[miningmx.com] – VANCOUVER-based mining firm B2Gold Corporation has bid $570m for Australia’s Papillon Resources as it seeks control of the firm’s Mail gold mine, Fekola, said Bloomberg News citing a company announcement.
The Fekola mine will be B2Gold’s fourth acquisition after buying the previous three in three years including the Otjikoto project in Namibia. B2Gold’s total production last year was 366,000 ounces.
Mark Connelly, CEO of Papillon, said in a statement that the proposed transaction with B2Gold “… provides Papillon shareholders with the opportunity to gain immediate exposure to a significant, growth orientated and profitable producer with diversified operations whilst still retaining material exposure to the upside potential of Fekola”.
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