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B2Gold and AngloGold Ashanti to Amend Ownership and Management of the Gramalote Project, Colombia
B2Gold and AngloGold Ashanti to Amend Ownership and Management of the Gramalote Project, C...
About this update from B2gold Corp.
[{"type":"text","content":"\n\n\n\nB2Gold and AngloGold Ashanti to Amend Ownership and Management of the Gramalote Project, Colombia\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 0pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Sept. 16, 2019\n\n\n\nVANCOUVER, Sept. 16, 2019 /CNW/ - B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) (\"B2Gold\" or the \"Company\") is pleased to announce that the Company and AngloGold Ashanti Limited (\"AngloGold\") have agreed in principle to terms relating to the parties' respective ownership percentages and future management of the joint venture on the Gramalote gold project in Colombia. The companies have agreed that B2Gold will sole fund the next $13.9 million of expenditures on the Gramalote Project (the \"Sole Fund Amount\"), following which B2Gold will hold a 50% ownership interest in the joint venture (B2Gold currently holds a 48.3% interest). Under the amended terms, AngloGold and B2Gold will each hold a 50% interest and B2Gold will start an immediate transition to become manager of the Gramalote joint venture by the end of 2019, conditional upon the parties entering into an amended and restated shareholders agreement. The parties will continue to have equal representation on the joint venture management committee. Following the expenditure of the Sole Fund Amount, each joint venture partner will fund its share of expenditures pro rata.\nB2Gold and AngloGold have also agreed on a budget for the feasibility study on the Gramalote Project up to $40 million for the remainder of 2019 and through the end of 2020. This budget will fund 42,500 metres of infill drilling and 7,645 metres of geotechnical drilling for site infrastructure. The Company currently expects to complete all drilling by the end of May 2020. In addition, the budget ...