B2Gold Management

Management criteria checks 3/4

B2Gold's CEO is Clive Johnson, appointed in Dec 2006, has a tenure of 17.92 years. total yearly compensation is $4.61M, comprised of 21.3% salary and 78.7% bonuses, including company stock and options. directly owns 0.26% of the company’s shares, worth €9.26M. The average tenure of the management team and the board of directors is 11.3 years and 3.3 years respectively.

Key information

Clive Johnson

Chief executive officer

US$4.6m

Total compensation

CEO salary percentage	21.3%
CEO tenure	17.9yrs
CEO ownership	0.3%
Management average tenure	11.3yrs
Board average tenure	3.3yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Clive Johnson's remuneration changed compared to B2Gold's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	-US$731m
Jun 30 2024	n/a	n/a	-US$141m
Mar 31 2024	n/a	n/a	-US$36m
Dec 31 2023	US$5m	US$981k	US$10m
Sep 30 2023	n/a	n/a	US$281m
Jun 30 2023	n/a	n/a	US$301m
Mar 31 2023	n/a	n/a	US$258m
Dec 31 2022	US$6m	US$960k	US$253m
Sep 30 2022	n/a	n/a	US$232m
Jun 30 2022	n/a	n/a	US$379m
Mar 31 2022	n/a	n/a	US$409m
Dec 31 2021	US$6m	US$1m	US$420m
Sep 30 2021	n/a	n/a	US$452m
Jun 30 2021	n/a	n/a	US$591m
Mar 31 2021	n/a	n/a	US$647m
Dec 31 2020	US$6m	US$1m	US$628m
Sep 30 2020	n/a	n/a	US$633m
Jun 30 2020	n/a	n/a	US$411m
Mar 31 2020	n/a	n/a	US$328m
Dec 31 2019	US$6m	US$924k	US$286m
Sep 30 2019	n/a	n/a	US$105m
Jun 30 2019	n/a	n/a	US$99m
Mar 31 2019	n/a	n/a	US$84m
Dec 31 2018	US$5m	US$879k	US$119m
Sep 30 2018	n/a	n/a	US$156m
Jun 30 2018	n/a	n/a	US$134m
Mar 31 2018	n/a	n/a	US$128m
Dec 31 2017	US$4m	US$955k	US$57m

Compensation vs Market: Clive's total compensation ($USD4.61M) is above average for companies of similar size in the German market ($USD1.93M).

Compensation vs Earnings: Clive's compensation has been consistent with company performance over the past year.

CEO

Clive Johnson (66 yo)

17.9yrs

Tenure

US$4,611,846

Compensation

Mr. Clive Thomas Johnson has been the Chief Executive Officer and President of B2Gold Corp. since December 17, 2006. He also serves as Chief Executive Officer of Bema Gold Corporation and a director of the...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Clive Johnson	President	17.9yrs	US$4.61m	0.26% € 9.3m
Michael Cinnamond	Senior VP of Finance & CFO	11.3yrs	US$2.30m	0.031% € 1.1m
William Lytle	Senior VP of Operations & COO	13.9yrs	US$2.30m	0.0037% € 132.7k
Randall Chatwin	Senior Vice President of Legal & Corporate Communications	5.2yrs	US$2.11m	0.0012% € 42.7k
Victor King	Senior Vice President of Exploration	10.9yrs	US$1.90m	0.0074% € 264.0k
Michael McDonald	Vice President of Investor Relations & Corporate Development	2.8yrs	no data	0.00036% € 12.9k
Ninette Krohnert	Vice President of Human Resources	no data	no data	0.00085% € 30.5k
Dennis Stansbury	Senior Vice President of Engineering & Project Evaluations	17.7yrs	US$2.18m	0.27% € 9.7m
Kevin Pemberton	Chief Mine Planning Engineer	no data	no data	no data
Mark Dawe	Managing Director and Country Manager of Namibia	no data	no data	no data
Kerry Suffolk	Treasurer	no data	no data	no data
Peter Gibson	Group Financial Controller	no data	no data	no data

11.3yrs

Average Tenure

61.5yo

Average Age

Experienced Management: 5BG's management team is seasoned and experienced (11.3 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Clive Johnson	President	17.9yrs	US$4.61m	0.26% € 9.3m
Jerry Korpan	Independent Director	17yrs	US$310.83k	0.21% € 7.6m
Kevin Bullock	Independent Director	10.9yrs	US$289.11k	0.0044% € 158.5k
Kelvin Paul Dushnisky	Independent Chair of the Board	1.4yrs	US$550.83k	0.0076% € 273.3k
Lisa Pankratz	Independent Director	1.8yrs	US$268.13k	no data
Greg Barnes	Director	no data	no data	no data
Basie Maree	Director	no data	no data	no data
Robin Weisman	Independent Director	7.1yrs	US$307.06k	0.00025% € 9.0k
Thabile Makgala	Independent Director	1.4yrs	US$124.05k	no data
Liane Kelly	Independent Director	4.8yrs	US$284.97k	no data

3.3yrs

Average Tenure

61.5yo

Average Age

Experienced Board: 5BG's board of directors are considered experienced (3.3 years average tenure).

