The Gruyere gold mine is now under the full control of South Africa’s Gold Fields after Gold Road Resources’ shareholders gave a multi-billion-dollar acquisition the thumbs-up.
More than 99 per cent of votes cast were in favour of the $3.8 billion cash and scrip buyout.
Gold Road and Gold Fields split the riches from Gruyere evenly, but the latter has always operated the large Goldfields mine.
Johannesburg-listed Gold Fields had initially sought to acquire West Perth’s Gold Road with a $3.31b move the takeover target’s chief Duncan Gibbs in March labelled as both “low ball” and a “bear-hug”.
A new and improved deal was agreed in May, which put a pin in tensions that had festered since first gold was poured at Gruyere in 2019.
Mr Gibbs complained for years that Gold Fields was not gett