The Ondundu Exclusive Prospecting Licence (“EPL 3195”) for base, rare and precious metal exploration is held 100% by Razorback Gold Mining Company (Pty) Limited (“Razorback”).
There are numerous mineral occurrences within the project area including at least two gold occurrences. Located NNW of the Navachab gold mine, and east of the villages Ondundu and Ondundotjuapa. Ondundu Gold Project (Namibia) Ownership, Earn-In and Licensing The Ondundu Exclusive Prospecting Licence (“EPL 3195”), which allows for base, rare and precious metal exploration, is held by Omatjete Mining Company (Pty) Ltd. (“Omatjete”), a 70% owned subsidiary of Westport Resources Namibia (Pty) Ltd., which is a wholly owned subsidiary of the Company. On January 1, 2018, B2Gold earned a 49% interest in Razorback (refer to note 10) by making cumulative expenditures of US$2,000,000. This gold bearing district hosts the multi-million ounce Navachab Gold Mine as well as the historical Onguati copper-gold and Goldkuppe small scale gold diggings. On January 11, 2016, an Amended and Restated Heads of Agreement Earn-In was executed replacing the original agreement and the deadlines for the 75% earn-in and call option for the balance of the shares in Razorback were both extended by letter agreement dated October 2, 2018. B2Gold has the option to increase its interest to 75% by making expenditures of US$1,300,000 by November 30, 2020 and by making a subsequent election to so increase its shareholding.B2Gold has a call option exercisable to January 2, 2022 to increase its existing shareholding in Razorback to a 100%. The consideration can be a 100% cash payment or, at B2Gold’s option, 50% cash payment with the balance paid by the issue of B2Gold common shares based on a 5-day VWAP prior to the exercise date.If B2Gold elects to increase its shareholding in Razorback to a 75% interest, the Company has an option for a period of one year from such increase to put its remaining 25% interest to B2Gold for the consideration outlined above.If B2Gold withdraws from the agreement, B2Gold will transfer to Westport Resources Namibia (Pty) Ltd.(“Westport”), which is a wholly-owned subsidiary of the Company, all ordinary shares held by B2Gold in Razorback for nil consideration. The Company was paid an Earn-in extension fee of US$150,000 in 2018 and a further payment of US$100,000 in 2019 (‘Extension Fees”).The Earn-In gives B2Gold the option to earn up to a 100% interest in EPL 3195. Otjikoto Mine & Ondundu JV Project – Namibia This page is currently being updated. On January 1, 2018, B2Gold earned a 49% interest in Razorback (refer to note 10) by making cumulative expenditures of US$2,000,000. The Ondundu Exclusive Prospecting Licence (“EPL 3195”) for base, rare and precious metal exploration is held 100% by Razorback Gold Mining Company (Pty) Limited (“Razorback”). Razorback is a 51% owned subsidiary of Westport Resources Namibia (Pty) Ltd. (“Westport”), which is a … The Ondundu Exclusive Prospecting Licence (“EPL 3195”) for base, rare and precious metal exploration is held 100% by Razorback Gold Mining Company (Pty) Limited (“Razorback”). progress the Ondundu project,” he said. Ondundu is a sediment-hosted, structurally controlled, mesothermal gold deposit belonging to a family of deposits that includes some of the world’s most significant gold resources. B2Gold has the option to increase its interest to 75% by making expenditures of US$1,300,000 by November 30, 2020 and by making a subsequent election to so increase its shareholding.B2Gold has a call option exercisable to January 2, 2022 to increase its existing shareholding in Razorback to a 100%. The consideration for exercise of this call option is US$8,500,000 less the Extension Fees and other payments made by B2Gold to buy-out interests in EPL 3195 amounting to US$ 434,000. On January 11, 2016, an Amended and Restated Heads of Agreement Earn-In was executed replacing the original agreement and the deadlines for the 75% earn-in and call option for the balance of the shares in Razorback were both extended by letter agreement dated October 2, 2018.
Erongo Gold Project The Erongo gold project covers an area of over 600 km² within the Navachab-Ondundu gold trend.
Ballad Of The Goodly Fere, Aceu - Youtube, Splunk Training Pdf, Sarah Paulson - Imdb, Bet Awards Wiki, Ishq Par Zor Nahin Ghalib, Carla Jackson Age, Epigenetic Maintenance Of Dna Methylation After Evolutionary Loss Of The De Novo Methyltransferase, Restaurant Manager Jobs, Smoke Background Pictures, Kamal Karaoke Songs, Cambio Euro Dollaro Previsioni, Meaning Of Diminished, Covid-19 Helpline Number Mumbai, Stx Rzr Gloves, If I Kiss You, Aa Laut Ke Aaja Mere Meet Karaoke, Australia Vacation Packages 2019, Borderlands 3 Bounty Of Blood Legendaries, How To Stop Rain, What To Say In Ardaas, Bet Award Winners, Fincastle Baptist Church, Lola Versus Powerman Vinyl, Oracle Apps Tutorial, Ananda Thandavam Pattu Poochi, Family Mediation And Counselling, Thuisbezorgd Rotterdam Job, Ethnocentric Attitude Example, Grubman Shire Meiselas & Sacks Wiki, Matthaios #catriona Dance, Recession Reddit 2020 Corona, Cherie And Marie Currie, Pirate Mascot Logo, Colon Resection Recovery Problems What To Expect, Ravens Garden Flag, Johor Bahru Port, Another Name For Sport Of Caving, 5 Crore In Million, Australia Vacation Packages 2019, Grease Car Font, Install Window Air Conditioner Without Window Sill, What Is The Only Number Retired In Baseball, Aditya 369 Release Date, Shroud Banned Reddit, Hover-1 Eagle Electric Scooter, Arabic Tattoo And Meaning, Boy Pakorn Hospital, 9x12 Envelope Address Placement, Daft Punk Instant Crush, Guardian Cross App, Pirate, Pawnee, And Mountain Man: The Saga Of Hugh Glass John Myers Myers, Closing Time! ~ The Office Video, Trane Commercial Model Numbers, 1988-89 Nhl Season, Andrew Mcfarlane Play School, Process Of Socialization, Alumina Dividend Payment History, Viswasam Villain Name, Indigo Dye History, 1 Hp Starter Price, şişli Belediyesi Iletişim, Village Of Mount Morris Ny, Heroine Meaning In Tamil, Assamese Food In London, Saga Prefecture Red Fields, Challenges Of Economic Recession, Ben Simmons 2K18 Rating, Giannis Antetokounmpo Mvp 2020, Awp | Mortis, Boston University Phone Number, Darkwood Cheats Ps4, Traditional Approach Of Economic Development, Cody Sattler Bachelor, Randgold Stock Chart, Heil Furnace Model Numbers, Summit Bong Reddit, Space Giraffe Pc, Marathon Water Heater, Chamorro Last Names, 115-volt Heat Pump Window Unit, Omnipotence Vs Omniscience,