# B2Gold and Calibre Mining Join Forces in Nicaragua - Calibre Mining to Acquire El Limon and La Libertad Gold Mines - B2Gold to Become Calibre's Largest Shareholder Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/b2gold-and-calibre-mining-join-forces-in-nicaragua-calibre-mining-to-acquire-el--29c0dca2-d512-4cf3-87a3-add8ae7f797a Original source: https://money.tmx.com/en/quote/CXB/news/8838310716548887/b2gold-and-calibre-mining-join-forces-in-nicaragua-calibre-mining-to-acquire-el- Publisher: tmx Original announcement: 2019-07-02T07:30:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Calibre Mining Corp. - Ticker: CXB - Exchange: TSX - Region: Nicaragua - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Resource update, Agreement transaction, Capital raise - Extracted: 2026-09-15 19:32:18 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Calibre Mining has entered a binding agreement for B2Gold to acquire the El Limon and La Libertad gold mines and the Pavon Gold Project in Nicaragua for US$100 million. As part of the transaction, B2Gold will become Calibre's largest shareholder with an approximate 31% interest. Calibre is concurrently conducting a CDN$100 million equity financing to support the acquisition and operations. Reasoning: Major transformational acquisition for Calibre, adding producing mines and a substantial gold resource base, supported by a $100M financing. - Positive factor: Strategic acquisition of producing assets - Positive factor: Significant resource base increase - Positive factor: Strong partnership with B2Gold - Positive factor: Concurrent capital raise to fund operations - Negative factor: Transaction subject to shareholder and regulatory approvals - Negative factor: Inferred resources carry higher geological risk Facts used in scoring: 8 ## Classification and evidence **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: Gregory Smith, P.Geo, is named as the Qualified Person for the technical content. Evidence · text > approved by Gregory Smith , P.Geo, President and CEO of Calibre, who is the Qualified Person as defined by NI 43-101. **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The release explicitly references NI 43-101 standards for technical content and the Qualified Person. Evidence · text > approved by Gregory Smith , P.Geo, President and CEO of Calibre, who is the Qualified Person as defined by NI 43-101. ## Extracted facts Stored fact records: 8. Some facts used in scoring do not have a stored record. ## Resource Estimates (8) ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/b2gold-and-calibre-mining-join-forces-in-nicaragua-calibre-mining-to-acquire-el--29c0dca2-d512-4cf3-87a3-add8ae7f797a#fact-resource-facts-0) La Libertad · gold #### Identity - Project: La Libertad - Commodity: gold - Region: nicaragua - Reported Region: Nicaragua - Ticker: CXB #### Resource scope - Estimate type: reserve - Resource group id: resource:32a99c02030cba19c163 - Deposit or zone: La Libertad #### Resource Data - Category: probable - Tonnes: 1100000 - Grade: 2.01 - Grade Unit: g/t - Contained Metal: 70000 - Contained Unit: oz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2019-07-02T00:00:00.000Z Reasoning: Standard probable reserve disclosure. Evidence · table > 2.01 Context: 1,100,000 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/b2gold-and-calibre-mining-join-forces-in-nicaragua-calibre-mining-to-acquire-el--29c0dca2-d512-4cf3-87a3-add8ae7f797a#fact-resource-facts-1) El Limon · gold #### Identity - Project: El Limon - Commodity: gold - Region: nicaragua - Reported Region: Nicaragua - Ticker: CXB #### Resource scope - Estimate type: reserve - Resource group id: resource:5b25507447284720c367 - Deposit or zone: El Limon #### Resource Data - Category: probable - Tonnes: 600000 - Grade: 3.97 - Grade Unit: g/t - Contained Metal: 70000 - Contained Unit: oz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2019-07-02T00:00:00.000Z Reasoning: Standard probable reserve disclosure. Evidence · table > 3.97 Context: 600,000 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/b2gold-and-calibre-mining-join-forces-in-nicaragua-calibre-mining-to-acquire-el--29c0dca2-d512-4cf3-87a3-add8ae7f797a#fact-resource-facts-2) La Libertad · gold #### Identity - Project: La Libertad - Commodity: gold - Region: nicaragua - Reported