zonte metals

flynn, you have to admit that the market is playing a HUGE role in this meltdown, otherwise, might you be intellectually dishonest ?

Do you have the depth GoldnBoy, thanks ?

Seriously, Now you questioning the selling.
Maybe instead of questioning my I sold, you should of questioned why you didn't.
Just keep blaming the market, and not the company. That's been the theme here for a very long time.

893,000 shares on the ask to sell at $0.06, WTF....!!!

Sounds like they will just sit on it for 5 years at least which gets them out of paying 40 million.
Seems like Zonte shouldn't hold their breath. They have been waiting along time and will continue to wait.
Maybe its time for Zonte to cut its losses and move on?

I wonder if this is part of their strategy. They now have a price for 50% of the property which many might consider low. They also have had some negative press releases to make the property look less attractive all, perhaps, to try and reduce the value of Zonte's claim.

Great find lynnsa10, excellent article, it's the first time they mention Zonte metals in an article.

During that time, Gramalote became the centre of a mining rights dispute with Canada’s Zonte Metals, which remains active.

Btw, we're still waiting for the trial date, november 18 2023, it will be two years already, it's about time for a news release from Colombia !!

This was on mining.com on Tuesday, I like the last sentence
www.mining.com/b2gold-grabs-anglogolds-s...n-colombian-project/

Canada’s B2Gold (TSX, NYSE: BTO) will become the sole owner of the Gramalote gold project in Colombia after acquiring the 50% stake held by South Africa’s AngloGold Ashanti (JSE: ANG)(NYSE: AU)(ASX: AGG), its partner in the venture, for $60 million.

The gold project, located 124km northeast of Medellin, was put on hold in August last year, as preliminary results from an optimized feasibility study suggested that Gramalote did not meet the JV’s investment thresholds for mine development.
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A few months later, the partners decided that selling Gramalote was the best option for both companies, but failed to find a third party to take over the project.

B2Gold said the consolidation of Gramalote under one owner would make it possible to analyze lower capital intensity, higher-return development opportunities for the project. It noted that so far, Gramalote was looked at as a larger scale project to provide meaningful production growth to both companies.

The Vancouver-based gold producer will now examine various smaller-scale development options to identify cost savings. It will also start a new study in the fourth quarter of this year, with the goal of completing an initial assessment by the end of the second quarter of 2024.

The acquisition of Gramalote will add 2.11 million gold ounces of indicated mineral resources and 0.74 million gold ounces of inferred mineral resources to B2Gold’s resource base.

Focus on higher-return assets

For AngloGold, the sale will help increase its focus on operating assets and projects it intends to develop, the company said in a separate statement.

“AngloGold Ashanti remains a committed, long-term investor in Colombia with our exciting Quebradona copper and gold project and we look forward to playing a key role in developing of a modern, responsible mining sector in the country,” chief executive officer Alberto Calderon said in the statement.

AngloGold will receive the $60 million from B2Gold in stages, with $20 million due on closing of the transaction and the remainder in tranches, depending on the achievement of certain milestones. If commercial production does not begin within five years of the transaction closing date, no payment will be made, B2Gold said.

Gramalote was B2Gold’s first project when it was an exploration company. In 2015, it received the first environmental license awarded in Colombia in 35 years.

The permit gave it three years to work through social aspects related to the open pit project, including relocating artisanal miners and some nearby residents.

During that time, Gramalote became the centre of a mining rights dispute with Canada’s Zonte Metals, which remains active.

Agree, negative is the theme. I follow Goliath GOT. They have been putting out spectacular results like 23 meters of 21 g/t gold. Today it is announced McEwen of Goldcorp fame is investing $1 million in the company. The stock just lanquishes around it's bottom and is down -60% from 2022 highs

Its popular to be negative now, that is the market theme.

I just watched a Proactive Investor youtube video with a junior lithium explorer.

Proactive has over 53,000 subscribers to their channel yet the video has only had 73 views. Just shows there is almost zero interest in juniors.

Hell Struthers only has 67 subscribers and gets as many views

Zonte will kick all long time investors in sack, when they sell for
100% more then current market price. 12 Cents.

Someone making well over $120K a year, for many years, drops 6k of shares. Do you really think its a big deal? Head fake, something else is coming down the line.

Good find CIMA, hope will have the news on the trial date before year end, it could give B2Gold some little headaches with a Zonte's win in court !!

B2Gold buys AngloGold's 50% stake in Colombia mining project

07:21 AM | B2Gold Corp. (BTO:CA) | By: SA Editor Carl Surran, SA News Editor

B2Gold (NYSE:BTG) said Monday it agreed to acquire AngloGold Ashanti's (AU) 50% stake in the Gramalote project in Colombia for as much as $60M, which would give it full ownership of the project.

B2Gold (BTG) said it will receive $20M in cash upon the sale closing, which is expected by the end of this year, with the rest of the money to be paid depending on project construction and the completion of certain production milestones.

The miner said the acquisition will add 2.1M gold oz of indicated mineral resources and 740K gold oz of inferred mineral resources to its consolidated mineral resource base.

Separately, B2Gold (BTG) said its 100%-owned Goose project in Nunavut, Canada, is on schedule for first gold pour in Q1 2025 and construction capital spending remains in line with its June estimate of C$800M.