GLTALongs. 12:28 PM EDT, 10/28/2021 (MT Newswires) -- Aurion Resources (AU.V) has signed a formal definitive option agreement with B2Gold Corp. (BTO.TO) granting B2Gold the right to earn up to a 75% interest in the 53 km2, Kuortis Property, which is 25 km south of Agnico-Eagle's (AEM.TO) Kittila Mine and adjacent to the existing JV property with B2Gold.
B2Gold can earn a 51% undivided interest in Kuortis by incurring at least $750,000 in exploration expenditures by the second anniversary of the agreement dated Oct 26, 2021; incurring exploration expenditures not less than $1.75 million by the fifth anniversary of the agreement date; and by issuing 25,000 B2Gold shares to Aurion.
B2Gold can acquire an additional 24% undivided interest in the property by completing the first option; issuing an additional 25,000 B2Gold shares; and incurring an additional $.5 million in exploration expenditures on or before the fifth anniversary.
Price: 0.93, Change: -0.03, Percent Change: -3.12