Monday, 28 October 2013

Junior Gold Mining M&A - B2 Gold to Buy Volta Resources

Growth Consolidator B2 Gold has announced another acquisition, Burkina Faso based Volta Resources.
In an all stock deal Volta is valued at approx $60-70m for a low grade 5m oz resource. .....more ......

However as discussed by Kip Keen at Mineweb BTO's due diligence may have focussed on a higher grade core.
“Our team has looked at many projects over the last several years and Kiaka stood out as a technically strong asset with low technical risk that, in the appropriate gold price environment, could be one of B2Gold’s largest sources of future gold production,” B2Gold president and CEO Clive Johnson said in a statement.
A May 2012 PFS by Tetra Tech (in full) outlining an approx $600m capex to produce an average 340k oz gold pa has not been enough to secure development finance independently to date.

There has been a great deal of exploration activity in Burkina Faso, as one of the apparently better African jurisdictions, over the past few years by both Canadian and Australian juniors. Volta does appear one of the larger and lowest valued per oz

Some West African miners and explorers are covered on the Regional Exploration Page

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