Shareholders of Australian-based Golden Shamrock Mines (GSX-T) have approved its acquisition by Ghana-based Ashanti Goldfields (ASL-N).
Approval from the Supreme Court of Victoria in Australia was expected to have passed by presstime.
Golden Shamrock shareholders will receive one share of Ashanti for every 22.5 shares of the Aussie company.
Golden Shamrock’s primary assets include the Iduapriem gold mine in Ghana, and the Siguiri 1 project in Guinea. Ashanti intends to divest itself of Golden Shamrock’s copper mine in Australia, known as the Cobar.
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