<SEC-DOCUMENT>0001062993-18-001595.txt : 20180411
<SEC-HEADER>0001062993-18-001595.hdr.sgml : 20180411
<ACCEPTANCE-DATETIME>20180411140550
ACCESSION NUMBER:		0001062993-18-001595
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20180411
FILED AS OF DATE:		20180411
DATE AS OF CHANGE:		20180411

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			B2GOLD CORP
		CENTRAL INDEX KEY:			0001429937
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A1

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35936
		FILM NUMBER:		18749698

	BUSINESS ADDRESS:	
		STREET 1:		595 BURRARD STREET, SUITE 3100
		CITY:			VANCOUVER, BRITISH COLUMBIA
		STATE:			A1
		ZIP:			V7X 1J1
		BUSINESS PHONE:		(604) 601-2962

	MAIL ADDRESS:	
		STREET 1:		595 BURRARD STREET, SUITE 3100
		CITY:			VANCOUVER, BRITISH COLUMBIA
		STATE:			A1
		ZIP:			V7X 1J1
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>form6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<HTML>
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   <TITLE>B2Gold Corp.: Form 6-K - Filed by newsfilecorp.com</TITLE>
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<P align=center><B><FONT size=5>UNITED STATES</FONT></B><BR><B><FONT
size=5>SECURITIES AND EXCHANGE COMMISSION</FONT></B><BR><B>Washington, D.C.
20549</B></P>
<P align=center><B><FONT size=5>FORM 6-K</FONT></B></P>
<P align=center>REPORT OF FOREIGN PRIVATE ISSUER<BR>PURSUANT TO RULE 13a-16 OR
15d-16<BR>UNDER THE SECURITIES EXCHANGE ACT OF 1934</P>
<P align=center>For the month of <strong>April, 2018</strong></P>
<P align=center>Commission File Number: <B><U>001-35936</U></B></P>
<P align=center><U><B><FONT size=5>B2Gold Corp.</FONT></B><BR></U>(Translation
of registrant&#146;s name into English)</P>
<P align=center><U><B>British Columbia, Canada</B><BR></U>(Jurisdiction of
incorporation or organization)</P>
<P align=center><B>Suite 3100, Three Bentall Centre</B><BR><B>595 Burrard
Street</B><BR><B>Vancouver, British Columbia V7X
1J1</B><BR><U><B>Canada</B><BR></U>(Address of principal executive office)</P>
<P align=center>Indicate by check mark whether the registrant files or will file
annual reports under cover of Form 20-F or Form 40-F: </P>
<P align=center>[&nbsp;&nbsp;&nbsp;] Form
20-F&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[X] Form 40-F</P>
<P align=center>Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
[&nbsp;&nbsp;&nbsp;]</P>
<P align=center>Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
[&nbsp;&nbsp;&nbsp;]</P>
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<P align=center><B>DOCUMENTS INCLUDED AS PART OF THIS FORM 6-K</B></P>
<P align=justify>See the Exhibit Index hereto.</P>
<P align=center><B>SIGNATURES</B></P>
<P align=justify>Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 height="91">

  <TR vAlign=top>
    <TD align=left height="15" >&nbsp; </TD>
    <TD align=left width="5%" height="15" >&nbsp; </TD>
    <TD align=left width="45%" height="15"><B>B2Gold Corp.</B> </TD></TR>
  <TR>
    <TD height="15" >&nbsp; </TD>
    <TD width="5%" height="15" >&nbsp; </TD>
    <TD align=left width="45%" height="15">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left height="15" >&nbsp; </TD>
    <TD align=left width="5%" height="15" >&nbsp; </TD>
    <TD align=left width="45%" height="15"></TD></TR>
  <TR vAlign=top>
    <TD align=left height="16" >Date: <strong style="font-weight: 400">April 11,
    2018</strong></TD>
    <TD align=left width="5%" height="16" >By: </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
      width="45%" height="16"><EM>/s/ Roger Richer</EM></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left height="15" >&nbsp; </TD>
    <TD align=left width="5%" height="15" >Name: </TD>
    <TD align=left width="45%" height="15">Roger Richer</TD></TR>
  <TR vAlign=top>
    <TD align=left height="15" >&nbsp; </TD>
    <TD align=left width="5%" height="15" >Title: </TD>
    <TD align=left width="45%" height="15">Executive Vice President, General Counsel &amp;
    Secretary</TD></TR></TABLE><BR>
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<P align=center><B>EXHIBIT INDEX</B></P>
<TABLE
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cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left ><B>Exhibit</B> </TD>
    <TD align=left width="90%"><B>Description</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left ><B>No.</B> </TD>
    <TD align=left width="90%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee ><a href="exhibit99-1.htm">99.1 </a></TD>
    <TD align=left width="90%" bgColor=#eeeeee><a href="exhibit99-1.htm">News
    release dated<strong style="font-weight: 400"> April 11, 2018</strong></a></TD>
  </TR></TABLE><BR>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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   <TITLE>B2Gold Corp.: Exhibit 99.1 - Filed by newsfilecorp.com</TITLE>
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<IMG src="exhibit99-1x1x1.jpg" border=0 width="165" height="133"> </P>
