Shareholders approve Malagasy's change of pace

ASX-listed Malagasy Minerals would fast-track its plans to become a Western Australian gold producer, after shareholders approved the acquisition of the Karlawinda project. Malagasy has previously agreed to acquire unlisted Greenmount Resources, which owns the Karlawinda project, for 171.6-million shares in Malagasy, amounting to a 50% interest in the company’s issued capital.