Mineral Exploration

Clive Johnson 20 S P R I N G 2 0 1 6 Photographs : Velour Produc tions /AME BC As a founder of Eldorado and through- out his management roles with Bema and B2Gold, Johnson has raised approxi- mately $5 billion through a combina- tion of equity and debt financings. The capital raised has helped turn Bema and B2Gold from junior explorers into inter- mediate mining companies and, in the process, helped to create thousands of jobs that brought wealth to numerous communities worldwide. This is a truly amazing accomplishment regardless of timing in the commodity cycle and, as such, distinguishes Johnson as a worthy recipient of the award. Johnson's formal education began at university but soon took an alterna- tive path: running a bush crew stak- ing claims in Yukon. After a few years, Johnson got together with a few partners and started a mining company, which, through an amalgamation with several other companies, ultimately became Bema Gold Corp. Upon this amalga- mation, Johnson was appointed presi- dent and CEO and never looked back. Some of his early work at Bema included raising capital for the construction of the Champagne Mine in Idaho during 1989, in very tough market conditions. Johnson was successful in raising $5 mil- lion for this purpose, and the mine was completed and operational the next year. Bema subsequently continued to finance and develop mines and fund explora- tion in Canada, Chile, Venezuela, South Africa and Russia. Some of the more notable projects in which Bema was involved included Refugio, Cerro Casale and Julieta. This culminated in Bema securing the high-grade Kupol gold project in Russia, for which it raised over $500 million from 2003 to 2006 and built the mine a full year ahead of schedule. In 2006, Bema was acquired by Kinross Gold Corp. for $3.5 billion. Following his involvement with Bema, Johnson managed to keep most of his team together and co-founded B2Gold Corp. in 2007, for which they raised $100 million in an IPO. A year later, B2Gold made a takeover offer on a distressed company, Central Sun Mining Inc., with assets in Nicaragua. B2Gold subsequently developed two mines in Nicaragua, La Libertad and El Limon, which formed the backbone of cash flows that allowed the company to make the subsequent acquisitions of Auryx Gold Corp. and CGA Mining Ltd., in addition to the associated investments required to develop the assets they acquired. Johnson's perseverance and success in financing mineral exploration has enabled him to build two multibillion- dollar gold-mining companies from scratch while operating in regions that would test the best-run businesses. Johnson and his team's legacy continues Omega Communications.indd 1 15-02-05 9:25 AM

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