B2Gold (BTO.TO, NYSEMKT:BTG) has announced it has exercised 10M warrants at C$0.05 in Calibre Mining (CXB.V). This means that B2Gold’s stake in the junior exploration company has increased to just over 15% (up from 10.6%), and that Calibre experienced a cash inflow of C$500,000.
This indicates B2Gold is quite happy with the progress and the results in Nicaragua where both companies have entered into a Joint Venture agreement to jointly explore the Primavera and Minnesota concessions. Calibre is quite active in the country as it also closed joint venture deals with IAMgold (IMG.TO, NYSE:IAG) and Alder Resources (ALR.V). On top of that, Calibre owns 100% of the Cerro Aeropuerto project which contains just over 700,000 ounces of gold and 3Moz silver and is located just 1000 meters on strike from the past producing La Luz mine.
2014 could be a very promising year for Calibre as the company is advancing on all fronts. The C$500,000 cash inflow will certainly be helpful as the company had a working capital position of just C$950,000 as of at the end of the first quarter of this year.
Disclosure: The author holds no position in any of the companies mentioned. Please see our disclaimer for current positions.
