B2Gold Namibia exercises call option to acquire balance of shares in Razorback

B2Gold Namibia exercises call option to acquire balance of shares in Razorback

Forsys Metals Corp. is pleased to announce that B2Gold Mining Investments Limited and B2Gold Namibia (Proprietary) Limited has exercised its call option to increase its existing shareholding in Razorback Gold Mining Company (Pty) Limited to 100% (the “call option”). Pending the completion of the exercise, Forsys currently owns a 51% interest in Razorback.

Razorback holds the Ondundu Exclusive Prospecting Licence (“EPL 3195”) for base, rare and precious metal exploration. The consideration for exercise of the call option is a net amount of US$7,716,118. being the option price of US$8,500,000 less the fees paid by B2Gold for the extension of the option period of US$250,000 and less the other payments made by B2Gold to buy-out interests in EPL 3195 amounting to US$533,882.

About Forsys Metals Corp.

Forsys Metals Corp. is a uranium focused development company with 100% ownership of the Norasa project that comprises the Valencia and Namibplaas uranium projects in Namibia, Africa a politically stable and mining friendly jurisdiction.

Norasa comprises deposits on Mining License, ML149 and at Namibplaas on Exclusive Prospecting License (EPL) 3638. Namibplaas project (EPL 3638) is located approximately 7.5 kilometers northeast of Valencia. Ondundu Gold Project EPL 3195 is the Company’s non-uranium project. The Company’s subsidiaries include Namibian Metals Ltd., Dunefield Mining Company (Proprietary) Limited, Namibian Westport Ltd., and Westport Resources Namibia (Proprietary).


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