NCMGY - SolGold CEO barely hangs on after shareholder vote

SolGold ([[SLGGF]] +3.8%) CEO Nick Mather was handed a strong rebuke today as ~45% of the company's shareholders voted against his reappointment to the board.SolGold, backed by [[BHP]] and Newcrest Mining (NCMGY), has fought with two of its largest shareholders over funding for its big Ecuador copper-gold project.The company agreed in May to a financing package of as much as $150M and a $15M bridge loan for its Alpala project with Franco-Nevada, defying Newcrest, which had urged it to raise funds through an equity offering.SolGold said recently it would be unable to complete the pre-feasibility study for the Alpala project this year as planned.

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SolGold CEO barely hangs on after shareholder vote