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ARTICLE · 30 MARCH 2016

B2Gold Corp. v. Condor Resources PLC, 2015 BCSC 1548

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This British Columbia Supreme Court decision emphasizes the importance of due diligence in the specific context of an agreement that incorporates a second agreement by reference.

CanadaEnergy and Natural Resources
McCarthy Tetrault LLP
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B2Gold Corp. v. Condor Resources PLC, 2015 BCSC 1548

This British Columbia Supreme Court decision emphasizes the importance of due diligence in the specific context of an agreement that incorporates a second agreement by reference.

B2Gold entered into a letter agreement with Condor, a U.K.-based gold exploration company, for the exchange of concessions in Nicaragua. To carry out the exchange, B2Gold was to cause its subsidiary, Triton, to transfer two concessions to Condor, one of which the letter agreement specified was "subject to a 3% NSR in favour of Royal Gold." The NSR originated in a royalty agreement between Triton's predecessor and Royal Gold's successor, RG Exchangeco.

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