https://www.miningweekly.com

B2Gold Corp buys advanced West African gold project

29th October 2013

By: Henry Lazenby

Creamer Media Deputy Editor: North America

  

Font size: - +

TORONTO (miningweekly.com) – Vancouver-based B2Gold has signed a binding agreement to buy TSX-listed Volta Resources, acquiring an advanced gold project and two exploration projects in Burkina Faso.

Triple-listed B2Gold on Monday said its offer valued Volta's equity at $63-million, more than double Volta’s recent market value.

Under the deal, B2Gold offered 0.15 shares for each Volta share, representing a purchase price of about $0.42 per Volta share based on Friday's closing price.

B2Gold said Volta's Kiaka gold project, in Burkina Faso, had the potential to produce on average 340 000 oz/y of gold.

Volta owns an 81% stake in Kiaka and 100% of two exploration projects in the same country. The Kiaka gold project has a potential ten-year mine life.

“This acquisition significantly enhances our gold leverage with the addition of Kiaka gold project,’’ B2Gold president and CEO Clive Johnson said.

“In a difficult market where financing of development-stage gold companies has become increasingly challenging, we are very pleased to be partnering with an intermediate gold producer that has both the financial and technical capabilities to advance Kiaka for the benefit of Volta shareholders,” Volta president and CEO Kevin Bullock said.

Volta's stock more than doubled to C$0.40 apiece on Monday and that of B2Gold also rose on the same day.

Edited by Creamer Media Reporter

Comments

Latest News

The integration of Alamos' Island Gold mine (pictured) and Argonaut's Magino mine will create synergies of $515-million.
Alamos buys rival Argonaut
27th March 2024 By: Mariaan Webb
Ironveld smelter
Ironveld ramp-up slower than expected
28th March 2024 By: Darren Parker

Showroom

John Deere (Pty) Ltd
John Deere (Pty) Ltd

In 1958 John Deere Construction made its first introduction to the industry with their model 64 bulldozer.

VISIT SHOWROOM 
Stewarts & Lloyds
Stewarts & Lloyds

Stewarts & Lloyds today supplies steel and tube, pipe and fittings, valves, pumps, irrigation, fencing, profiling and roofing products. The cash...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.102 0.134s - 88pq - 2rq
Subscribe Now