Canada-based exploration company Rupert Resources on Monday confirmed that it was in preliminary discussions with B2Gold regarding the purchase of its 70% interest in a joint venture (JV) in Finland.
The JV between B2Gold and Aurion Resources owns properties in the central Lapland greenstone belt in northern Finland.
Rupert noted that no definitive agreement had been reached and that there could be no assurance that any such agreement would be forthcoming.
According to a statement by Aurion, Rupert would issue to B2Gold 28.64-million shares, implying a total value of C$102.8-million for its 70% interest in the JV.
Aurion holds a right of first refusal (ROFR) with respect to the proposed sale by B2Gold of its interest in the JV company. The ROFR provides Aurion with the right to acquire B2Gold’s interest in the JV upon terms no less favourable than those offered by Rupert. Aurion has until May 9 to decide whether it will exercise its ROFR.