Barrick says Ontario Superior Court dismisses 2022 Tanzanian security case
A group of 21 Tanzanian nationals had alleged that Barrick was complicit in extrajudicial killings by police guarding its North Mara mine.
B2Gold will acquire the African junior Volta Resources in an all-stock deal.
After the deal was announced today Volta was up 98% to 40.5 cents a share.
Each Volta shareholder will get 0.15 B2Gold share for each Volta share. The total deal is valued at US$63 million. Volta’s board supports the deal.
B2Gold is paying an 81% premium based on B2Gold and Volta’s respective volume weighted average share prices on the TSX for the 20 trading day period ending October 25, 2013.
The acquisition of Volta will give B2Gold an 81% interest in the Kiaka gold project in Burkina Faso, Africa and a 100% interest in two additional exploration projects in Burkina Faso.
The Kiaka gold project is an advanced stage project with the potential to sustain an average annual production rate of approximately 340,000 ounces of gold over a 10 year mine life based on a Pre-Feasibility Study released in May 2012 and contained in Volta’s current independent technical report released in January 2013.
“Our team has looked at many projects over the last several years and Kiaka stood out as a technically strong asset with low technical risk that in the appropriate gold price environment could be one of B2Gold’s largest sources of future gold production,” said Clive Johnson, President and Chief Executive Officer of B2Gold.
B2Gold Corp. is a Vancouver based gold producer with two mines in Nicaragua, one mine in the Philippines and a strong portfolio of development and exploration assets in Nicaragua, the Philippines, Namibia and Colombia.
