond becoming President & CEO), a proposed increase in RSU plan shares from 30M to 40M, and director elections. This is a routine annual proxy filing with no material new financial disclosures or unexpected events.
Key Facts
- 2025 consolidated gold production of 979,604 ounces within guidance of 940,000-1,045,000 ounces
- Record annual gold revenue of $3.1 billion
- Consolidated cash flow from operations of $896 million
- Cash operating costs of $769/oz produced, below guidance of $795-$855/oz
- AISC of $1,584/oz sold, at low end of guidance range of $1,575-$1,635/oz
- CEO Clive Johnson retiring at June 4, 2026 AGM; CFO Mike Cinnamond nominated as successor
- Proposal to increase RSU plan shares from 30M to 40M (2.99% of outstanding)
- Returned $117M to shareholders via dividends and NCIB in 2025
- Goose Mine achieved commercial production in October 2025
- 1,335,911,553 common shares outstanding as of record date April 13, 2026
Financial Impact
Record annual revenue of $3.1 billion and operating cash flow of $896 million in 2025; $117M returned to shareholders
Risk Factors
- Goose Mine ramp-up may face delays or cost overruns in achieving steady-state production of 300,000 oz/year
- Geopolitical risks in Mali, Namibia, and Philippines could impact operations
- Gold price volatility could affect future revenue and cash flow
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 8 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001104659-26-050245 |
| Document: tm265010d3_ex99-3.htm | 0001104659-26-050245 |
| Document: tm265010d3_6k.htm | 0001104659-26-050245 |
| Document: tm265010d3_ex99-2.htm | 0001104659-26-050245 |
| Document: tm265010d3_ex99-4.htm | 0001104659-26-050245 |
| Document: 0001104659-26-050245-index-headers.html | 0001104659-26-050245 |
| Document: 0001104659-26-050245-index.html | 0001104659-26-050245 |
| Document: 0001104659-26-050245.txt | 0001104659-26-050245 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 31, 2026 4w ago | 6-K | $5.48 $5.34 | ▼ −2.55% | ▼ −2.37% | $5.18 (−5.47%) |
Aug 7, 2026 8w ago | 6-K | $5.03 $5.61 | ▲ +11.53% | ▲ +11.93% | $5.18 (+2.98%) |
Jul 10, 2026 11w ago | Press Release | $3.78 $5.06 | ▲ +33.86% | ▲ +30.68% | $5.18 (+37.04%) |
Jun 8, 2026 16w ago | 6-K | $4.14 $4.05 | ▼ −2.17% | ▼ −3.81% | $5.18 (+25.12%) |
Jun 8, 2026 16w ago | 6-K | $4.14 $4.05 | ▼ −2.17% | ▼ −3.81% | $5.18 (+25.12%) |
Jun 5, 2026 16w ago | Press Release | $4.14 $4.05 | ▼ −2.17% | ▼ −3.81% | $5.18 (+25.12%) |
May 26, 2026 18w ago | 6-K | $4.52 $3.96 | ▼ −12.39% | ▼ −10.49% | $5.18 (+14.60%) |
May 25, 2026 18w ago | Press Release | $4.70 $3.82 | ▼ −18.72% | ▼ −16.78% | $5.18 (+10.21%) |
May 6, 2026 21w ago | Press Release | $4.95 $4.55 | ▼ −8.08% | ▼ −11.22% | $5.18 (+4.65%) |
Apr 28, 2026 22w ago | 6-K | $4.39 $4.70 | ▲ +7.06% | ▲ +1.59% | $5.18 (+18.00%) |
US Market Status
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