Eldorado Gold Corporation (TSX: ELD, NYSE: EGO) has cleared a major hurdle in its pursuit of Foran Mining Corporation (TSX: FOM, OTCQX: FMCXF), with shareholders officially approving the issuance of common shares to facilitate the transaction. At a special meeting held on April 7, 2026, the resolution secured strong support, with 84.21% of votes cast in favour. The meeting saw significant participation, with over 149 million common shares voted, representing roughly 75% of the company's outstanding equity.

The deal, first announced on February 2, 2026, involves a transaction valued at approximately C$3.8 billion. The acquisition centers on the McIlvenna Bay project in Saskatchewan, a cornerstone asset that Eldorado management believes will bolster the company’s production profile and long-term development pipeline.

Regarding the positive vote, Eldorado Chief Executive Officer George Burns highlighted the strategic importance of the consolidation:

"This strong level of shareholder support marks an important milestone in progress towards completion of the Arrangement with Foran," — George Burns, Chief Executive Officer

"The addition of McIlvenna Bay will enhance our portfolio with a high-quality, long-life Canadian asset that complements our existing operations and strengthens our position as a disciplined, growth-oriented gold and copper producer." — George Burns, Chief Executive Officer

The transaction remains subject to final court approval from the Supreme Court of British Columbia, with a hearing currently scheduled for April 9, 2026. Assuming this final regulatory step proceeds as expected, Eldorado anticipates closing the arrangement on or about April 14, 2026.

Foran Mining shareholders have also voted to approve the arrangement, aligning both parties ahead of the expected mid-April completion date. This acquisition reinforces Eldorado’s stated strategy of expanding its exposure to Canadian base and precious metals assets, adding to its existing operational portfolio in Canada, Greece, and Türkiye. Following the vote, the company will focus on satisfying the remaining customary closing conditions to finalize the integration of the project into its broader mining operations.

Read the full announcement: Eldorado Gold Reports Voting Results from Special Meeting of Shareholders