https://www.engineeringnews.co.za

B2Gold brings Calibre Mining on board at its Nicaragua gold mines

B2Gold's La Libertad mine

B2Gold's La Libertad mine

2nd July 2019

By: Marleny Arnoldi

Online News Editor

     

Font size: - +

Gold miner B2Gold Corporation will sell its Nicaraguan assets to Calibre Mining Corporation in exchange for a holding in Calibre.

Calibre will acquire B2Gold’s producing El Limon and La Libertad gold mines, the Pavon gold project and additional mineral concessions held by B2Gold in Nicaragua, for $100-million in cash, common shares and a convertible debenture.

Following the transaction, B2Gold will own about a 31% direct equity interest in Calibre. 

B2Gold president and CEO Clive Johnson said in a statement on Tuesday that, with Calibre and the combined management team focusing on the El Limon and La Libertad mines, B2Gold would focus on continuing the optimisation of its existing mines in Mali, Namibia and the Philippines.

Calibre’s management team will include CEO Russel Ball, senior VP and COO Darren Hall, senior VP and CFO John Seaberg, exploration VP Greg Smith and corporate development VP Ryan King. The team will be assisted by Newmarket Gold founders, including Blayne Johnson and Douglas Forster, while B2Gold will nominate a board representative in due course.

Meanwhile, in connection with the transaction, Calibre has entered into an agreement with Canaccord Genuity Corporation and Sprott Capital Partners in respect of a private placement of up to 167-million subscription receipts for gross proceeds up to C$100-million.

Calibre intends to graduate to the TSX from its current TSX-V listing.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

ABB Electrification
ABB Electrification

Electrifying the world in a safe, smart, and sustainable way, ABB Electrification is a global technology leader in electrical distribution and...

VISIT SHOWROOM 
Rio-Carb
Rio-Carb

Rio Carb is an OEM (Original Equipment Manufacturer) of R-C700 Chromium Carbide (CrC) alloy clad wear plates and pipes used for heavy materials...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (05/06/2026)
5th June 2026 By: Martin Creamer
Magazine round up | 05 June 2026
Magazine round up | 05 June 2026
5th June 2026

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.149 0.188s - 140pq - 2rq
Subscribe Now