<TABLE
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cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD align=center><B>News Release</B> </TD></TR>
  <TR vAlign=top>
    <TD align=center><B>B2Gold Reports Record First Quarter Gold Production
      and Revenue in 2018;</B> </TD></TR>
  <TR vAlign=top>
    <TD align=center><B>Quarterly Gold Production Increase of 81% to 240,000
      Ounces and</B> </TD></TR>
  <TR vAlign=bottom>
    <TD align=center><B>Revenues More than Double to  $344 Million</B>
  </TD></TR></TABLE>
<P align=justify><B>Vancouver, April 11, 2018 &#150; </B>B2Gold Corp. (TSX: BTO, NYSE
AMERICAN: BTG, NSX: B2G) (&#147;B2Gold&#148; or the &#147;Company&#148;) is pleased to announce its
gold production and gold revenue for the first quarter of 2018. All dollar
figures are in United States dollars unless otherwise indicated.</P>
<P align=justify><B>First Quarter 2018 Highlights </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%">
      <P align=justify>Record quarterly consolidated gold production of 239,684
      ounces, a significant increase of 81% (or 106,948 ounces) over the same
      period last year, and 7% (or 16,252 ounces) above budget, due to the
      continued strong performances of the Fekola Mine in Mali, Masbate Mine in
      the Philippines and the Otjikoto Mine in Namibia </P></TD></TR>
  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%">
      <P align=justify>Record quarterly consolidated gold revenue of $344.3
      million, a significant increase of 135% (or $198.0 million) over the same
      period last year </P></TD></TR>
  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%">
      <P align=justify>Fekola Mine continued to operate above plan since
      achieving commercial production on November 30, 2017, producing 114,142
      ounces of gold in the quarter, 11% (or 11,228 ounces) above budget
  </P></TD></TR>
  <TR vAlign=top>
    <TD align=left >&#149; </TD>
    <TD align=left width="95%">
      <P align=justify>B2Gold is well on target to achieve transformational
      growth in 2018 and meet its annual guidance of between 910,000 and 950,000
      ounces of gold production in 2018 at cash operating costs (<I>see
      &#147;Non-</I> <I>IFRS Measures&#148;</I>) of between $505 and $550 per ounce and
      all-in sustaining costs (&#147;AISC&#148;) (<I>see</I> <I>&#147;Non-IFRS Measures&#148;</I>)
      of between $780 and $830 per ounce </P></TD></TR></TABLE>
<P align=justify><B>Gold Production</B></P>
<P align=justify>With the large, low-cost Fekola Mine now in production,
consolidated gold production in the first quarter of 2018 was a quarterly record
of 239,684 ounces, a significant increase of 81% (or 106,948 ounces) over the
same period last year, and 7% (or 16,252 ounces) above budget. In its first full
quarter of operations (after achieving commercial production on November 30,
2017, within only 60 days from start-up), the new Fekola Mine continued to
operate above plan, producing 114,142 ounces of gold in the first quarter of
2018, 11% (or 11,228 ounces) above budget. The Masbate Mine and Otjikoto Mine
also had a solid start to the year with both mines exceeding their targeted
production levels for the quarter.</P>
<P align=justify>B2Gold is well on target to achieve transformational growth in
2018. For full-year 2018, with the planned first full year of production from
the Fekola Mine, consolidated gold production is forecast to be between 910,000
and 950,000 ounces. This represents an increase in annual consolidated gold
production of approximately 300,000 ounces in 2018 from 2017. The Company&#146;s
forecast consolidated cash operating costs are expected to remain low in 2018 and be between $505
and $550 per ounce, and AISC are expected to decrease by approximately 6% from
2017 and be between $780 and $830 per ounce.</P>
<P align=center>1 </P>
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<P align=justify>The Fekola Mine is the Company&#146;s largest and lowest-cost
producer. The resulting increase in production levels combined with low costs
are projected to dramatically increase B2Gold&#146;s production, revenues, cash from
operations and cash flow for many years, based on current assumptions (including
a gold price assumption of $1,300 per ounce). On average over the next three
years, beginning in 2018, the Company is projecting per annum gold sales
revenues of approximately $1.2 billion, cash flow from operations of
approximately $0.5 billion and a significant increase in free cash flow
(operating cash flows less investing cash flows).</P>
<P align=justify><B>Gold Revenue </B></P>
<P align=justify>Consolidated gold revenue in the first quarter of 2018 was a
quarterly record of $344.3 million on record sales of 259,837 ounces at an
average price of $1,325 per ounce compared to $146.3 million on sales of 119,937
ounces at an average price of $1,219 per ounce in the first quarter of 2017.
