Mutiny Gold (ASX:MYG) is now 69% owned by Doray Minerals (ASX:DRM) as shareholders continue to accept the offer.
All Mutiny directors have accepted the offer of one Doray share for every 9.5 Mutiny shares.
In late October when the deal was announced, this valued Mutiny shares at $0.054, or an enterprise value of $44 million.
Mutiny last traded at $0.039, with Doray at $0.425.
The companies have said that the merger with create a leading, mid-tier high-grade Western Australian gold company with substantial growth prospects.
