B2Gold (TSX: BTO) has received an offer for its joint venture interest in certain Finnish assets that it jointly holds with Aurion Resources (TSXV: AU).
The disclosure of the offer came from Aurion, whom this morning revealed that B2Gold had informed them of the offering. The offer comes from Rupert Resources (TSX: RUP), who intends to pay C$102.8 million for B2Gold’s 70% interest in the joint venture. Consideration would come in the form of shares, with 28.6 million to be issued.
Aurion has a right of first refusal, which enables Aurion to acquire the ownership stake on substantially the same terms as what was offered by Rupert. The company has until May 9 to exercise such right.
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The transaction meanwhile is said to be conditional upon a definitive agreement and an investor rights agreement being entered in to.
The joint venture currently covers 293 square kilometres of land claims along the Sirkka Shear Zone within the Central Lapland Greenstone belt. The project, currently operated by B2Gold, has had multiple discoveries, including the Helmi discovery that was made in 2021, intersecting 2.05 g/t gold over 77.5 metres from 41.7 metres depth.
B2Gold last traded at $3.56 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. 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.