This significant increase in revenue of 135% (or $198.0 million) was
attributable to the new production from the Fekola Mine, as well as a 9%
increase in the average realized gold price and the timing of gold shipments
(including 27,450 ounces sold in the quarter which related to Fekola&#146;s December
31, 2017, finished gold inventory).</P>
<P align=justify>Consolidated gold revenue for the first quarter of 2018
included $15 million relating to the delivery of gold into the Company's Prepaid
Sales contracts (accounted for as deferred revenue). During the quarter, 12,908
ounces of gold were delivered under these contracts. </P>
<P align=justify><B>Operations</B><B> </B></P>
<P align=justify>Mine-by-mine gold production in the first quarter of 2018 was
as follows:</P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD noWrap align=center bgColor=#eeeeee><B>Mine</B> </TD>
    <TD noWrap align=center width="33%" bgColor=#eeeeee><B>Q1 2018</B>
      <BR><B>Gold Production</B> <BR><B>(ounces) </B><B><SUP>(1)</SUP></B> </TD>
    <TD noWrap align=center width="33%" bgColor=#eeeeee><B>2018</B>
      <BR><B>Annual Production Guidance</B> <BR><B>(ounces)
      </B><B><SUP>(1)</SUP></B> </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#ffffff>Fekola </TD>
    <TD align=center width="33%" bgColor=#ffffff>114,142 </TD>
    <TD align=center width="33%" bgColor=#ffffff>400,000 - 410,000 </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#ffffff>Masbate </TD>
    <TD align=center width="33%" bgColor=#ffffff>53,147 </TD>
    <TD align=center width="33%" bgColor=#ffffff>180,000 - 190,000 </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#ffffff>Otjikoto </TD>
    <TD align=center width="33%" bgColor=#ffffff>39,499 </TD>
    <TD align=center width="33%" bgColor=#ffffff>160,000 - 170,000 </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#ffffff>La Libertad </TD>
    <TD align=center width="33%" bgColor=#ffffff>19,367 </TD>
    <TD align=center width="33%" bgColor=#ffffff>115,000 - 120,000 </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#ffffff>El Limon </TD>
    <TD align=center width="33%" bgColor=#ffffff>13,529 </TD>
    <TD align=center width="33%" bgColor=#ffffff>55,000 - 60,000 </TD></TR>
  <TR>
    <TD bgColor=#ffffff>&nbsp; </TD>
    <TD align=center width="33%" bgColor=#ffffff>&nbsp; </TD>
    <TD align=center width="33%" bgColor=#ffffff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#ffffff><B>B2Gold Consolidated</B> </TD>
    <TD align=center width="33%" bgColor=#ffffff><B>239,684</B> </TD>
    <TD align=center width="33%" bgColor=#ffffff><B>910,000</B> <B>-</B>
      <B>950,000</B> </TD></TR></TABLE></DIV><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><sup>(1) </sup> </TD>
    <TD>B2Gold&#146;s Q1 2018 production results and 2018 annual production
      guidance are presented on a 100% basis. </TD></TR></TABLE>
<P align=justify><U>Fekola Gold Mine &#150; Mali</U> </P>
<P align=justify>In its first full quarter of operations (after achieving
commercial production on November 30, 2017, within only 60 days from start-up),
the new Fekola Mine in Mali continued to demonstrate strong, sustained operational performance by running above plan on mill
feed grade, throughput and recoveries. This resulted in the Fekola Mine
producing 114,142 ounces of gold in the first quarter of 2018, 11% (or 11,228
ounces) above budget. Mill feed grade, throughput and recoveries were 2.84 grams
per tonne (&#147;g/t&#148;) (compared to budget of 2.76 g/t), 1,316,818 tonnes (compared
to budget of 1,249,474 tonnes) and 94.8% (compared to budget of 92.7%),
respectively. Throughout the quarter, the operation continued to improve with
many construction personnel making the transition to operations, together with
training and skills development in all departments. Currently, there are
approximately 1,848 employees on site and, of these, approximately 93% are
Malian. The Fekola Mine also continued its outstanding safety performance,
achieving 694 days without a Lost-Time-Injury by quarter-end.</P>
<P align=center>2 </P>
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<P align=justify>Fekola&#146;s very rapid and successful ramp-up has surpassed the
Company&#146;s expectations. On September 25, 2017, the Company announced that its
in-house construction team had completed construction of the Fekola mill on
budget and commenced ore processing at the Fekola Mine, more than three months
ahead of the original schedule. The first gold pour at the Fekola Mine was
achieved on October 7, 2017. On November 30, 2017, the Fekola Mine achieved
commercial production, one month ahead of the revised schedule and four months
ahead of the original schedule. Gold production from the Fekola Mine in 2017 was
