Company news in brief
B2Gold eyes stake in Forsys’ Ondundu
Forsys Metals Corp. has signed an earn-in agreement with B2Gold Namibia whereby the latter can earn up to a 100% interest in the Ondundu Gold Project in Namibia.
The Ondundu Gold Project is 70% owned by Forsys, who also fully owns the Norasa project in Namibia, comprising of the fully permitted Valencia uranium project and the Namibplaas uranium project.
In terms of the agreement B2Gold, as project managers, will have the right to acquire 25% of Ondundu for a committed spend of US$900 000 or about N$17 million in the first 12 months.
If B2Gold exercise their first right, in the second 12 months they will spend a further US$1.1 million or about N$20 million to acquire an additional 24% interest in Ondundu.
If B2Gold exercise their second right, they may spend a further US$1.3 million or around N$25 million to acquire an additional 26% interest in Ondundu in the third 12 months; bringing the total interest to 75%.
B2Gold and Forsys may separately exercise a call or put option to transfer the balance of Ondundu for US$8.5 million or about N$161 million after 24 months or 36 months respectively.
Forsys chief executive Marcel Hilmer said the earn-in with B2Gold will ensure that there is a strong financial commitment to develop Ondundu. "We look forward to working with B2Gold to successfully progress the Ondundu project".
Antler Gold expands in Namibian ‘Gold Corridor’
Canadian-listed Antler Gold Inc. has been awarded two additional exploration licenses by the mines and energy ministry in Namibia, pending issuance of environmental clearance.
The two newly-awarded licenses, EPL-9134 and EPL-9135, expand the Paresis Gold Project land package to around 812 km² within the highly prospective emerging Damara Gold Province or so-called ‘gold corridor’ of Namibia, Antler said in a statement.
In addition to the new licences, Antler’s two EPLs in the Erongo Gold Project, bordering the Twin Hills Gold Project of Osino Resources-Yintai Gold Corp., has been renewed for another two years.
“With access to roughly 2 000 km² in the central and northern zones of the Damara Belt, Antler is strategically positioned to explore the significant potential of this region,” Antler CEO Christopher Drysdale said.
“Additionally, the renewal of EPL-8010 and EPL-6408 solidifies our Erongo Gold Project, providing contiguous land adjacent to the Twin Hills Gold Project recently acquired by Yintai Gold Corp. for C$368 million in an all-cash deal.
“Our commitment remains in maximising shareholder value through strategic partnerships and ongoing exploration efforts,” Drysdale added.
- Compiled by Jo-Maré Duddy
Forsys Metals Corp. has signed an earn-in agreement with B2Gold Namibia whereby the latter can earn up to a 100% interest in the Ondundu Gold Project in Namibia.
The Ondundu Gold Project is 70% owned by Forsys, who also fully owns the Norasa project in Namibia, comprising of the fully permitted Valencia uranium project and the Namibplaas uranium project.
In terms of the agreement B2Gold, as project managers, will have the right to acquire 25% of Ondundu for a committed spend of US$900 000 or about N$17 million in the first 12 months.
If B2Gold exercise their first right, in the second 12 months they will spend a further US$1.1 million or about N$20 million to acquire an additional 24% interest in Ondundu.
If B2Gold exercise their second right, they may spend a further US$1.3 million or around N$25 million to acquire an additional 26% interest in Ondundu in the third 12 months; bringing the total interest to 75%.
B2Gold and Forsys may separately exercise a call or put option to transfer the balance of Ondundu for US$8.5 million or about N$161 million after 24 months or 36 months respectively.
Forsys chief executive Marcel Hilmer said the earn-in with B2Gold will ensure that there is a strong financial commitment to develop Ondundu. "We look forward to working with B2Gold to successfully progress the Ondundu project".
Antler Gold expands in Namibian ‘Gold Corridor’
Canadian-listed Antler Gold Inc. has been awarded two additional exploration licenses by the mines and energy ministry in Namibia, pending issuance of environmental clearance.
The two newly-awarded licenses, EPL-9134 and EPL-9135, expand the Paresis Gold Project land package to around 812 km² within the highly prospective emerging Damara Gold Province or so-called ‘gold corridor’ of Namibia, Antler said in a statement.
In addition to the new licences, Antler’s two EPLs in the Erongo Gold Project, bordering the Twin Hills Gold Project of Osino Resources-Yintai Gold Corp., has been renewed for another two years.
“With access to roughly 2 000 km² in the central and northern zones of the Damara Belt, Antler is strategically positioned to explore the significant potential of this region,” Antler CEO Christopher Drysdale said.
“Additionally, the renewal of EPL-8010 and EPL-6408 solidifies our Erongo Gold Project, providing contiguous land adjacent to the Twin Hills Gold Project recently acquired by Yintai Gold Corp. for C$368 million in an all-cash deal.
“Our commitment remains in maximising shareholder value through strategic partnerships and ongoing exploration efforts,” Drysdale added.
- Compiled by Jo-Maré Duddy
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