TSX-listed Corvus Gold says the majority of its shareholders voted in favour of the proposed deal whereby AngloGold Ashanti intends to acquire the remaining 80.5% of shares of Corvus it does not own for about $370-million.
Pending court approvals and customary approvals, the companies expect the transaction to be effective on or around January 18, at which time Corvus will be delisted from the TSX and Nasdaq.
Corvus is developing three gold/silver projects in the Beatty district of Nevada.
The transaction will deliver a district-wide consolidation in Nevada, enabling the Beatty district to become AngloGold Ashanti’s potential Tier 1 asset.
“Placing these assets under single ownership will allow for significantly reduced capital intensity to develop the district with a phased and modular approach,” says AngloGold CEO Alberto Calderon.