George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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This line may give us some hope?
Or am I simply desperate?
With Calibre and the combined Nicaraguan management team focusing on these mines and other opportunities in the country,
https://www.zacks.com/stock/news/567713/b2gold-concludes-sale-of-nicaragua-assets-to-calibre-mining
Not sure that your opening statement is altogether accurate simms. B2 are now Calibres largest shareholder with over 28%, so they haven't quite washed their hands of the Nicaraguan assets.
Let's see what happens now.
looks that B2Gold have washed their hands of Nicaragua asset. lets see how things unfold over the coming months as Calibre are going to be hell bent on cashflow having bought a loss making mine. They must have a few tricks up their sleeve and one of those could fall into the hands of Condor. Regardless i am hopeful the land purchases are close to being over the line and Nicaragua Mining who recently took a large stake will be lining up some plans to toll mine and/or develop the mine. Slowly but surely.
B2Gold Completes the Sale of Nicaragua Assets to Calibre Mining Corp.
VANCOUVER, Oct. 15, 2019 /CNW/ - B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) ("B2Gold" or the "Company") announces today that it has completed the sale of El Limon and La Libertad Gold Mines, the Pavon Gold Project and additional mineral concessions in Nicaragua (collectively, the "Nicaragua Assets") to Calibre Mining Corp. ("Calibre") for aggregate consideration of US$100 million (the "Transaction"), subject to adjustment for working capital under the share purchase agreement for the Transaction. Pursuant to the terms of the Transaction, B2Gold received on closing an aggregate of 87,986,666 common shares of Calibre ("Calibre Shares"), representing approximately 28.35% of the issued and outstanding Calibre Shares on closing, US$40 million in cash, a US$10 million convertible debenture (the "Debenture"), and will receive an additional cash payment of US$10 million on October 15, 2020 (the "Additional Payment") (which Additional Payment may at B2Gold's option be settled in Calibre Shares based on the five-day volume weighted average price of Calibre Shares at the time of such payment and provided it does not result in B2Gold holding over 31% of the issued and outstanding Calibre Shares). The principal amount owing under the Debenture will bear interest at 2% and will be payable in cash on October 15, 2021, and is convertible at a rate of CDN$0.75 per Calibre Share. The Debenture will be a direct, unsecured obligation of Calibre, ranking equally with all other existing and future unsecured indebtedness of Calibre and will be a non-voting security.
"We are pleased to join forces with Calibre in Nicaragua to continue our legacy of ten years of responsible exploration, development and gold production. We are pleased to become Calibre's largest shareholder and through our roles on their Advisory Board and Board of Directors, we look forward to assisting Calibre's experienced executive team and the combined B2Gold/Calibre management team in Nicaragua," said Clive Johnson, B2Gold's President and Chief Executive Officer.
Interested to see how calibre sp fares when they return and the m cap in relation to the $ 100 m.
They had a mcap around £15 m previously virtually identical to Cnr at the time.
Prior to the takeover by Calibre a heads of term agreement had been reached with the B2Gold team in country.
Hopefully this is what MC discussed with Calibre CEO CFO in Denver. It will be interesting to see if this now flies. Can see the benefits to both parties in the short term . Eg next 2 years whilst both businesses move towards their end games, let’s hope egos do not get in the way of potentially a good deal
Trading commences in Calibre shares on 21 October. The company will be listed on the main Toronto exchange. That should increase liquidity.
I would expect to see trading in Calibre shares resume in the coming days on completion of the transaction with B2Gold. Hopefully talks with Mark can then take place re any toll agreement.
for indirect acquisition by the Company from B2Gold Corp. (“B2Gold”) of certain assets and subsidiaries of B2Gold holding a 100% interest in the El Limon Mine, the La Libertad Mine and the Pavon Gold Project.
http://www.globenewswire.com/news-release/2019/10/09/1927200/0/en/Calibre-Mining-Announces-Voting-Results-from-Annual-General-and-Special-Shareholder-Meeting-Announces-New-Leadership-Team.html