Drilling at the Bullfrog property. Credit: Augusta Gold.
Augusta Gold (TSX: G) has received shareholder approval for its planned takeover by AngloGold Ashanti (JSE: ANG; NYSE: AU), following a special meeting that took place earlier this week.
According to Augusta, nearly 70% of its outstanding shares were voted at the meeting, of which over 99.3% voted in favour of the merger resolution. With this approval, the transaction is expected to close on or around Oct. 23, subject to certain conditions.
Consolidating Beatty claims
In mid-July, AngloGold entered an agreement to acquire the Vancouver-based Augusta in a C$152 million ($108.7 million) all-cash deal, as it looks to consolidate landholding within Nevada’s Beatty gold district. Augusta’s key assets are the Reward and Bullfrog gold projects, both located next to AngloGold’s claims.
The C$1.70-a-share price it paid to Augusta shareholders…
