In September 2016, billionaire Pierre Lassonde who founded and was CEO of both Newmont Mining (NEM) and Franco-Nevada (FNV) – the world’s two most successful gold mining companies in history – purchased another 12.5 million Calibre Mining (TSXV: CXB) shares to increase his position by 50% to 37.5 million shares for a 14.13% stake in the company!
A few weeks later in November 2016, CXB negotiated a deal that would make Donald Trump jealous. CXB had previously signed a joint venture agreement with B2Gold (BTG) a $3.19 billion Nicaraguan gold miner – to jointly explore CXB’s Primavera and Monte Carmelo gold projects in Nicaragua. BTG agreed to spend $8 million to fund the drilling campaigns in return for CXB giving them a 51% stake in the projects.
CXB in November negotiated the gold mining industry’s #1 most amazing deal of 2016 – to reacquire BTG’s 51% stake in the two projects to once again become the 100% owner of both! CXB didn’t need to spend a dime of its cash. In fact, BTG wanted more CXB shares! CXB issued to BTG 23.45 million shares, increasing BTG’s stake in CXB to 53.45 million shares – making them the new largest CXB shareholder slightly ahead of Pierre Lassonde! BTG and Pierre Lassonde now own a combined 90.95 million CXB shares for a total 31.5% stake in the company!
In December, a few weeks after CXB successfully acquired BTG’s 51% interest in the Primavera Gold Project – increasing CXB’s ownership to 100% of Primavera – CXB announced its first ever NI 43-101 Inferred Resource for Primavera of 1.2 Million Gold Equivalent Ounces!
NIA officially predicts that CXB will become the #1 largest percentage gainer on the TSX Venture exchange during the month of February 2017!