Prospector Metals (TSXV: PPP) has seen a major shareholder increase their stake in the company. B2Gold (TSX: BTO) has invested a further $10 million into Prospector, which follows the major discovery of the Tess Zone at Prospector’s ML Property.
The arrangement has seen B2Gold acquire 10.3 million shares of the company at a price of $0.97 per share, resulting in a total additional investment of $10.0 million by the company. No warrants were issued in connection with the offering.
Upon closing, B2Gold will have increased their equity stake from 9.9%, a position they first acquired back in 2024, to that of 17.2%.
Sponsored · First Phosphate Corp.
WATCH: Prospector Metals: The $82 Million Hole
“We are excited to continue and strengthen our partnership with B2Gold and proceeds from this investment will go towards our now, fully funded 2026 drill program on our flagship ML Project, Yukon. Our 2025 drill program successfully defined several high-grade gold trends which will be fully evaluated in 2026,” commented Rob Carpenter, CEO of Prospector Metals on the investment.
Prospector Metals last traded at $0.93 on the TSX Venture.
Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
