- B2Gold (TSX:BTO) purchased 484,239 shares of Founders Metals (TSXV:FDR) for C$5.30 per share, representing a C$2.57 million investment
- The new shares maintain the company’s 5 per cent non-diluted stake, following an initial C$12.1 million investment announced in October 2024
- Founders Metals is a Canadian-based exploration company advancing the Antino gold project in Suriname
- Founders Metals stock has added 332.26 per cent year-over-year and 972 per cent since 2021
B2Gold (TSX:BTO) purchased 484,239 shares of Founders Metals (TSXV:FDR) for C$5.30 per share, representing a C$2.57 million investment.
The allocation maintains the company’s 5 per cent non-diluted stake, following an initial C$12.1 million investment announced in October 2024. As per the companies’ initial agreement, B2Gold must also buy 1,170,000 Founders Metals shares in the open market during the 12 months following the closing of the initial investment in November.
The new C$2.57 million investment is expected to close in February, complementing a ~C$30 million bought-deal offering led by BMO Capital Markets, also opened in February, to expedite exploration at the company’s flagship 20,000-hectare Antino gold project in Suriname.
What makes Founders’ Antino project worth B2Gold’s attention?
The Antino project is in the heart of the Guiana Shield, an underexplored region housing gold deposits with combined resources exceeding 110 million ounces.
Guided by 32,000 metres (m) of historic drilling and over 500,000 ounces reported from historical artisanal gold mining, Founders management has delivered value-accretive drilling results since 2023, most recently highlighted by a gold discovery of 17.8 metres grading 5.68 grams per ton reported in January 2025. The company is fully financed for up to 60,000 m of drilling in 2025.
According to Founders’ latest investor presentation, the analyst consensus is that Antino has the potential to contain between 5 and 10 million ounces of gold, entailing a top end of over US$29 billion in resources in the ground.
Having averaged about 1 million ounces of gold production since 2018, generating over US$1.5 billion in net income over the period, it’s no surprise that B2Gold is making early-stage investments, beyond its already considerable initiatives underway (slide 10), to make sure it can keep up with investors’ growth expectations.
Leadership insights
“We’re pleased to have B2Gold’s ongoing support; their investment in Founders is a strong endorsement of what we have accomplished to date and the Tier-1 potential of Antino,” Colin Padget, Founders Metals’ president and chief executive officer, said in a statement.
About Founders Metals
Founders Metals is a Canadian-based exploration company advancing the Antino gold project in Suriname. The 20,000-hectare project has produced over 500,000 ounces of gold from surface and alluvial mining to date.
Founders Metals stock (TSXV:FDR) last traded at C$5.36 per share. The stock has added 332.26 per cent year-over-year and 972 per cent since 2021.
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(Top photo of Founders Metals’ Antino gold project in Suriname: Founders Metals)
