AngloGold Ashanti (NYSE:AU) Using Capital from B2GOLD (TSE:BTO) Sale for Exploration

AngloGold Ashanti (NYSE:AU) sold all their shares in B2GOLD (TSE:BTO), generating
C$70 million from the sale, which was through it wholly owned offshore subsidiary.

The gold miner held 31,556,650 shares in B2Gold, which is based in Vancouver. That was a little over a 10 percent stake in the company.

The shares were sold after the market closed Tuesday.

Anglogold said they're going to use the capital expand exploration in Colombia, especially its Gramalote project. They may also pay down some debt with the funds as well.

B2Gold and AngloGold still remain partners in the Gramalote joint venture, which Anglogold has a 51 percent stake and B2Gold the remaining 49 percent.

Anglogold was trading at $50.83, gaining $2.02, or 4.14 percent at 12:36 PM EST.