111,450 ounces (including 79,243 ounces of pre-commercial production), more than
doubling the upper end of its original 2017 guidance range (of 55,000 ounces)
due to its early start-up, high-quality construction and faster than expected
ramp-up.</P>
<P align=justify>For full-year 2018, the Fekola Mine is forecast to produce
between 400,000 and 410,000 ounces of gold at cash operating costs of between
$345 and $390 per ounce and AISC between $575 and $625 per ounce. </P>
<P align=justify>Positive drill results from the Company&#146;s 2017 exploration
program at the Fekola area <I>(see news release dated 11/9/2017)</I> indicated
that the main Fekola deposit, with additional drilling, could extend
significantly to the north. In addition, drilling below the extensive saprolite
resource at the Anaconda zones has discovered four, well-mineralized bedrock
(sulphide) zones, indicating the potential for large, Fekola-style mineralized
zones.</P>
<P align=justify>The Company&#146;s 2018 exploration budget for Mali is approximately
$15.1 million, focusing on the Fekola North Extension zone and sulphide targets
below the Anaconda saprolite zones. The Company expects to release the results
from a series of additional drill holes from its Mali exploration program before
the end of April 2018. In addition, the Company anticipates releasing more drill
results for the Fekola North Extension zone and Anaconda zones around
mid-year.</P>
<P align=justify><U>Masbate Gold Mine &#150; Philippines</U> </P>
<P align=justify>The Masbate Mine in the Philippines continued its strong
operational performance into the first quarter of 2018, producing 53,147 ounces
of gold, 12% (or 5,854 ounces) above budget and 1% (or 585 ounces) higher
compared to the prior-year quarter. The increase was mainly due to higher than
expected oxide ore tonnage from Vein 5 of the Colorado Pit which positively
impacted processing recoveries and throughput. Oxide ore represented 78% of the
processed tonnage for the quarter versus budget of 50%. The Masbate Mine also
continued its outstanding safety performance, achieving almost two and a half
years (898 days) without a Lost-Time-Injury by quarter-end.</P>
<P align=center>3 </P>
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<P align=justify>For the quarter, mill throughput was 1,792,579 tonnes (compared
to budget of 1,706,064 tonnes and 1,704,001 tonnes in the first quarter of 2017)
and gold recoveries averaged 78.5% (compared to budget of 72.1% and 74.8% in the
first quarter of 2017). The average grade processed was 1.17 g/t compared to
budget of 1.20 g/t and 1.28 g/t in the first quarter of 2017. As expected,
grades were higher in the prior-year quarter which was attributable to the
high-grade ore from the Main Vein Stage 1 Pit which is no longer in production
as scheduled.</P>
<P align=justify>For full-year 2018, the Masbate Mine is expected to produce
between 180,000 and 190,000 ounces of gold at cash operating costs of between
$675 and $720 per ounce and AISC of between $875 and $925 per ounce.</P>
<P align=justify>A detailed capital cost estimate of $25.5 million was recently
completed by Lycopodium Ltd., working with the Company's engineering team, for
the expansion of the Masbate processing plant to 8 million tonnes per year ($23
million in 2018 and $2.5 million in 2019). The expansion, which is being
conducted by B2Gold&#146;s in-house team, primarily consists of adding a third ball
mill and upgrading the existing crushing circuit. The ball mill is currently on
site, with preliminary works planned to commence in the second quarter of 2018.
No addition to the mining fleet is required as the additional feed will come
from the lower-grade material that was in the original mine plan but was
scheduled to be stockpiled. When the expansion is online (expected in early
2019), it is projected to keep Masbate's annual gold production near 200,000
ounces per year during the mining phase, and is expected to keep gold production
above 100,000 ounces per year when the low-grade stockpiles are processed at the
end of the open-pit mine life.</P>
<P align=justify>The Company has a successful track record of adding reserves
and resources at its operations (and thereby extending mine life) through
exploration. The Masbate exploration budget for 2018 is approximately $5.1
million, including 12,000 metres of diamond drilling. The drilling is divided
into brownfields drilling to upgrade resources within the mine licence and on
regional targets. </P>
<P align=justify><U>Otjikoto Gold Mine &#150; Namibia</U> </P>
<P align=justify>The Otjikoto Mine in Namibia also had a strong start to the
year (following a record year of gold production in 2017) with first quarter
gold production of 39,499 ounces which was above budget by 6% (or 2,174 ounces).
