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B2Gold completes acquisition of Oklo, secures extensive land package near Fekola mine

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(Kitco News) - B2Gold (TSX: BTO) (NYSE: BTG) announced today that it has completed the acquisition of Oklo Resources (ASX: OKU).

The company said it has acquired 100% of the fully paid ordinary shares of Oklo in consideration for 0.0206 of a common share of B2Gold and A$0.0525 in cash for each Oklo share held.

B2Gold added that on closing, the company issued 10,742,814 B2Gold shares to Oklo shareholders, representing approximately 1% of the B2Gold shares on an undiluted basis, and paid aggregate cash consideration of approximately A$27.4 million to Oklo shareholders.

"The acquisition of Oklo provides B2Gold with an additional landholding of 1,405 km2 covering highly prospective greenstone belts in Mali, West Africa, including the Dandoko project (550 km2), which now forms part of the Fekola mining complex," the company noted in a statement.

In March 2021, Oklo delivered an initial JORC 2012 compliant measured and indicated mineral resource estimate for the Dandoko project of 8.70 million tonnes at 1.88 grams per tonne ("g/t") for 528,000 ounces of gold and an inferred mineral resource estimate of 2.63 million tonnes at 1.67 g/t for 141,000 ounces of gold.

"Dandoko's mineral resources are distributed across the Seko, Koko, Disse and Diabarou deposits, all of which remain open and are expected to grow with ongoing exploration drilling both along strike and at depth," B2Gold said.

Importantly, B2Gold believes that the Oklo resource has similar metallurgical characteristics to the Fekola resources and would be amenable to processing at B2Gold's Fekola mill.

The company expects that a diamond drill rig dedicated to the Dandoko project will be on site by October 2022, with the objective of completing up to 4,000 meters of combined metallurgical and geotechnical drilling and the initial phase of strategic exploration drilling.

B2Gold is an international senior gold producer headquartered in Vancouver, Canada. Founded in 2007, today, B2Gold has operating gold mines in Mali, Namibia and the Philippines and numerous exploration and development projects in various countries including Mali, Colombia, Finland and Uzbekistan. B2Gold forecasts total consolidated gold production of between 990,000 and 1,050,000 ounces in 2022.


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