B2Gold Corp. and Auryx Gold set out exploration plans
WINDHOEK ? B2Gold Corp. and Auryx Gold Namibia last week announced their exploration and project development plans for 2012, now as a successfully merged business entity. The business combination between Auryx Gold Corp. and B2Gold was completed in December with overwhelming approval from Auryx investors and Namibian regulatory authorities. The combination resulted in B2Gold acquiring a 92% interest in the Otjikoto Gold Project and a 100% interest in two additional exploration projects.
The additional 8% of the Otjikoto Gold Project is owned by EVI Mining Ltd, a broad based black economic empowerment group, with whom B2Gold has reached an agreement to provide services and a permanent secondee to Auryx to ensure that input from EVI is included in all decisions.
?The business combination of B2Gold and Auryx Gold is very positive for both shareholders and the stakeholders in Namibia. B2Gold has identified the Otjikoto Gold Project as a key first step for developing a long-standing presence in Namibia and Africa,? states Clive Johnson, President and Chief Executive of B2Gold. B2Gold has been successful throughout the world by ensuring that local partnerships are a fundamental of the business model and that capacity development and technology transfer are the backbone of project development. B2 has developed, and maintains, excellent local involvement and community relations in all projects that are developed.
?B2Gold believes in developing projects that are sustainable and in a transparent manner with input from all stakeholders. In light of this, we are certain that with continued support we can develop the Otjikoto Gold Project and provide benefit to shareholders and community stakeholders. In particular we would like to point out the strong support and assistance provided by the Ministry of Mines, the Department of Trade and Industry, the Competition Commission, NamPower, Department of Water Affairs, NamWater and others,? states Johnson. Since the finalisation of the business combination, the B2Gold Board of Directors has approved a budget for 2012 of US$38 million (more than N$300 million) for exploration and project development.
B2Gold is cognisant of the varying aspects associated with project development such as adhering to legal tax requirements and employing local persons, to name a few. B2Gold considers that every project that is developed must provide benefit to all stakeholders (including shareholders) and takes corporate social responsibility as a fundamental to their social license to operate. Therefore, B2Gold is developing a trust that will be focused on the Auryx Namibian project areas within which they work. The fund establishes several phases for development and the company has committed more than N$1 million in 2012 for Phase 1 projects in the local communities.
Phase 2 will be developed as part of the Bankable Feasibility Study and will consider additional funding based on the results of the economic assessment of the project. B2Gold believes in developing projects that are sustainable and in a transparent manner with input from all stakeholders. Further to this, B2Gold is currently pursuing a listing on the Namibian Stock Exchange.
The additional 8% of the Otjikoto Gold Project is owned by EVI Mining Ltd, a broad based black economic empowerment group, with whom B2Gold has reached an agreement to provide services and a permanent secondee to Auryx to ensure that input from EVI is included in all decisions.
?The business combination of B2Gold and Auryx Gold is very positive for both shareholders and the stakeholders in Namibia. B2Gold has identified the Otjikoto Gold Project as a key first step for developing a long-standing presence in Namibia and Africa,? states Clive Johnson, President and Chief Executive of B2Gold. B2Gold has been successful throughout the world by ensuring that local partnerships are a fundamental of the business model and that capacity development and technology transfer are the backbone of project development. B2 has developed, and maintains, excellent local involvement and community relations in all projects that are developed.
?B2Gold believes in developing projects that are sustainable and in a transparent manner with input from all stakeholders. In light of this, we are certain that with continued support we can develop the Otjikoto Gold Project and provide benefit to shareholders and community stakeholders. In particular we would like to point out the strong support and assistance provided by the Ministry of Mines, the Department of Trade and Industry, the Competition Commission, NamPower, Department of Water Affairs, NamWater and others,? states Johnson. Since the finalisation of the business combination, the B2Gold Board of Directors has approved a budget for 2012 of US$38 million (more than N$300 million) for exploration and project development.
B2Gold is cognisant of the varying aspects associated with project development such as adhering to legal tax requirements and employing local persons, to name a few. B2Gold considers that every project that is developed must provide benefit to all stakeholders (including shareholders) and takes corporate social responsibility as a fundamental to their social license to operate. Therefore, B2Gold is developing a trust that will be focused on the Auryx Namibian project areas within which they work. The fund establishes several phases for development and the company has committed more than N$1 million in 2012 for Phase 1 projects in the local communities.
Phase 2 will be developed as part of the Bankable Feasibility Study and will consider additional funding based on the results of the economic assessment of the project. B2Gold believes in developing projects that are sustainable and in a transparent manner with input from all stakeholders. Further to this, B2Gold is currently pursuing a listing on the Namibian Stock Exchange.
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