Mill throughput, recoveries and processed grade were all slightly above budget,
as the mine continues to incrementally optimize its operations. Compared to the
prior-year quarter, gold production was lower by 8% (or 3,275 ounces), as
planned, due to a negligible amount of Wolfshag ore being mined in 2018 while
Phase 2 of the Wolfshag Pit is being developed. Ore production is planned to
resume again from the Wolfshag Pit in 2019 which is projected to provide higher
grade open-pit mill feed. The Otjikoto mill continued to operate well,
processing 827,227 tonnes (Q1 2017 &#150; 832,805 tonnes) in the quarter at an
average grade of 1.51 g/t (Q1 2017 &#150; 1.62 g/t) with gold recoveries averaging
98.7% (Q1 2017 &#150; 98.6%) . </P>
<P align=justify>For full-year 2018, the Otjikoto Mine is expected to produce
between 160,000 and 170,000 ounces of gold, primarily from the Otjikoto Pit, at
cash operating costs of between $480 and $525 per ounce and AISC of between $700
and $750 per ounce.</P>
<P align=justify>Geotechnical, hydrogeological and design studies for Wolfshag
have been completed, based on an updated resource model, resulting in a larger
open pit than previously reported. Mining at Wolfshag commenced in late 2016 and Wolfshag ore provided a significant
component of the Otjikoto mill feed in 2017. Updated Wolfshag mineral reserves
and resources were reported in the Company's recent Annual Information Form,
dated March 23, 2018, with 372,000 ounces of Probable Mineral Reserves (4.29
million tonnes at an average grade of 2.70 g/t, on a 90% attributable basis)
remaining in the Wolfshag open pit, as at December 31, 2017. This updated
reserve, based on the larger Wolfshag open-pit design, includes an additional
132,000 ounces of Probable Mineral Reserves (1.42 million tonnes at an average
grade of 2.88 g/t, on a 90% attributable basis) within Wolfshag Phase 4. In
addition, the Wolfshag mineral resource remains open down-plunge and may be
exploitable in the future by underground mining. </P>
<P align=center>4 </P>
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<P align=justify>The Company&#146;s total exploration budget for Namibia in 2018 is
$5.1 million. Exploration in 2018 will include 17,000 metres of diamond drilling
and 4,000 metres of RAB drilling, split between the Otjikoto Project and the
Ondundu joint venture. </P>
<P align=justify><U>La Libertad Gold Mine &#150; Nicaragua</U> </P>
<P align=justify>La Libertad Mine in Nicaragua produced 19,367 ounces of gold in
the first quarter of 2018, 10% (or 2,128 ounces) below budget and 32% (or 9,172
ounces) lower than the first quarter of 2017. Gold production at La Libertad has
been affected by permitting delays for new mining areas. However, mine permits
are now in place for all open pit and underground operations with the exception
of the Jabali Antenna Pit. The San Diego mining permit was received in February
2018 and the pit is now fully operational. Gold production at La Libertad was
slightly above budget for the month of March, as the mill benefitted from
increased sources and volume of open-pit ore. Jabali Antenna Underground remains
under development with the planned ventilation raise now complete. Access ramp
development has advanced approximately two months ahead of original schedule for
2018, as a result of an early start by the underground mining contractor. The
Company expects to begin processing ore from Jabali Antenna Underground in
July.</P>
<P align=justify>For full-year 2018, La Libertad Mine is expected to produce
between 115,000 and 120,000 ounces of gold at cash operating costs of between
$745 and $790 per ounce and AISC of between $1,050 and $1,100 per ounce. La
Libertad&#146;s production forecast assumes that production will start from the
Jabali Antenna Pit in the third quarter of 2018 (dependent upon the successful
completion of resettlement activities and receipt of the remaining mining
permits). Current plans at La Libertad include mining and processing into 2020,
with a combination of mineral reserves and mineral resources. The Company has a
successful track record of converting its mineral resources to reserves, and
exploration of additional mineral targets continues. Mineral resources that are
not mineral reserves do not yet have demonstrated economic viability.</P>
<P align=justify>La Libertad&#146;s exploration budget for 2018 is approximately $4.8
million for a total of 9,000 metres of planned diamond drilling. The program is
split between infill (near-mine) drilling and drilling on several regional
targets. </P>
<P align=justify><U>El Limon Gold Mine &#150; Nicaragua</U> </P>
<P align=justify>El Limon Mine in Nicaragua produced 13,529 ounces of gold in
the first quarter of 2018, slightly below budget (of 14,405 ounces) and 53% (or
4,668 ounces) higher than the first quarter of 2017. During 2017, El Limon&#146;s
production was affected by operational issues, including underground water
pumping breakdowns, which had delayed high-grade ore flow from Santa Pancha
Underground. Management changes were made at El Limon and mining operations returned to
budgeted (normal) production rates in the fourth quarter of 2017, with
operational improvements including the successful rehabilitation of the Santa
Pancha 1 dewatering well. The mining permit for the new Mercedes Pit was
recently received in December 2017, and the pit is now fully operational,
accounting for over 30% of the mined ounces for the quarter.</P>
<P align=center>5 </P>
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<P align=justify>For full-year 2018, El Limon is expected to produce between
55,000 and 60,000 ounces of gold at cash operating costs of between $700 and
$750 per ounce and AISC of between $1,135 and $1,185 per ounce.</P>
<P align=justify>On February 23, 2018, the Company announced the
newly-discovered El Limon Central zone. Historical records had indicated that
parts of the Central zone had been mined underground in past decades. However,
the Company's recent exploration success at the Central zone demonstrated that
underground mining was much more limited than previously thought. As a result,
on February 23, 2018, the Company announced a positive initial open-pit Inferred
