Canadian Mining Journal


SolGold’s Nick Mather faces shareholder anger at AGM

Two years ago The Northern Miner named Nick Mather, president and CEO of Australian junior SolGold (TSX: SOLG; LSE: SOLG), as its Mining Man of the Year for his role as the driving force behind the world-class Alpala gold-copper deposit at its Cascabel project in Imbabura province in northern Ecuador. The company has attracted major companies as shareholders, including BHP (NYSE: BHP; LSE: BHP) with a 13.57% stake and Newcrest Mining (TSX: NCM; AS: NCM) with 13.49%.

But delays at the project this year and Mather’s decision in May to raise money through a US$150-million royalty and streaming agreement with Franco-Nevada (TSX: FNV; NYSE: FNV) elicited criticism from some of the company’s shareholders.

That displeasure was voiced at SolGold’s annual general meeting on Dec. 17, when 44.75% of the company’s shareholders voted against Mather’s reappointment to the board of directors.

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