September 27, 2016 / 5:37 PM / in a year

BUZZ-B2Gold Corp: Biggest intraday pct fall in 3 years on Masbate mine notice

** Canadian gold producer’s shares fall as much as 14.6 pct to C$3.27, biggest intraday pct fall in nearly 3-1/2 years

** Philippines orders suspension of 20 more mines for environmental violations (reut.rs/2d5EwzU)

** Company says the Masbate mine in the Philippines will get a show-cause order related to operations

** B2Gold, which indirectly owns the Masbate mine, says the issues will be resolved by working with government agencies

** Company says show-cause order relates to administrative issues only, not environmental or social issues

** Company says operations continue uninterrupted and guidance remains unchanged

** National Bank reiterates “Sector Perform” rating and C$4.50 PT

** 15 of 16 brokerages rate the stock “buy” or higher, 1 “hold”; Median PT C$5.25

** Up to Monday’s close, stock had more than doubled YTD

0 : 0
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