Mineral Resource at El Limon Central zone of 5,130,000 tonnes at a grade of 4.92
g/t of gold containing 812,000 ounces of gold (100% basis) <I>(see news release
dated 2/23/18)</I>. The Central zone, at its closest point, is approximately 150
metres from El Limon mill facility, extending southeast and northwest, adjacent
to existing plant and administrative infrastructure. This large, good grade,
resource has the potential to decrease El Limon's cash operating costs per ounce
and AISC per ounce, and significantly increase its mine life and potentially
lead to mill expansion. The Company is currently conducting additional
metallurgical testing on El Limon Central ore samples and a study to evaluate
the potential to expand El Limon throughput to significantly increase annual
gold production. The study results are expected by mid-2018.</P>
<P align=justify>El Limon central vein structure has been drill tested along a
2.2 -kilometre strike length so far, and remains open to depth and along strike,
and will be further drill tested during 2018. El Limon&#146;s exploration budget for
2018 is approximately $7.0 million for a total of 25,000 metres of planned
diamond drilling to further infill at the Central zone and to further explore
the structure along strike where it remains open.</P>
<P align=justify><B>Outlook</B></P>
<P align=justify>Looking forward, the Company will remain focused on continuing
its impressive operational and financial performance from existing mines,
pursuing expansion opportunities at existing operations and continuing with
aggressive exploration and development programs to unlock the potential of its
existing portfolio of properties.</P>
<P align=justify><B>About B2Gold </B></P>
<P align=justify>Headquartered in Vancouver, Canada, B2Gold Corp. is the world&#146;s
new senior gold producer. Founded in 2007, today, B2Gold has five operating gold
mines and numerous exploration and development projects in various countries
including Nicaragua, the Philippines, Namibia, Mali, Burkina Faso, Colombia and
Finland. </P>
<P align=center>6 </P>
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<P align=justify><B>Qualified Person</B></P>
<P align=justify>Peter D. Montano, P.E., the Project Director of B2Gold, a
qualified person under NI 43-101, has approved the scientific and technical
information related to operations matters contained in this news release. </P>
<P align=justify>Tom Garagan, Senior Vice President of Exploration of B2Gold, a
qualified person under NI 43-101, has approved the scientific and technical
information regarding exploration matters contained in this news release. </P>
<P align=justify>John Rajala, Vice President of Metallurgy of B2Gold, a
qualified person under NI 43-101, has approved the scientific and technical
information to El Limon development contained in this news release. </P>
<P align=justify><B>First Quarter 2018 Financial Results </B><U>&#150;</U><B>
Conference Call Details </B></P>
<P align=justify>B2Gold will release its first quarter 2018 results before the
North American markets open on Thursday, May 10, 2018. </P>
<P align=justify>B2Gold executives will host a conference call to discuss the
results on <B>Thursday, May 10, 2018, at 10:00 am PDT / 1:00 pm EDT</B>. You may
access the call by dialing the operator at +1 647-788-4919 (local or
international) or toll free at +1 877-291-4570 prior to the scheduled start
time, or you may listen to the call via webcast by clicking <U><FONT
color=#0000ff>http://www.investorcalendar.com/event/27596</FONT></U>. A playback
version of the call will be available for two weeks after the call at +1
416-621-4642 (local or international) or toll free at +1 800-585-8367 (passcode
7166938). </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>ON BEHALF OF B2GOLD CORP.</B> </TD></TR>
  <TR>
    <TD>&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>&#147;Clive T. Johnson&#148;</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>President and Chief Executive Officer</B>
</TD></TR></TABLE>
<P align=justify>For more information on B2Gold, please visit the Company
website at <U><FONT color=#0000ff>www.b2gold.com</FONT></U> or contact: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>Ian MacLean </TD>
    <TD align=left width="50%">Katie Bromley </TD></TR>
  <TR vAlign=top>
    <TD align=left>Vice President, Investor Relations </TD>
    <TD align=left width="50%">Manager, Investor Relations &amp; Public
      Relations </TD></TR>
  <TR vAlign=top>
    <TD align=left>604-681-8371 </TD>
    <TD align=left width="50%">604-681-8371 </TD></TR>
  <TR vAlign=top>
    <TD align=left><U>imaclean@b2gold.com</U> </TD>
    <TD align=left width="50%"><U>kbromley@b2gold.com</U> </TD></TR></TABLE>
<P align=justify><I>The Toronto Stock Exchange and the NYSE American LLC neither
approve nor disapprove the information contained in this news release.</I></P>
<P align=justify><I>Production results and the Company&#146;s guidance presented in
this news release reflect the total production at the mines the Company operates
on a 100% basis. </I></P>
<P align=justify><I>This news release includes certain &#147;forward-looking
information&#148; and &#147;forward-looking statements&#148; (collectively &#147;forward-looking
statements&#148;) within the meaning of applicable Canadian and United States
securities legislation, including projections, guidance, forecasts, estimates
and other statements regarding future financial and operational performance,
events, production, mine life, revenue, cash flows, costs, including projected
cash operating costs and AISC and expected decrease of forecast consolidated
cash operating costs and AISC in 2018, capital expenditures, budgets, ore
grades, sources and types of ore, stripping ratios, throughput, ore processing,
cash flows and growth; production estimates and guidance, including the
Company&#146;s projected increase of gold production to between 910,000 and 950,000
ounces in 2018, reflecting production growth of approximately 300,000 ounces
from 2017; project-specific projections of gold production and costs; the
increased production </I><i>and low costs increasing the Company&#146;s production revenues,
