For a $100 million consideration, Calibre Mining Corp. will acquire the El Limon and La Libertad gold mines, the Pavon gold project and additional mineral concessions in Nicaragua from B2Gold Corp. Once the transaction is completed, B2Gold will own a 31% equity interest in Calibre.

The El Limon and La Libertad mines have produced in excess of 1.4 million ounces (oz) of gold since 2010. Their combined 2019 gold production is projected to be between 150,000 oz and 160,000 oz.

Calibre has been actively exploring in Nicaragua for the past 10 years and has enjoyed support from its employees, suppliers and the Nicaraguan government, the company said.