My Favorite Gold Mining Stock (Patreon)

B2Gold (ticker: BTG) is my favorite gold mining stock on the market.

The company executed a strategic financing arrangement in early 2024 that positions it to substantially increase its revenue and profit.

In January 2024, BTG received $500 million cash from its bank lenders and in return, they committed to deliver 264,768 ounces of gold back to the lenders between July 2025 and June 2026. These deliveries are to be made in equal monthly installments at a fixed price of $2,191 per ounce.

Yes, it’s terrible that BTG needs to sell 264,768 ounces of gold to their lenders for $2,191 per ounce when the spot price is ~$4,000 an ounce. However, it can be seen as a necessary evil to fuel revenue growth and expansion.

BTG allocated these proceeds toward construction of its new Goose Mine in Canada, which allowed them to avoid both equity dilution and traditional debt financing.

Goose Mine in Canada achieved their first gold production on June 30th, 2025, and reached commercial production on October 2nd, 2025.

The company forecasts Goose Mine to have:

• 80,000 to 110,000 ounces of gold production in 2025

• 250,000 ounces of gold production in 2026

• 330,000 ounces of gold production in 2027

BTG’s total gold production is forecasted between 970,000 and 1,075,000 ounces in 2025.

After June 2026, BTG will be clear of their obligation to deliver those ounces of gold for $2,191. In other words, Q3 2026 is when BTG will have their first full quarter free of that obligation. Q3 2026 results will be released around November of 2026.

I intend to maintain my position in BTG until Q2 2027, at which point, I believe the stock valuation will more properly reflect higher production volume and higher gold prices flowing to their net income.

Please remember, stay diversified, no matter how promising a stock looks, and do your own due diligence. But this should be a good starting point for you to do your own research.