Shareholders give nod to merger of Chase, Delta

Shareholders of Chase Resource (GQS-T) and Delta Gold Mining (DTG-V) have approved a merger agreement.

Under the proposed amalgamation, Chase shareholders will receive one share of the new company for every share held. Delta Gold shareholders will receive one share of the new company for every two shares held.

The new company, which will retain the name Chase Resource, will hold a 77.5% controlling interest in the Cikondang gold project in West Java, Indonesia, as well as more than 20 exploration projects in the Philippines.

The merger remains subject to regulatory and court approval.