What's Going On With B2Gold Shares Friday?
Portfolio Pulse from Nabaparna Bhattacharya
B2Gold Corp (AMEX:BTG) shares are trading lower after the company sold 79 million common shares of Calibre Mining Corp., reducing its ownership to less than 10%. B2Gold also announced an initial Inferred Mineral Resource Estimate for the Springbok Zone and a deal with Sandbox Royalties, now Versamet Royalties Corporation, for a 33% equity interest.
June 21, 2024 | 4:08 pm
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B2Gold shares are trading lower after selling 79 million shares of Calibre Mining, reducing its ownership to less than 10%. The company also announced a new mineral resource estimate and a deal with Versamet Royalties.
The sale of Calibre Mining shares and the reduction in ownership could be perceived negatively by investors, leading to a short-term decline in BTG's stock price. Additionally, while the new mineral resource estimate and the deal with Versamet Royalties are positive developments, they may not immediately offset the negative sentiment from the share sale.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100