Daily Metal Market News & Metal Prices
 
Daily Metal Prices & Market News
Tuesday 02nd of December 2008
Tuesday, May 20, 2008

AngloGold Ashanti to acquire 15.9% direct interest in B2Gold

AngloGold Ashanti to acquire 15.9% direct interest in B2Gold

AngloGold Ashanti Limited has completed the transaction with B2Gold Corp (B2Gold) as previously announced on 14 February 2008, under which:

AngloGold Ashanti’s existing right to receive 20% of the voting shares of B2Gold’s wholly-owned subsidiary, Andean Avasca Resources Inc. (AARI), has been terminated; their existing Colombian joint venture arrangements have been amended; and B2Gold has acquired from AngloGold Ashanti additional interests in certain mineral properties in Colombia that were not included in the original joint venture agreement.

In exchange, B2Gold issued to AngloGold Ashanti’s nominee 25 million common shares of B2Gold and 21.4 million share purchase warrants in B2Gold.

The exercise price of the warrants is Cdn$3.34 with respect to 11,000,000 warrants and Cdn$4.25 with respect to the balance of the 10,400,000 warrants.

Both tranches of warrants have a three-year term. Based on the 157,277,500 currently outstanding shares of B2Gold, AngloGold Ashanti will hold approximately 15.9% of B2Gold’s issued and outstanding shares.

AngloGold Ashanti’s fully diluted interest in B2Gold upon the exercise of the 21.4 million warrants will be approximately 26%.

AngloGold Ashanti’s purpose in effecting this transaction is to build on its Colombian strategy of continuing to leverage its first-mover advantage through developing its exploration projects, both in its own right and together with partners like B2Gold.

Through the transaction, it will acquire a direct interest in B2Gold that will provide AngloGold Ashanti with exposure to B2Gold’s global exploration programme, as well as participation in the underlying joint venture interests in Colombia that AngloGold Ashanti will retain with B2Gold.

 

Add to Bookmarks:

ADD TO NETSCAPE     ADD TO DEL.ICIO.US     ADD TO DIGG     ADD TO FURL

ADD TO STUMBLEUPON     ADD TO YAHOO MYWEB     ADD TO GOOGLE     ADD TO SPURL


Related posts to: AngloGold Ashanti to acquire 15.9% direct interest in B2Gold

AngloGold Ashanti acquire Golden Cycle Gold Corporation ...

AngloGold Ashanti to acquire 100% of São Bento ...

AngloGold Ashanti to restart production ...

AngloGold Ashanti leads Tier I stocks ...

BHP Billiton and AngloGold remain silent on DRC contract review ...

Latest Metals News:

Latest News  BHP Billiton scraps plans to acquire Rio

Latest News  Base metals see more price declines

Latest News  Copper prices fall on inventories, US housing data

Latest News  Copper, aluminium gain after early declines

Latest News  Gold drops half a dollar in New York

Latest News  Copper pares gains on US retail data

Latest News  Copper, aluminium inventories continue to climb

Latest News  Alcoa delays expansion at Wagerup and cuts production

Latest News  Platinum, palladium down on auto sector problems

Latest News  China’s stimulus plan sends most metals higher


Previous: « Base metals prices down on inventories
Next: Firstgold Corp. updates Pit area drilling »

Visited 1135 times, 4 so far today

Gold ($/troy ounce):

Silver ($/troy ounce):

Platinum ($/troy ounce):