cash from operations and cash flow for many years; and statements regarding
anticipated exploration, drilling, development, construction, production,
permitting and other activities and achievements of the Company, including but
not limited to: expected grades and sources of ore to be processed in 2018; the
Fekola Mine being a low-cost producer and its anticipated reduction on the
Company&#146;s per ounce costs; further exploration drilling at the Fekola Mine,
sulphide targets below the Anaconda saprolite and the potential for extension of
the main Fekola deposit to the north and for large, Fekola-style mineralized
zones; the ratification by the Mali National Assembly of the Fekola
Shareholders&#146; Agreement and the Share Purchase Agreement; the resumption of ore
production from the Wolfshag Pit at the Otjikoto Mine in 2019 and the effects
thereof; the potential exploitation of Wolfshag resources in the future by
underground mining; the expected start of gold production from the Jabali
Antenna Pit in the third quarter of 2018, which is subject to, among other
things, the completion of resettlement activities and receipt of remaining
mining permits in a timely fashion; current plans at the La Libertad Mine
including anticipated mining and processing thereat; exploration and testing at
El Limon Mine, the potential to expand El Limon Mine&#146;s throughput to
significantly increase annual gold production and reduce cash operating costs
and the results and timing of the Company&#146;s study thereof; the potential of the
newly discovered El Limon Central zone and its effect on mining costs and mine
life; the expansion of the Masbate Mine&#146;s processing plant to 8 million tonnes
per year, the timing thereof, and the resulting expected annual gold production
at Masbate Mine of near 200,000 ounces per year during the mining phase and
above 100,000 ounces per year when low-grade stockpiles are processed; the
Company remaining focused on continuing its impressive operational and financial
performance; and the Company continuing aggressive exploration and development
programs. Estimates of mineral resources and reserves are also forward-looking
statements because they constitute projections regarding the amount of minerals
that may be encountered in the future and/or the anticipated economics of
production, should a production decision be made. All statements in this news
release that address events or developments that we expect to occur in the
future are forward-looking statements. Forward-looking statements are statements
that are not historical facts and are generally, although not always, identified
by words such as &#147;expect&#148;, &#147;plan&#148;, &#147;anticipate&#148;, &#147;project&#148;, &#147;target&#148;,
&#147;potential&#148;, &#147;schedule&#148;, &#147;forecast&#148;, &#147;budget&#148;, &#147;estimate&#148;, &#147;intend&#148; or &#147;believe&#148;
and similar expressions or their negative connotations, or that events or
conditions &#147;will&#148;, &#147;would&#148;, &#147;may&#148;, &#147;could&#148;, &#147;should&#148; or &#147;might&#148; occur. All such
forward-looking statements are based on the opinions and estimates of management
as of the date such statements are made.</i></P>
<P align=center>7 </P>
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<P align=justify><I>Forward-looking statements necessarily involve assumptions,
risks and uncertainties, certain of which are beyond B2Gold&#146;s control, including
risks associated with the volatility of metal prices and the Company&#146;s common
shares; risks and dangers inherent in exploration, development and mining
activities; uncertainty of reserve and resource estimates; risk of not achieving
production, cost or other estimates; risk that actual production, development
plans and costs differ materially from the estimates in the Company&#146;s
feasibility studies; the ability to obtain and maintain any necessary permits,
consents or authorizations required for mining activities; uncertainty about the
outcome of negotiations with the Government of Mali; risks related to
environmental regulations or hazards and compliance with complex regulations
associated with mining activities; the ability to replace mineral reserves and
identify acquisition opportunities; unknown liabilities of companies acquired by
B2Gold; ability to successfully integrate new acquisitions; fluctuations in
exchange rates; availability of financing; risks related to financing and debt,
including potential restrictions imposed on the Company&#146;s operations as a result
thereof and the ability to generate sufficient cash flows; risks related to
operations in foreign and developing countries and compliance with foreign laws,
including those associated with operations Mali, Namibia, the Philippine,
Nicaragua and Burkina Faso and including risks related to changes in foreign
laws and changing policies related to mining and local ownership requirements;
risks related to remote operations and the availability of adequate
infrastructure, fluctuations in price and availability of energy and other
inputs necessary for mining operations; shortages or cost increases in necessary
equipment, supplies and labour; regulatory, political and country risks
including local instability or acts of terrorism and the effects thereof; risks
related to reliance upon contractors, third parties and joint venture partners;
risks related to lack of sole decision-making authority related to Filminera
Resources Corporation, which owns the Masbate Project; challenges to title or
surface rights; dependence on key personnel and ability to attract and retain
skilled personnel; the risk of an uninsurable or uninsured loss; adverse climate
and weather conditions; litigation risk; competition with other mining
companies; changes in tax laws; community support for the Company&#146;s operations
including risks related to strikes and the halting of such operations from time
to time; risks related to conflict with small scale miners; risks related to
failures of information systems or information security threats; the final
