VANCOUVER--In its first major move since debuting on the market in December, B2Gold (BTO-V, BGLPF-O) has worked a deal with AngloGold Ashanti (AU-N, AGD-L) to get its hands on a significantly increased land package in Colombia while the senior takes a bigger chunk of the young company's shares. B2Gold has agreed to issue AngloGold 25 million common shares plus 21.4 million warrants. Of the warrants, 11 million are exercisable at 3.34 dollars and the rest at 4.25 dollars; all expire in three years. The transaction will leave AngloGold holding 15.9 percent of B2Gold's outstanding shares or 26 percent of the company on a fully diluted basis.
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