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 .
For further details see:
Sabina shareholders approve proposed B2Gold takeover