B2Gold Corp (NYSEAMERICAN:BTG) Stock Continues to Trade in a Narrow range
Last week, the B2Gold Corp N(YSEAMERICAN:BTG) suffered from a bit of a slump and went down by as much as 3% as a consequence. While the losses recorded by the stock are certainly notable, it is perhaps also necessary for investors to keep in mind that there was no news about the company over the course of the past week.
Market Stats
On Friday, BTG stock fell 1.56% at $4.41 with more than 7.63 million shares, compared to its average volume of 7.15 million shares. The stock has moved within a range of $4.3300 – 4.4900 after opening trading at $4.49.
Latest Progress
As a matter of fact, the last time the company was in the news was back on October 25, 2021. At the time the company announced that it had signed a binding agreement with the company West African Resources Limited.
As per the terms of the agreement between the two parties, the company is going to sell all the issued and outstanding shares in Volta Resources to West African Resources Limited. It is a significant development considering the fact that Volta Resources has an 81% interest in the Kiaka gold project which is located in Burkina Faso.
B2Gold is going to get a cash payment to the tune of $450,000. In addition to that, the company will also get another $450,000 after the closing of the transaction. That payment is going to be made half in cash and halfWest African Resources Limited shares.
Key Quote
Clive Johnson, President and Chief Executive Officer of B2Gold, stated: “We are pleased to have reached an agreement with WAF relating to the sale of the Kiaka Project, building on a strong relationship that we have formed with WAF over the past several years following the initial agreement relating to the Toega Project. WAF has a strong reputation of being a solid operator in Burkina Faso and with its existing local infrastructure and operating experience is well positioned to move the Kiaka Project forward in a timely and cost-effective manner. B2Gold, through the WAF shares it will receive as part of the consideration, and royalties on both the Kiaka and Toega projects, will continue to benefit from the future development of the projects.”
Traders Corner
BTG stock is trading above the 20-Day and 50-Day Moving averages of $4.36 and $3.98 respectively. Moreover, the stock is trading above the 200-Day moving average of $4.32. The stock is up 7% in the past month.
