TORONTO & VANCOUVER – Shareholders of BEMA GOLD CORP. have voted 91% in favour of the takeover proposed by KINROSS GOLD CORP. Under terms of the agreement, Bema shareholders will receive 0.4447 of a Kinross share and $0.01 for each Bema share. The deal is worth US$3.1 billion and will give the combined company a capitalization of US$7.9 billion.
The combined company, which will operate under the Kinross name, will count among its resources nine mines in five countries and 4,700 employees. Kinross’ production in 2006 was estimated to be 1.8 million oz of gold equivalent, and that number should grow to 2.8 million oz in 2009. The move also consolidates ownership of the Refugio gold mine in Chile.
Visit www.Kinross.com to view the company video.