outcome of the audit by the DENR in relation to the Masbate Project; ability to
maintain adequate internal control over financial reporting as required by law,
including Section 404 of the Sarbanes-Oxley Act; risks related to compliance
with anti-corruption laws; as well as other factors identified and as described
in more detail under the heading &#147;Risk Factors&#148; in B2Gold&#146;s most recent Annual
Information Form, the Company&#146;s current Form 40-F Annual Report and B2Gold&#146;s
other filings with Canadian securities regulators and the U.S. Securities and
Exchange Commission (the &#147;SEC&#148;), which may be viewed at www.sedar.com and
www.sec.gov, respectively (the &#147;Websites&#148;). The list is not exhaustive of the
factors that may affect the Company&#146;s forward-looking statements. There can be
no assurance that such statements will prove to be accurate, and actual results,
performance or achievements could differ materially from those expressed in, or
implied by, these forward-looking statements. Accordingly, no </I><i>assurance can be given that any events anticipated by the
forward-looking statements will transpire or occur, or if any of them do, what
benefits or liabilities B2Gold will derive therefrom. The Company&#146;s
forward-looking statements reflect current expectations regarding future events
and operating performance and speak only as of the date hereof and the Company
does not assume any obligation to update forward-looking statements if
circumstances or management's beliefs, expectations or opinions should change
other than as required by applicable law. The Company's forward-looking
statements are based on the applicable assumptions and factors management
considers reasonable as of the date hereof, based on the information available
to management at such time. These assumptions and factors include, but are not
limited to, assumptions and factors related to the Company's ability to carry on
current and future operations, including development and exploration activities;
the timing, extent, duration and economic viability of such operations,
including any mineral resources or reserves identified thereby; the accuracy and
reliability of estimates, projections, forecasts, studies and assessments; the
Company&#146;s ability to meet or achieve estimates, projections and forecasts; the
availability and cost of inputs; the price and market for outputs, including
gold; the timely receipt of necessary approvals or permits; the ability to meet
current and future obligations; the ability to obtain timely financing on
reasonable terms when required; the current and future social, economic and
political conditions; and other assumptions and factors generally associated
with the mining industry. For the reasons set forth above, undue reliance should
not be placed on forward-looking statements. </i></P>
<P align=center>8 </P>
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<P align=justify><B><I>Non-IFRS Measures<BR></I></B><I>This news release
includes certain terms or performance measures commonly used in the mining
industry that are not defined under International Financial Reporting Standards
(&#147;IFRS&#148;), including &#147;cash operating costs&#148;,&#147;all-in sustaining costs&#148; (or &#147;AISC&#148;)
and &#147;free cash flow&#148;. Non-IFRS measures do not have any standardized meaning
prescribed under IFRS, and therefore they may not be comparable to similar
measures employed by other companies. The data presented is intended to provide
additional information and should not be considered in isolation or as a
substitute for measures of performance prepared in accordance with IFRS and
should be read in conjunction with B2Gold&#146;s consolidated financial statements.
Readers should refer to B2Gold&#146;s management discussion and analysis, available
on the Websites</I><I><U><FONT color=#0000ff>,</FONT></U></I><I> under the
heading &#147;Non-IFRS Measures&#148; for a more detailed discussion of how B2Gold
calculates certain such measures and reconciliation of certain measures to IFRS
terms. </I></P>
<P align=justify><B><I>Cautionary Note to United States Investors
<BR></I></B><I>The disclosure</I> <I>in this news release was prepared in
accordance with Canadian National Instrument 43-101 (&#147;NI 43-101&#148;), which differs
significantly from the requirements of the SEC set out in Industry Guide 7.
Accordingly, such disclosure may not be comparable to similar information made
public by companies that report in accordance with U.S. standards. In
particular, this news release may refer to &#147;mineral resources&#148; or &#147;inferred
mineral resources&#148;. While these categories of mineralization are recognized and
required by Canadian securities laws, they are not recognized by the SEC and are
not normally permitted to be disclosed in SEC filings by U.S. companies. U.S.
investors are cautioned not to assume that any part of a &#147;mineral resource&#148; or
&#147;inferred mineral resource&#148; will ever be converted into a &#147;reserve.&#148; In
addition, &#147;reserves&#148; reported by the Company under Canadian standards may not
qualify as reserves under SEC standards. Under SEC standards, mineralization may
not be classified as a &#147;reserve&#148; unless the mineralization can be economically
and legally extracted or produced at the time the &#147;reserve&#148; determination is
made. Accordingly, information contained or referenced in this news release
containing descriptions of the Company&#146;s mineral deposits may not be compatible
to similar information made public by U.S. companies subject to the reporting
and disclosure requirements of U.S. federal securities laws, rules and
regulations. &#147;Inferred mineral resources&#148; have a great amount of uncertainty as
to their existence and great uncertainty as to their economic and legal
feasibility. It cannot be assumed that all or any part of an inferred mineral
resource will ever be upgraded to a higher category. Historical results or
feasibility models presented herein are not guarantees or expectations of future
performance.</I><B><I> </I></B></P>
<P align=center>9 </P>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
