Toronto-listed miners Argonaut Gold and Alio Gold have received a positive recommendation for the proposed merger by independent proxy advisory firm Institutional Shareholder Services (ISS).
The companies said that ISS recommended that Argonaut and Alio shareholders vote in favour of the resolutions to be voted on at the special meeting of shareholders to be held on May 20.
The meetings will be held in a virtual-only format, owing to the Covid-19 pandemic.
Argonaut’s primary assets are the El Castillo mine and San Agustin mine, which together form the El Castillo Complex in Durango, Mexico and the La Colorada mine in Sonora, Mexico.
Its advanced exploration projects include the Cerro del Gallo project in Guanajuato, Mexico and the Magino project in Ontario, Canada.
Alio Gold’s cornerstone asset is the 100% owned Florida Canyon mine in Nevada, US. The company also owns the development stage Ana Paula project in Guerrero, Mexico.
The merger was announced on March 30.