Three transactions in the Canadian gold mining sector on Tuesday won approval from shareholders, paving the way for a reconfiguration of gold companies and assets.
Kirkland Lake Gold’s shareholders on Tuesday overwhelmingly approved the $4.9-billion takeover of Detour Gold, with 98.99% of the votes cast giving the transaction a thumbs up. Continental Gold’s shareholders have also given their nod for a buyout by Chinese group Zijin Mining Group. The C$1.3-billion transaction will hand Zijin the Buritica gold project, in Colombia. In the third transaction, shareholders of Equinox Gold and Leagold Mining approved all matters voted on at their respective special meetings, clearing the path of the combination for the companies to create an enlarged gold producing company operating entirely in the Americas.