B2Gold Management

Management criteria checks 3/4

B2Gold's CEO is Clive Johnson, appointed in Dec 2006, has a tenure of 17.33 years. total yearly compensation is $5.73M, comprised of 16.7% salary and 83.3% bonuses, including company stock and options. directly owns 0.34% of the company’s shares, worth ZAR221.14M. The average tenure of the management team and the board of directors is 10.8 years and 6.5 years respectively.

Key information

Clive Johnson

Chief executive officer

US$5.7m

Total compensation

CEO salary percentage	16.7%
CEO tenure	17.3yrs
CEO ownership	0.3%
Management average tenure	10.8yrs
Board average tenure	6.5yrs

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
Dec 31 2023	n/a	n/a	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 ($USD5.73M) is above average for companies of similar size in the NA market ($USD1.27M).

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

CEO

Clive Johnson (65 yo)

17.3yrs

Tenure

US$5,734,278

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	17.3yrs	US$5.73m	0.34% $ 221.1m
Michael Cinnamond	Senior VP of Finance & CFO	10.8yrs	US$2.24m	0.027% $ 17.8m
William Lytle	Senior VP & COO	13.3yrs	US$2.24m	0.0089% $ 5.8m
Randall Chatwin	Senior Vice President of Legal & Corporate Communications	4.6yrs	US$3.62m	0.0033% $ 2.2m
Dennis Stansbury	Senior Vice President of Engineering & Project Evaluations	17.1yrs	US$2.18m	0.27% $ 175.1m
Michael McDonald	Vice President of Investor Relations & Corporate Development	2.3yrs	no data	0.00036% $ 237.1k
Ninette Krohnert	Vice President of Human Resources	no data	no data	0.00086% $ 566.3k
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
Victor King	Senior Vice President of Exploration	10.3yrs	no data	0.0058% $ 3.8m
Kerry Suffolk	Treasurer	no data	no data	no data
Peter Gibson	Group Financial Controller	no data	no data	no data

10.8yrs

Average Tenure

60.5yo

Average Age

Experienced Management: B2G's management team is seasoned and experienced (10.8 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Clive Johnson	President	17.3yrs	US$5.73m	0.34% $ 221.1m
George Johnson	Independent Director	8.1yrs	US$299.34k	0.038% $ 25.3m
Jerry Korpan	Independent Director	16.4yrs	US$296.57k	0.21% $ 141.5m
Kevin Bullock	Independent Director	10.3yrs	US$270.91k	0.0046% $ 3.0m
Kelvin Paul Dushnisky	Independent Chair of the Board	less than a year	no data	0.0077% $ 5.1m
Lisa Pankratz	Independent Director	1.3yrs	no data	no data
Robin Weisman	Independent Director	6.5yrs	US$294.36k	0.00024% $ 158.0k
Thabile Makgala	Independent Director	less than a year	no data	no data
Liane Kelly	Independent Director	4.3yrs	US$262.15k	no data

6.5yrs

Average Tenure

63.5yo

Average Age

Experienced Board: B2G's board of directors are considered experienced (6.5 years average tenure).

B2Gold Management

Management criteria checks 3/4

Key information

Recent management updates

Insider recently sold R675k worth of stock

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

Insider recently bought R699k worth of stock

Independent Chair of the Board recently bought R4.0m worth of stock

Independent Chair of the Board recently bought R2.0m worth of stock

Insider recently bought R3.1m worth of stock

Recent updates

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

Insider recently sold R675k 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.

Insider recently bought R699k worth of stock

Upcoming dividend of US$0.04 per share

Fourth quarter dividend of US$0.04 announced

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)

Independent Chair of the Board recently bought R4.0m worth of stock

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

Independent Chair of the Board recently bought R2.0m worth of stock

Insider recently bought R3.1m worth of stock

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 R704k worth of stock

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

New major risk - Revenue and earnings growth

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

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

President recently sold R216k worth of stock

Senior VP & COO recently sold R14m 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 sold R922k worth of stock

Insider recently sold R184k 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

B2Gold Corp. Provides Production Guidance for the Fiscal Year 2023

B2Gold Corp. Announces Additional Positive Exploration Drilling Results from the Fekola Complex in Mali

Now 21% undervalued

B2Gold Corp. Declares Cash Dividend for the Fourth Quarter of 2022, Payable on December 16, 2022

Insufficient new directors

Aurion Resources Ltd. Reports Results for Eleven Holes from Summer-Fall 2022 Drilling Program on Aurion-B2Gold Corp., Joint Venture, Operates by B2Gold , in Central Lapland Greenstone Belt in Northern Finland

B2gold Corp. Re-Affirms Production Guidance for the Full Year 2022

Third quarter 2022 earnings released: US$0.022 loss per share (vs US$0.12 profit in 3Q 2021)

Now 20% undervalued

B2Gold Corp. to Report Q3, 2022 Results on Nov 01, 2022

Investor sentiment improved over the past week

B2Gold Corp. Announces Positive Exploration Drill Results from the Anaconda Area at the Fekola Complex

B2Gold Corp. Declares Cash Dividend for the Third Quarter of 202, Payable on September 29, 2022

Investor sentiment improved over the past week

B2Gold Corp. (TSX:BTO) completed the acquisition of Oklo Resources Limited (ASX:OKU).

President recently sold R8.4m worth of stock

Second quarter 2022 earnings released: EPS: US$0.036 (vs US$0.065 in 2Q 2021)

B2Gold Corp. Revises Production Guidance for the Full Year of 2022

Osino Resources Corp. (TSXV:OSI) (FSE:RSR1) (OTCQX:OSIIF) completed the acquisition of Razorback Gold Mining Company (Proprietary) Limited from B2Gold Corp.

B2Gold Corp. Provides Production Guidance for the Year 2022

B2Gold Corp. to Report Q2, 2022 Results on Aug 03, 2022

B2Gold Corp. Announces Positive Exploration Drill Results in Mali from Fekola North and Anaconda Area Exploration Drilling