In breaking news Monday, B2Gold Corp. (TSX: T.BTO, Stock Forum) B2Gold Corp. announced details of a bought deal financing, saying that it has entered into an agreement with a syndicate of underwriters who have agreed to purchase 33,340,000 common shares of B2Gold at 75 cents per share, for gross proceeds of $25 million.
B2Gold says that the net proceeds of the offering will be used to fund the continued development of its Nicaraguan assets and continued exploration expenditures in Colombia and Russia, and for working capital and general corporate purposes.
Also on Monday, Radius Gold (TSX: V.RDU, Stock Forum) announced that it has granted B2Gold an option to acquire an interest in its mineral property portfolio in Nicaragua.
The company says the agreement with B2Gold consists of three parts, including a 60% interest in the Trebol, Pavon and San Pedro properties by spending $4 million on exploration within four years, an option to put the Pavon Resource property into production within three years, as well as an interest in regional exploration projects.
The news follows last week’s announcement from Calibre Mining Corp. (TSX: V.CXB, Stock Forum), which said that B2Gold has executed a letter of intent with Calibre for an option to acquire up to a 65% interest in the NEN Gold-Copper property in Nicaragua.
Shares of B2Gold were down 5% to 76 cents Monday.
On the company’s Bullboard, ResearchR1 provided the following synopsis from the company’s AGM last week:
From the AGM a few items:
1. Plans to talk to Government about restarting Bellavista Mine. Wants to look at constructing a Mill to process the ore from Bellavista. Apparently heap leaching was the wrong technology to use with the ore. Thinks there is potential for turning Bellavista into an 80,000 opy producer.
2. Will announce, this weekend, JV deals with Radius Gold on other properties in Nicaragua. [ Looks like BTO is consolidating its position as THE major miner in the country. Radius is the major holder of exploration properties in Nicaragua. ]
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