Rk it sounds as I bhp already have voice/voices on the board.
If they could get 1 or 2 more such people who can be swayed all of a sudden things look like a bhp leaning board.
Maybe then Bhp and Ncm add there board members(if that is still an option) and hey presto bhp in control.
I'm not sure if that's all possible but I'm not a ceo of a gold miner who is being bullied by a large multi national , so it's not really my problem.
Covgas he implies that people are praising the board while filling their pockets and doing nothing for the sp?
I disagree and see most including myself are not particularly happy with the boards performance and not praising them.
This does not mean I won't support them as there are dark forces at work here and plenty of games being played by both sides.
As for free shares hopefully that is a perk that will not be put forward this year and if it is will not get my support.
Colonel you are clearly being strung along by Bhp at the moment I'm afraid.
They do not have your interests in mind only their own.
The situation we find ourselves in is due to Bhp interference at the last Agm and the same will happen this year if people are not careful.
SolGold Chairman says BHP has been canvassing shareholders
SolGold CEO was forced to stand down after investor rebellion
Australia’s SolGold Plc has rebuked rival BHP Group, the world’s biggest mining company, for allegedly meddling in the reappointment of its board members.
“It has come to my attention in recent weeks that one of SolGold’s significant shareholders, BHP Group Ltd., has been actively canvassing certain shareholders and members of the board” ahead of an upcoming meeting, Chairman Liam Twigger said in a letter to investors on Wednesday.
He said that putting the entire board up for re-election next month would “destabilize” SolGold and undermine the process to find a new chief executive.
As SolGold’s biggest shareholder, BHP has long been seen as a likely buyer for the company, yet the relationship has not always been smooth. Today’s barb from Twigger is likely to flare those tensions, with the chairman suggesting that if BHP wants to influence the business, it should make an offer to buy it.
“Ultimately, if a party wants control or to significantly influence the development of your company, the party should put forward an offer that results in all shareholders benefiting from a premium that reflects the value of achieving control or heightened influence,” Twigger said in the letter.
A spokesman for BHP declined to comment.
Upcoming Votes
SolGold, worth $800 million, has drawn attention from across the industry because of the size of its Cascabel copper project in Ecuador. BHP owns 13.5% of the company, and the prospects of a takeover are likely to increase once SolGold’s long-delayed pre-feasibility study is complete.
SolGold is holding its annual general meeting next month. Twigger proposed that in order to maintain stability at the company, only three of the directors -- who didn’t stand for re-election last year -- and the company’s new CEO will face a vote at the shareholder meeting. The six other board members, including Nick Mather, the company’s co-founder and one of its biggest shareholders, who were re-elected last year will not.
Mather stood down earlier this year after he won the support of just 55% of investors. That result suggested that some of SolGold’s biggest shareholders voted against his reappointment. He continues to sit on the company’s board.
So in nut shell, without the resolution for equity release (more shares etc) SOLG are hamstrung going forwards.
And what stops us raising cash other ways?
if its Bhp will to hamstring us they are surely forcing this upon us. Not likely imo considering how well the Franco Nevada deal went down with them.
To be honest I'm happy if they packed up and moved on even if the sp is decimated in the short term.....again I don't think that's likely either.
So obvious Bbg and has been for some time but thanks for calling them out.
How low some are willing to go....shame on them.
https://youtu.be/3XGAmPRxV48