TORONTO (miningweekly.com) – Shareholders in Central Sun Mining on Friday voted in favour of a merger with gold junior B2Gold.

The all-share transaction was approved by 99% of the votes cast, representing 57% of Central Sun's outstanding shares, the firms reported.

The final condition to the deal is a hearing by the Ontario Superior Court of Justice, which is expected to take place on March 25, and the transaction will likely close shortly thereafter.

B2Gold will pay 1,28 of its own shares for every Central Sun share, which represented a 45% premium over the firms' closing prices on the last day before the transaction was announced.

Central Sun mines gold at its 45 000-oz/y Limon operation, in Nicaragua, and the two firms expect to restart the company's Orosi mine in the third quarter of this year.

The enlarged company will likely increase gold production to 130 000 oz/y by year-end, the companies said in February.

B2Gold is exploring properties in Colombia and Panama, as well as around Kinross Gold's Kupol mine, in Russia.

It's most advanced prospect is the Gramalote project, which it operates but owns in joint venture with AngloGold Ashanti.

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