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Calibre defers B2Gold payments

Calibre Mining has agreed with B2Gold to defer payment of US$15 million related to its 2019 acquisition of the El Limon and La Libertad gold mines in Nicaragua.
Calibre defers B2Gold payments Calibre defers B2Gold payments Calibre defers B2Gold payments Calibre defers B2Gold payments Calibre defers B2Gold payments

La Libertad in Nicaragua

Staff reporter

The $10 million deferred acquisition and $5.5 million working capital adjustment payments were postponed for six months until April 2021 to safeguard the company's cash position during a temporary production stoppage as a precautionary measure related to the Covid-19 virus outbreak.

"My thanks to B2Gold for granting us the payment extension in light of the extraordinary circumstances in which we all find ourselves today. They have been exceptional partners since this transaction was announced last July and I couldn't ask for a more supportive shareholder," said president and CEO Russell Ball.

Calibre had $32.9 million in cash and cash equivalents at the end of 2019.

Shares in Calibre Mining are trading at C61c, valuing the company at $230 million.