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Kirkland’s deal for Detour Gold wins shareholder approval

Kirkland Lake Gold (KL -2.2%) has clinched its C$4.4B takeover of Detour Gold (OTCPK:DRGDF -1.6%) with the support of more than two-thirds of Detour shareholders, The Globe and Mail reports.

Kirkland reportedly won the backing of 86% of Detour shareholders at a special meeting.

By buying Detour, Kirkland will see its reserves rise materially but its average cost to mine an ounce of gold will rise, which had sparked criticism among some investors.

Source: M A News on Seeking Alpha