B2Gold Corp Insiders Sell $5.3 Million Worth Of Shares

B2Gold Corp (TSX: BTO) has seen insiders file several reports over the last several days related to insider positions, with two members of the executive team seen exercising options and then dropped the resulting shares on the market. The transactions took place over a period of five days, with a total of 600,000 common shares being disposed of on the public markets.

The first insider to conduct a transaction, Dennis Stansbury, Senior VP of engineering and project evaluations, exercised 300,000 options at a price of $1.12 per share on September 9, 2020. The shares were then sold the same day, at a price of $8.62 on the open market for gross proceeds of $2,586,000.

Insider Clive Johnson, CEO, President, and Director of the company was the second insider to conduct transactions in B2Gold’s shares this week, with the exercise of 300,000 options on September 14. At a price of $3.13 per share, Johnson spent $939,000 exercising the options. Shares were then sold in two separate transactions the same day, in two 150,000 share tranches. Gross proceeds of $2,682,480 were collected from the share sale.

Johnson currently retains a 3,373,303 share position in the company, valued at approximately $30.5 million based on the current price of the equity. Stansbury meanwhile retains 2,995,559 shares in the company, valued at $27.0 million.

B2Gold Corp last traded at $9.03 on the TSX.

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Information for this briefing was found via Sedar and B2Gold Corp. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.