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Libero acquires B2Gold's Mocoa

Junior Libero Copper Corp (TSXV: LBC) has acquired B2Gold’s 6.31 billion pound Mocoa copper-molybdenum project in Colombia.
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Libero adds Mocoa to copper-moly portfolio

Staff reporter

Libero issued shares, worth about C$936,000 (US$710,000) comprising a 19% stake in the junior, and a 2% net smelter returns royalty to B2Gold for 100% of the project.

Mocoa has an in-pit inferred resource of 636 million tonnes at 0.33% copper and 0.036% molybdenum, or 0.45% copper-equivalent, for 6.31Blb CuEq.

Libero said Mocoa was near the Ecuador border and was discovered in 1973 when the United Nations and the Instituto Nacional de Investigaciones Geológico Mineras of Colombia conducted a regional stream geochemical survey.

It has seen exploration by AngloGold and B2Gold and was on the Eastern Cordillera tectonic belt that also hosted the Mirador and San Carlos deposits, Libero said.

B2Gold (TSX: BTO) has the right to participate in future equity raisings to maintain its stake.

It has also granted Libero a right of first refusal on a sale of the NSR.

Libero has said it was focused on acquiring high-quality copper deposits in the Americas, with a significant resource "and without any fatal flaws or significant holding costs".

It also has the Tomichi copper-molybdenum deposit in Colorado, US, which has an inferred 711Mt resource at 0.33% CuEq.

The company said it had C$0.5 million (US$0.4 million) in cash this month.

It changed its name in November from Libero Mining Corp to Libero Copper Corp.

Libero closed down C2c on Friday to 8c but remains up 23% year-to-date, capitalising it at $4.4 million.

Shares in B2Gold, which has five operating gold mines including Fekola in Mali, closed down 4c to $3.37, representing a drop of 13% year-to-date and valuing it at $3.3 billion.