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B2Gold buys partner out of mining properties in Nicaragua

Tuesday, April 10, 2012

Vancouver-based exploration firm Radius Gold found itself 20 percent more valuable on Monday after it announced B2Gold Corp agreed to buy the 40 percent of two gold joint ventures in Nicaragua the larger peer did not already own, for $20 million in stock.

B2Gold had already earned a 60 percent interest in the Trebol and El Pavon properties, located in central and north-east Nicaragua, by spending $4 million on exploration.

Under the binding agreement, the company will pay Radius $20 million in shares and $10 per ounce of gold that ends up in proven and probable reserves at the properties.

Source: Creamer's Mining Weekly