Northwire Canada EditionFriday, November 13, 2026
Sign inSubscribe
Northwire
⌕
Gold 3,885.30 −2.9% Silver 50.06 −3.7% Copper 6.19 −1.5% Oil 88.70 +2.5% Palladium 992.00 −5.2% SEA 35.00 −3.2% GLO 0.300 −6.2% WM 1.42 −2.1% MFG 3.25 −4.7% RAGE 0.295 +0.0% DPM 50.56 −4.2% ARIS 21.08 −4.7% AUEN 0.170 +6.2% FCI 0.540 −1.8% SLI 1.98 −5.3% COCO 0.350 −4.1% BCU 0.060 +0.0% BGF 0.025 +0.0% TDG 0.710 +44.9% PRU 6.04 −4.1% NGEX 21.01 −5.2% Gold 3,885.30 −2.9% Silver 50.06 −3.7% Copper 6.19 −1.5% Oil 88.70 +2.5% Palladium 992.00 −5.2% SEA 35.00 −3.2% GLO 0.300 −6.2% WM 1.42 −2.1% MFG 3.25 −4.7% RAGE 0.295 +0.0% DPM 50.56 −4.2% ARIS 21.08 −4.7% AUEN 0.170 +6.2% FCI 0.540 −1.8% SLI 1.98 −5.3% COCO 0.350 −4.1% BCU 0.060 +0.0% BGF 0.025 +0.0% TDG 0.710 +44.9% PRU 6.04 −4.1% NGEX 21.01 −5.2%
Financings

BeMetals Announces Settlement of All Outstanding Debt

B2Gold Restructuring Wipes Balance Sheet Clean Following Massive $17.5M Asset Impairment and Management Shakeup

By The Northwire Desk — AI Analysis Dec 23, 2025 · 07:00 BMET · 0.07 BeMetals Corp.
Executive Summary

The most recent news release (December 23, 2025) announces that BeMetals has settled all outstanding debt, effectively becoming debt-free. This was achieved through a series of transactions with its primary stakeholder, B2Gold Corp. The settlement involves issuing 28,897,343 common shares at $0.07 per share and a significant conversion of debt into equity at $0.25 per share (well above current market prices), totaling 24,552,832 shares. Consequently, B2Gold’s ownership increases to approximately 36.93%. Concurrent with this restructuring, Clive Johnson (CEO of B2Gold) resigned from the Board to become an advisor.

Material Impact

This news is a major pivot for the company. Historically, the company was burdened by over $12.9 million in liabilities (as of Q3 2025), which severely restricted its operational flexibility. - Balance Sheet Clean-up: Removing the $8.07 million loan and $4.69 million convertible debenture removes the immediate threat of insolvency and stops the accrual of high interest expenses ($499k in finance expenses in the first 9 months of 2025). - B2Gold Support: The decision by B2Gold to convert debt at $0.25 (a ~250% premium to the recent $0.07 market price) is a massive vote of confidence and prevents catastrophic dilution that would have occurred if all debt was settled at market prices. - Residual Negatives: The company recently recorded a massive $17.58 million impairment of its exploration assets in Q3 2025, suggesting that previous flagship projects (Japan/Zambia) have failed to meet internal value expectations. The company is essentially starting over with the Savant Gold Project in Ontario.

BMET · Price
Company Overview

BeMetals is a precious and base metals explorer. Historically, its flagship was the Pangeni Copper Project in Zambia and the Kazan gold projects in Japan. However, the $17.5M impairment in late 2025 signals a strategic shift. The new flagship is the Savant Gold Project in Northwestern Ontario, a 232 sq km underexplored property in a region with major mines like Musselwhite and Red Lake. The company can earn up to 100% interest by spending $500k/year and identifying a 1M oz gold resource.

Read the original news release →

More from BeMetals Corp.

Jul 27, 2026 · 07:01

BeMetals closes merger financing to pivot to Canadian gold exploration, targeting high-grade deposits with significant resource potential.

Financings May 28, 2026 · 19:30

BeMetals pieces together new Canadian explorer with Prospector assets and a $4 million subscription receipt funding — just enough to keep the lights on as management pivots toward discovery.

Financings May 20, 2026 · 07:00

Building the Future with Metals

M&A / Property May 01, 2026 · 07:01

BeMetals Restructures and Consolidates Shares Following Strategic Asset Acquisition

Other Apr 16, 2026 · 07:00

BeMetals Restructures Into Lightning Resource With B2Gold Backing Amidst Exploration Uncertainty

M&A / Property Feb 12, 2026 · 17:57

Bemetals grab samples up to 34.7 g/t Au at Savant

Drill Results