July 13, 2016 / 1:07 PM / a year ago

BRIEF-Arena Minerals says B2Gold will not fulfill commitments of two properties

July 13 (Reuters) - Arena Minerals Inc :

* Received notice from B2Gold that it will not fulfill minimum exploration commitments of Cerro Barco and Pampa Paciencia properties

* As per deal, B2Gold to pay US$1.5 million to Arena by issuing common shares of B2Gold to arena, make cash payment to Arena of us$241,000

* Says both these properties will revert back to Arena

* All payments to be made by july 26, 2016

* Arena Minerals Inc says Cerro Barco target identified by Arena prior to signing of agreement remains undrilled

* Says Arena will review its alternatives with respect to Cerro Barco and Pampa Paciencia prospects Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below