Canada's B2Gold Corp said it would purchase Australia's Papillon Resources Ltd for $570 million. The offer price of A$1.72 ($1.59) per share represents a 21 percent premium to Papillon's close on May 23, the stock's last trading day.
B2Gold Corp. (B2Gold) is a gold producer with mining operations in Nicaragua and a portfolio of development and exploration assets in Colombia, Nicaragua and Uruguay. Shares of BTO fell by 0.38% or $-0.01/share to $2.62. In the past year, the shares have traded as low as $1.87 and as high as $3.69. On average, 3648450 shares of BTO.TO exchange hands on a given day and today's volume is recorded at 3693284.
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