Kirkland Lake shareholders vote in favour of C$1bn Newmarket deal

Shareholders of Canadian gold producers Kirkland Lake Gold and Newmarket Gold have approved the plan of arrangement to merge the two companies. The contentious all-scrip deal will create a new low-cost miner called Kirkland Lake Gold with a projected market capitalisation of about C$2.4-billion (when first announced on September 29) and yearly output of more than 500 000 oz of gold, spread across seven mines and five mills in Ontario and Australia.