Vancouver-based gold mining company B2Gold Corp. said Tuesday it is paying about $155 million in cash and stock to buy Auryx Gold Corp.
The combination of B2Gold and Auryx will result in a merged entity holding a 92 percent interest in the Otjikoto gold project in Namibia and a 100 percent interest in two additional exploration projects in Namibia.
The Otjikoto gold project has forecast average annual production of over 100,000 ounces of gold over a ten-year life of mine based on a preliminary economic assessment released last month.
Shares of B2Gold fell 5.46 percent in afternoon trading.
