Shareholders of Papillion Resources voted 99.5% in favour of merging with Vancouver-based B2Gold Corp. (TSX:BTO) on Monday (September 15).
This comes after B2Gold’s shareholders voted Friday (September 12) to approve the US$570-million acquisition.
The transaction, which was first announced in June, still must go through court and regulatory approvals, but it is expected to be complete by October 3.
The main target of B2Gold’s acquisition is Papillon’s Fekola project in Mali.
B2Gold was B.C.’s third fastest-growing company in 2013, according to data compiled by Business in Vancouver.
Revenues at the gold mining firm soared 2,890% over the past five years, rising from $6.2 million in 2009 to $185.8 million in 2013.
B2Gold’s main assets include a pair of gold mines in Nicaragua and a mine in the Philippines.
Despite a 24% drop in average realized goal price in 2013, the company saw revenue go up 95% year-over-year.
The Vancouver-based miner said the significant jump was driven mostly by increased production at its Masbate Mine in the Philippines.
In 2014, consolidated production at all three of B2Gold’s main mines is projected to increase by 8-15% with a total of 395,000 to 420,000 ounces of gold.
