BRB 0.00% 47.5¢ breaker resources nl

Cheque collectors take notice, Paulson on the war path

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    Lord Boothby once said "being a company director is akin to a nice warm bath" well the lads (no women) at Breaker better take notice - Paulson is on the war path...

    Midas Gold Receives Shareholder Meeting Requisition

    VANCOUVER, BC, Nov. 20, 2020 /CNW/ - Midas Gold Corp. (TSX: MAX) (OTCQX: MDRPF) "Midas Gold" or the "Company") announced today that it has been provided with a shareholder meeting requisition notice (the "Requisition") dated November 20, 2020 from Paulson & Co. Inc. ("Paulson"), as manager of funds holding not less than 1/20th of the issued and outstanding shares of Midas Gold, requesting that the directors of the Company call a meeting of the shareholders of the Company for the purpose of (a) removing five directors; (b) fixing the number of directors at eight; and (c) electing five nominee directors of Paulson.

    The Company is reviewing the Requisition with its professional advisors and will respond appropriately in due course as provided under applicable law, at which time further disclosure will be forthcoming. In the meantime, there is no need for shareholders to take any action at this time.


    With ~10% of the register (plus friendly ears), nothing should focus the mindset of Breaker's directors to start delivering. We have heard enough but now it is time for action
    - The stock is trading well below peers (Breakers own presentations)
    - The IR function is 18th century and well behind the pumpers a Bellevue
    - Breaker has one of the best assets in Western Australia, just no apparent strategy to realise value or bridge to production

    What is the timing for the release of a detailed study?
    Has Breaker appointed a bank/advisor to find a development partner or full sale?
    Do directors see themselves as mine builders?

    Shareholders need to find a properly informed benchmark of value - Study NPV, sell-down see-through value

    If the current directors can't deliver perhaps its time for Paulson to rally the troops and lead the charge...

 
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Currently unlisted public company.

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