Aurion Resources (TSXV: AU) received notification from its joint venture partner, B2Gold (TSX: BTO), regarding an acquisition offer for B2Gold’s 70% interest in their gold exploration JV focused on the Central Lapland greenstone belt in northern Finland. The offer, extended by Rupert Resources (TSX: RUP), aligns with Rupert’s exploration efforts in the same region, particularly centered around its Rupert Lapland project, home to the significant Ikkari discovery. This proposition entails issuing roughly 28.6 million shares to B2Gold, valuing the transaction at approximately C$102.8 million ($76 million) based on Rupert’s share price as of March 8, 2024. Rupert’s stock, however, observed a 1.1% decline to C$3.55 by midday Monday, despite confirming preliminary discussions with B2Gold. The potential acquisition would expand Rupert’s exploration targets, encompassing 293 sq. km. of the Sirkka shear zone, including the Helmi discovery and the Kutuvuoma prospect. With a right of first refusal per a 2019 shareholders agreement, Aurion has until May 9, 2024, to decide on its course of action regarding the proposed sale by B2Gold. The transaction remains contingent upon final agreements, due diligence completion, and regulatory green lights. Simultaneously, Aurion’s stock experienced a notable surge of 11.5% to C$0.58 per share on Monday, elevating the company’s market capitalization to C$76.8 million ($57 million).
