B2b Gold buys Central Sun Mining

Bloomberg reports that Central Sun has been bought by B2b gold. Central Sun operates mines in Nicaragua but was cutting back because they could not obtain financing. The buy means that they will have the cash to expand their work here.

The acquisition gives B2Gold precious-metal production from Central Sun’s Limon and Orosi mines in Nicaragua, providing a source of income at a time when credit markets are difficult to access. The deal also stymies an attempt by Halifax, Nova Scotia- based Linear Gold Corp. to buy Central Sun.

This explains why Central Sun's stock has been heading rapidly upward after a sharp drop when they previously had announced that they could not obtain needed financing.