B2Gold open to M&As, but not until 2026

B2Gold (TSX:BTO) (NYSE AMERICAN: BTG) is open to mergers and acquisitions, but may hold off until 2026, when management expects the market to assign greater value to its fully ramped-up Goose mine in Nunavut and the Fekola Regional project in Mali, CEO Clive Johnson said.

Johnson’s comments, shared this week at Forum Americas in Colorado Springs, come as B2Gold joins a sector seeing a surge of deal-making in 2025, with Australian and Canadian miners driving consolidation. 

Recent transactions include Equinox Gold’s merger with Calibre Mining, Northern Star’s purchase of De Grey Mining, and Torex Gold’s acquisition of Prime Mining. 

Analysts at Jefferies noted on Wednesday that B2Gold may be waiting until its shares are re-rated higher before pursuing any transactions.

Growing portfolio

The company said this week its Goose project had poured first gold in June, with commercial production…