10:51 AM EDT, 03/15/2024 (MT Newswires) -- National Bank of Canada noted Friday B2Gold Corp. (BTO.TO)'s updated technical report for the Fekola operation.

The report outlined a posttax net present value of $1.0 billion, compared to the bank's projection of $1.07 billion.

Production was estimated at 3.11 million ounces or 459,000 ounces per year at all-in sustaining costs of $1,346 per ounce over a seven-year mill life.

The bank ascribed a neutral bias to the update, which confirmed the project's "robust" value that largely aligned with the bank's forecast.

National Bank gave B2Gold ( BTG ) an outperform rating with a $5.25 price target, citing the company's next leg of growth by consolidating the Fekola Complex and developing the Goose project.

The bank also noted B2Gold's ( BTG ) net asset value-accretive exploration opportunities, strong balance sheet and peer-leading dividend yield.

Price: 3.48, Change: +0.01, Percent Change: +0.29