Wedoany.com Report-Oct. 23, Augusta Gold Corp. (TSX: G) has obtained shareholder approval for its planned acquisition by AngloGold Ashanti (JSE: ANG; NYSE: AU), following a special meeting held earlier this week. Nearly 70% of Augusta’s outstanding shares were represented at the meeting, and over 99.3% voted in favor of the merger resolution. With this approval, the transaction is expected to close around October 23, pending the fulfillment of remaining conditions.

Drilling at the Bullfrog property.

In mid-July 2025, AngloGold Ashanti entered an agreement to acquire Vancouver-based Augusta Gold in an all-cash transaction valued at C$152 million ($108.7 million). The acquisition forms part of AngloGold’s strategy to expand and consolidate its landholdings in Nevada’s Beatty gold district, one of the fastest-growing gold regions in the United States.

Augusta’s main assets are the Reward and Bullfrog gold projects, both situated adjacent to AngloGold’s existing mining claims in the district. The purchase price of C$1.70 per share represented a 28% premium at the time of the announcement. As of this week, Augusta’s stock trades at C$1.69 per share, giving the company a market capitalization of approximately C$145.2 million ($103.8 million).

Alberto Calderon, Chief Executive Officer of AngloGold Ashanti, stated: “This acquisition reinforces the value we see in one of North America’s most prolific gold districts. Securing these properties will not only solidify our leading position in the most important new gold district in the U.S., but will also improve our ability to develop the region under an integrated plan.”

The transaction strengthens AngloGold’s long-term strategy to develop a coordinated mining hub in Nevada, enhancing operational synergies between its projects. The company’s Nevada portfolio already includes the Arthur project, which contains an inferred mineral resource of 12.9 million ounces, and the North Bullfrog project, expected to produce an average of 76,000 ounces of gold annually over its projected 11-year mine life.

According to Raj Ray, a mining analyst at BMO Capital Markets, the acquisition of Augusta “gives the company some synergies” for its ongoing Nevada developments. The integration of Augusta’s adjacent claims with AngloGold’s existing assets is anticipated to reduce exploration overlap, optimize infrastructure use, and lower long-term production costs.

The merger reflects AngloGold Ashanti’s continued focus on expanding its North American footprint through strategic acquisitions and resource consolidation. For Augusta Gold, the transaction provides shareholders with immediate value realization and positions its Nevada assets within a larger, well-capitalized global mining enterprise.

Upon completion, the deal will mark another step in AngloGold’s efforts to strengthen its resource base in Nevada’s Beatty district, aligning with its broader objective of creating an efficient, sustainable, and scalable gold production platform in the region.