Artemis awards $186m EPC contract for Blackwater plant in British Columbia

Owner Havilah Resources said the decision secures the company's right to mine Kalkaroo.

The Canadian miner reported that seven of 23 chip samples returned grades ranging from 155.27g/t gold to 2.94g/t gold.

The Canadian miner said its long-term growth strategy focus on developing its existing pipeline of projects, while seeking global exploration opportunities.

If the transaction with owner Metallon Corp. is concluded, B2Gold will invest $150 million to $200 million developing the Shamva gold mine.

Ongoing stoppages at Newmont Goldcorp's Penasquito mine in Mexico are costing both public coffers in the country and the company millions.

Once at full-tilt, the open-pit operation is expected to generate 65,000 ounces of gold annually over an 8-year mine life.

The company also holds ten other properties on the Carlin, Independence and Northern Nevada Rift gold trends.

Gold miners have for years been accused of eroding profits through expensive deals but the takeovers of Randgold by Barrick and Goldcorp by Newmont have spurred speculation about a pick up in long-dormant gold M&A.

Gold deliveries to central bank unit Fidelity Printers and Refiners, which buys all the country's gold, declined to 6.5 tonnes from 7.3 tonnes during the January-March quarter.