Founders shares rally after B2 Gold increases stake
Founders Metals Inc. [FDR-TSXV] said B2Gold Corp. [BTO-TSX, BTG-NYSE American, B2G-NSX] has completed its obligations under a shareholders rights agreement by purchasing 1.17 million shares of the company
B2 Gold purchased the shares in the open market to fulfill an agreement and preserve its right to participate in future financings up to a maximum of 9.9% ownership. Together with its prior private placement subscriptions, B2Gold now holds roughly 6.0% of Founders issued and outstanding shares on a non-diluted basis.
Founders’ shares rallied on the news, rising 5.1% or 16 cents to $3.30. The shares trade in a 52-week range of $6.25 and $2.20.
Founders Metals is focused on acquiring and advancing gold projects in the South American Guiana Shield. Its flagship property is the 20,000-hectare Antino project, where previous work has included over 30,000 metres of historical drilling, 35,000 gold-in-soil auger samples, and property wide aeromagnetic survey data, plus a 2022 LiDar survey.
Antino is the most advanced exploration project in Suriname. It is located in an area where historical surface/alluvial gold mining has produced over 500,000 ounces of gold.
Back in November, 2024, B2Gold agreed to make a $12.1 million investment in Founders, leaving it with a 5.0% stake in the South America-focused explorer. At the time, B2Gold acquired 4.4 million shares for $2.27 per share. B2 also entered into an investor rights agreement, that includes rights related to B2Gold increasing its ownership to a maximum of 9.9%.
“B2Gold’s decision to increase their position demonstrates strong confidence in Founders and the Antino Gold Project,” said Founders President and CEO Colin Padget. “Their continued investment reinforces our shared belief in Antino as a Tier 1 discovery, and we’re pleased to have their ongoing support as we work to unlock the project’s fully potential and realize value for shareholders.”
In a press release on August 11, 2025, Founders announced new drill results from a fully-funded 60,000-metre drilling campaign at Antino. “We’re seeing exciting results on multiple fronts at Upper Antino,” Padget said. He said ongoing drilling testing continuity and growth of high-grade domains within [the Froyo Zone], hit an impressive 46 metres of 3.59 g/t gold in FR120. “Early results from our deep drilling program nearly double the vertical depth of the Froyo Zone to over 500 metres from surface, substantially increasing its expansion potential at Upper Antino.”
Meanwhile, the company said exploration activities are actively underway at the Van Gogh, Da Vinci, Lawa and Parbo targets, encompassing comprehensive surface exploration programs that include geological mapping, rock sampling, channel and trench sampling, and deeper auger drilling programs. As conditions in the area begin to dry out, follow-up drilling at targets is expected to commence in early fourth quarter, 2025.