SGSVF - Sabina shareholders approve proposed B2Gold takeover

2023-04-12 14:55:53 ET

Sabina Gold & Silver ( OTCQX:SGSVF ) said shareholders voted Wednesday to approve the proposed acquisition of the company by B2Gold ( NYSE: BTG ), and the deal is now expected to close by April 19.

As an all share-based transaction, the implied value of the offer is C$2.20/share, or C$1.2B, at Tuesday's close.

The deal includes Sabina's ( OTCQX:SGSVF ) Goose project in Nunavut, which is expected to average 223K oz gold/year over a 15-year life of mine from 3.6M oz of mineral reserves averaging 5.97 g/t gold.

The Sabina Gold & Silver ( OTCQX:SGSVF ) acquisition seems like a good fit for B2Gold ( BTG ) as it will boost reserves and improve the jurisdictional risk, Bang For The Buck writes in an analysis published recently on Seeking Alpha .

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