Shareholders demand information from Shore Gold
Shore Gold shareholders expressed their frustrations at the annual general meeting in Saskatoon on Tuesday.
"Disregard for the shareholders best interests on an ongoing basis, that's how we see it," said Dave Wright with the SGF shareholders association.
The group is demanding better communication from management after several key deadlines for the Fort a la Corne diamond mining project near Prince Albert were missed.
"It becomes very problematic to make an informed and intelligent decision as a shareholder when you don't have good information," Wright said.
A motion was introduced at the meeting to make their point.
"That the three independent board members establish a clearly defined set of measurable goals for the current CEO within 30 days, and publish the same. Deadline to achieve said goals will be Oct. 31, 2012. Neither further bonus, nor stock options shall be granted if these goals are not met," read the motion from the SGF Shareholders Association.
Even though it was defeated, the motion will act as a stepping stone, Wright said.
The association has concerns with the current management structure and would like to see it changed.
Shore Gold's CEO Ken McNeil declined to comment.
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