Both the firms have agreed for the exchange ratio of 0.23 B2Gold shares plus a cash payment of $0.001, for each Auryx share held, which represents a purchase price of approximately C$0.88 per Auryx share.
The new entity will hold 92% interest in the Otjikoto gold project and a 100% interest in two additional exploration projects in Namibia.
The Otjikoto gold project has forecast average annual production of over 100,000 ounces of gold, with mine life of ten years.
B2Gold president and CEO Clive Johnson said that the Otjikoto project is a quality asset that can potentially contribute another 100,000 ounces of annual gold production to B2Gold’s production growth profile.
