The offer states that Rupert will issue approximately 28.6 million shares to B2Gold, for an implied total value of C$102.8 million ($76 million) based upon the market price of its shares as of March 8, 2024.
The stock was down 1.1% to C$3.55 by 11:30 a.m. ET on Monday, for a market capitalization of C$723.8 million ($536 million).
In a separate release Monday, the Toronto-based Rupert confirmed that preliminary discussions are underway with B2Gold to acquire its 70% interest in the JV company.
The acquisition would bolster Rupert’s portfolio, adding several exploration targets covering 293 sq. km. of the Sirkka shear zone. This includes the Helmi discovery located 1.5 km west of Ikkari and the Kutuvuoma prospect discovered in 1990 by state-backed miner Outokumpu.
Under a 2019 shareholders agreement between the JV partners, Aurion holds a right of first refusal with respect to the proposed sale by B2Gold of its interest in…