Region: Nicaragua - Ticker: CXB #### Resource scope - Estimate type: resource - Resource group id: resource:7a8f9feab58adb1738d3 - Deposit or zone: La Libertad #### Resource Data - Category: indicated - Tonnes: 2000000 - Grade: 2.61 - Grade Unit: g/t - Contained Metal: 170000 - Contained Unit: oz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2019-07-02T00:00:00.000Z Reasoning: Standard indicated resource disclosure. Evidence · table > 2.61 Context: 2,000,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/b2gold-and-calibre-mining-join-forces-in-nicaragua-calibre-mining-to-acquire-el--29c0dca2-d512-4cf3-87a3-add8ae7f797a#fact-resource-facts-3) El Limon · gold #### Identity - Project: El Limon - Commodity: gold - Region: nicaragua - Reported Region: Nicaragua - Ticker: CXB #### Resource scope - Estimate type: resource - Resource group id: resource:9fa3223fb5bbedaec07c - Deposit or zone: El Limon #### Resource Data - Category: indicated - Tonnes: 11700000 - Grade: 2.4 - Grade Unit: g/t - Contained Metal: 910000 - Contained Unit: oz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2019-07-02T00:00:00.000Z Reasoning: Significant indicated resource component. Evidence · table > 2.40 Context: 11,700,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/b2gold-and-calibre-mining-join-forces-in-nicaragua-calibre-mining-to-acquire-el--29c0dca2-d512-4cf3-87a3-add8ae7f797a#fact-resource-facts-4) La Libertad · gold #### Identity - Project: La Libertad - Commodity: gold - Region: nicaragua - Reported Region: Nicaragua - Ticker: CXB #### Resource scope - Estimate type: resource - Resource group id: resource:ad008f5121e25efe43ee - Deposit or zone: La Libertad #### Resource Data - Category: inferred - Tonnes: 3200000 - Grade: 4.37 - Grade Unit: g/t - Contained Metal: 450000 - Contained Unit: oz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2019-07-02T00:00:00.000Z Reasoning: Inferred resource carries higher geological risk. Evidence · table > 4.37 Context: 3,200,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/b2gold-and-calibre-mining-join-forces-in-nicaragua-calibre-mining-to-acquire-el--29c0dca2-d512-4cf3-87a3-add8ae7f797a#fact-resource-facts-5) El Limon · gold #### Identity - Project: El Limon - Commodity: gold - Region: nicaragua - Reported Region: Nicaragua - Ticker: CXB #### Resource scope - Estimate type: resource - Resource group id: resource:f860a4a58bb3c25bbfce - Deposit or zone: El Limon #### Resource Data - Category: inferred - Tonnes: 5600000 - Grade: 5.53 - Grade Unit: g/t - Contained Metal: 1000000 - Contained Unit: oz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2019-07-02T00:00:00.000Z Reasoning: High grade inferred resource. Evidence · table > 5.53 Context: 5,600,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/b2gold-and-calibre-mining-join-forces-in-nicaragua-calibre-mining-to-acquire-el--29c0dca2-d512-4cf3-87a3-add8ae7f797a#fact-resource-facts-6) Pavon Gold Project · gold #### Identity - Project: Pavon Gold Project - Commodity: gold - Region: nicaragua - Reported Region: Nicaragua - Ticker: CXB #### Resource scope - Estimate type: resource - Resource group id: resource:dcafa5be652b929c5701 - Deposit or zone: Pavon Gold Project #### Resource Data - Category: indicated - Tonnes: 290000 - Grade: 5.82 - Grade Unit: g/t - Contained Metal: 55000 - Contained Unit: oz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2019-07-02T00:00:00.000Z Reasoning: Standard indicated resource disclosure. Evidence · table > 5.82 Context: 290,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/b2gold-and-calibre-mining-join-forces-in-nicaragua-calibre-mining-to-acquire-el--29c0dca2-d512-4cf3-87a3-add8ae7f797a#fact-resource-facts-7) Pavon Gold Project · gold #### Identity - Project: Pavon Gold Project - Commodity: gold - Region: nicaragua - Reported Region: Nicaragua - Ticker: CXB #### Resource scope - Estimate type: resource - Resource group id: resource:be901ef39adf36dd1916 - Deposit or zone: Pavon Gold Project #### Resource Data - Category: inferred - Tonnes: 130000 - Grade: 5.5 - Grade Unit: g/t - Contained Metal: 23000 - Contained Unit: oz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2019-07-02T00:00:00.000Z Reasoning: Inferred resource disclosure. Evidence · table > 5.50 Context: 130,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.