- Global gold producer B2Gold (TSX:BTO) has taken a C$12.1 million, 5 per cent stake in Founders Metals (TSXV:FDR), a junior gold miner in Suriname with an impressive track record of early exploration success
- Founders is fully funded to explore its flagship Antino gold project’s district-scale potential in 2025 guided by a multitude of high-grade intercepts
- Founders Metals is a Canadian-based exploration company advancing its 20,000-hectare Antino gold project in Suriname, South America
- Founders Metals stock has added 252.56 per cent year-over-year and 450 per cent since inception in 2021
Global gold producer B2Gold (TSX:BTO) has taken a C$12.1 million, 5 per cent stake in Founders Metals (TSXV:FDR), a junior gold miner in Suriname with an impressive track record of early exploration success.
The investment – composed of 4.4 million shares priced at C$2.75 each – was referenced on Thursday alongside a bought-deal financing that has since been extended to C$20 million, fully funding Founders’ 2025 budget on its flagship Antino gold project.
The 20,000-hectare project within the Guiana Shield gold belt benefits from a comprehensive dataset built up from past exploration, which has allowed Founders’ management to uncover extensive high-grade mineralization suggestive of a district-scale resource. Recent highlight results include:
Founders and B2Gold will enter into an agreement granting the latter the rights to increase its investment to 9.9 per cent, engage in technical collaboration on the Antino project, as well as collaborate on new prospects in the Guiana Shield, setting the stage for more positive news flow over the near term to bolster Founders’ multi-bagger return since inception.
Leadership insights
“We are very pleased with B2Gold’s investment in Founders along with the support and validation it brings to our Antino gold project,” Colin Padget, Founders’ president and chief executive officer (CEO), said in a statement. “We look forward to drawing on B2Gold’s experience in exploring for, and developing, world-class mining assets in similar geological environments. This broader financing package leaves Founders well-positioned to ramp up exploration at Antino, fully funding our planned 2025 exploration budget and the near-term addition of a fourth diamond drill.”
“This investment continues B2Gold’s strategy of identifying and investing early in discoveries with Tier-1 potential,” added Clive Johnson, B2Gold’s president and CEO. “The rigorous exploration efforts undertaken by Founders’ technical and management team have clearly highlighted the district-scale potential of the Antino gold project. We look forward to lending our strong technical expertise and experience to support the Founders’ team as they continue to define Antino’s upside.”
About Founders Metals
Founders is a Canadian-based exploration company advancing its 20,000-hectare Antino gold project in Suriname, South America. The project has yielded more than 500,000 ounces of gold from surface and alluvial mining to date.
Founders Metals stock (TSXV:FDR) last traded at C$2.75 per share. The stock has added 252.56 per cent year-over-year and 450 per cent since inception in 2021.
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(Top photo of Founders Metals’ Antino gold project in Suriname: Founders Metals)