B2Gold Management

Management criteria checks 3/4

Key information

Recent management updates

B2Gold Corp. Announces Board Appointments, Effective November 1, 2024

President recently sold €576k worth of stock

Senior VP of Operations & COO recently sold €357k worth of stock

B2Gold Corp. Announces George Johnson Not Standing for Reelection as Director

Insider recently sold €33k worth of stock

B2Gold Corp., Annual General Meeting, Jun 20, 2024

Recent updates

B2Gold Corp. Announces Positive Exploration Drilling Results from Its 2024 Drilling Campaign At the Goose Project

Third quarter dividend of US$0.04 announced

Third quarter 2024 earnings released: US$0.48 loss per share (vs US$0.033 loss in 3Q 2023)

B2gold Corp. Declares Cash Dividend for the Fourth Quarter of 2024, Payable on December 12, 2024

B2Gold Corp. Announces Board Appointments, Effective November 1, 2024

New major risk - Revenue and earnings growth

President recently sold €576k worth of stock

B2Gold Corp. to Report Q3, 2024 Results on Nov 06, 2024

New minor risk - Insider selling

Senior VP of Operations & COO recently sold €357k worth of stock

New minor risk - Share price stability

B2Gold Corp. Announces Goose Project Update

Upcoming dividend of US$0.04 per share

New minor risk - Shareholder dilution

Second quarter dividend of US$0.04 announced

Now 71% undervalued after recent price drop

Second quarter 2024 earnings released: US$0.018 loss per share (vs US$0.064 profit in 2Q 2023)

B2Gold Corp. Declares Cash Dividend for the Third Quarter of 2024, Payable on September 23, 2024

B2Gold Corp. to Report Q2, 2024 Results on Aug 08, 2024

B2Gold Corp. Announces George Johnson Not Standing for Reelection as Director

B2Gold Corp. Announces Initial Inferred Mineral Resource Estimate for the Springbok Zone of the Antelope Deposit at the Otjikoto Mine in Namibia

B2Gold Corp. Announces Positive Preliminary Economic Assessment Results for the Gramalote Project

Upcoming dividend of US$0.04 per share

First quarter dividend of US$0.04 announced

First quarter 2024 earnings released: EPS: US$0.031 (vs US$0.08 in 1Q 2023)

B2Gold Corp. Declares Cash Dividend for the Second Quarter of 2024, Payable on June 24, 2024

B2Gold Corp. to Report Q1, 2024 Results on May 07, 2024

Insider recently sold €33k worth of stock

B2Gold Corp., Annual General Meeting, Jun 20, 2024

Rupert Resources Ltd. (TSX:RUP) entered into a letter of arrangement to acquire 70% interest in Fingold Ventures Ltd. from B2Gold Corp. (TSX:BTO) for approximately CAD 100 million.

Upcoming dividend of US$0.04 per share

Fourth quarter dividend of US$0.04 announced

New minor risk - Earnings quality

Full year 2023 earnings released: EPS: US$0.008 (vs US$0.24 in FY 2022)

B2gold Corp. Reports Impairment Charges for the Fourth Quarter Ended December 31, 2023

B2Gold Corp. to Report Q4, 2023 Results on Feb 21, 2024

B2Gold Corp. Announces Positive Exploration Drilling Results from the Antelope Deposit At the Otjikoto Mine in Namibia

B2Gold Corp. Announces Production Results of the Fekola Complex Optimization Study

B2Gold Corp. Declares Fourth Quarter 2023 Dividend, Payable on December 18, 2023

B2Gold Corp. Announces Positive Exploration Drilling Results from Its Inaugural Drilling Campaign at the Back River Gold District in Nunavut and Provides an Update on Construction and Mining at the Goose Project

B2Gold Corp. Provides Production Guidance for the Fourth Quarter and Full Year of 2023

Third quarter 2023 earnings released: US$0.033 loss per share (vs US$0.022 loss in 3Q 2022)

B2Gold Corp. to Report Q3, 2023 Results on Nov 08, 2023

B2Gold Corp. Provides Construction Update for the Goose Project in Nunavut, Canada

B2Gold Corp. (TSX:BTO) entered into a purchase agreement to acquire remaining 50% stake in Gramalote Project from AngloGold Ashanti Limited (JSE:ANG) for $60 million.

Insider recently bought €34k worth of stock

Upcoming dividend of US$0.04 per share at 5.2% yield

B2gold Corp. Declares Third Quarter 2023 Cash Dividend, Payable on September 29, 2023

B2Gold Corp. Declares Third Quarter 2023 Dividend, Payable on September 29, 2023

Aurion Resources Ltd. B2Gold Corp and Joint Venture Discovers New Zone of Gold Mineralization South of Helmi

B2Gold Corp. Provides Operating Guidance for the Year 2023

Second quarter 2023 earnings released: EPS: US$0.064 (vs US$0.036 in 2Q 2022)

B2Gold Corp. Provides Production Guidance for the Year 2023

B2Gold Corp. to Report Q2, 2023 Results on Aug 02, 2023

B2Gold Corp. Provides Construction Update for the Goose Project in Nunavut, Canada

B2Gold Corp. Announces Updated and Significantly Increased Mineral Resource Estimate for the Anaconda Area, Located Near the Fekola Mine, Mali

New major risk - Revenue and earnings growth

B2Gold Corp. Declares Second Quarter 2023 Dividend, Payable on June 27, 2023

Senior VP & COO recently sold €662k worth of stock

B2Gold Corp. Provides Production Guidance for the Year 2023

First quarter 2023 earnings released: EPS: US$0.08 (vs US$0.076 in 1Q 2022)

Insider recently bought €73k worth of stock

Upcoming dividend of US$0.04 per share at 4.7% yield

Full year 2022 earnings released: EPS: US$0.24 (vs US$0.40 in FY 2021)

B2Gold Corp. (TSX:BTO) signed non-binding letter of intent to acquire Sabina Gold & Silver Corp. (TSX:SBB) for CAD $1 billion.

B2Gold Corp. (TSX:BTO) signed non-binding letter of intent to acquire Sabina Gold & Silver Corp. (TSX:SBB) for CAD $1 billion.

B2Gold Corp. to Report Q4, 2022 Results on Feb 22, 2023

Insufficient new directors

B2Gold Corp. Appoints Lisa Pankratz to the Board of Directors