Well B2Gold are trying to stick to their game plan of never over...

Well B2Gold are trying to stick to their game plan of never over paying for an aquisition. You would have to think this is not their final offer, nor the only company interested in PIR.

The transaction seems fairly vanilla, certainly doesn't explain why the company was in a trading halt for so long.

I like it how the company is trying to sell it to us "53% above the 20 day VWAP", to be honest, I don't care what the 20 day VWAP is / was. Iam sorry I don't, nor do I bet your company values a stock based on the 20 day VWAP. The last traded price is the company valuation at a certain point in time, not the 20 day VWAP.

If you want the deal to be taken seriously, pay 53% above the last price = $2.15. It is not the shareholder's fault that the share price had been rising in PIR over the preceeding weeks before B2Gold decided to make their intensions know.

One would think that PIR would be better off taking this to production with the optionality of their current projects and their leases under application.