B2Gold Corp. (BTG) Strengthens Balance Sheet with Fingold Ventures Interest Sale

B2Gold Corp. (NYSEAMERICAN:BTG) is one of the best gold stocks under $5. On April 23, B2Gold Corp. (NYSEAMERICAN:BTG) completed the sale of a 70% interest in Fingold Ventures to Agnico Eagle Mines Limited. Under the terms of the agreement, the company is to receive $325 million in cash proceeds.

B2Gold Corp. (BTG) Strengthens Balance Sheet with Fingold Ventures Interest Sale

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Following the sale, Aurion Resources is to own the remaining 30% interest in Fingold and has also waived its right of first refusal over the sale of that interest to B2Gold.The company plans to use the net proceeds from the sale to further strengthen its financial position.

B2Gold is increasingly purchasing shares under its renewed normal course issuer bid. During the first quarter, the company repurchased $80 million worth of shares. Part of the funds will also go towards financing general working capital purposes.

The sales also open the way for B2Gold Corp to collaborate with Agnico Eagle under the Nunavut collaboration. The agreement also provides a pathway for leveraging the complementary experience, best practices, and expertise of both companies.

B2Gold Corp. (NYSEAMERICAN:BTG) is a responsible international gold mining company headquartered in Vancouver, Canada. They are engaged in the exploration, development, and operation of gold mines globally.

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