BullionStar News
Writers Torgny Persson, Koos Jansen
& Hong Kang See

Paulson’s Shareholders Gold Council finally launches after initial delays

Monday the 24th of September 2018
In September 2017, news emerged of a plan to launch a broad-based "Shareholders’ Gold Council" to address poor shareholder returns and under-performance in the gold mining sector. This plan was spearheaded by well-known hedge fund Paulson & Co and its founder John Paulson. Initially earmarked for a launch in June 2018 or early July, BullionStar covered this new Council in detail in a late June article titled "The Shareholders Gold Council (SGC) – “Just don’t mention the Gold Price”.

The aims of the new Council include shareholder representation on company boards, company accountability to shareholders, the removal of poor performing CEOs and board members, and the alignment of CEO compensation with share price performance. All of these aims, it should be noted, seek to reduce the cost base of miners and have little effect on top line revenue or the price that a gold mining company can sell its output for.

Presentation by Paulson & Co to Denver Gold Forum, September 2017, that kicked off the idea for the new Shareholders Gold Council

The new shareholder coalition will also make recommendations on board appointments, CEO pay, company takeovers, and make recommendations on AGM and EGM voting decisions, similar to the myriad reports that are churned out daily by proxy advisory firms Institutional Shareholder Services(ISS) and Glass, Lewis and Co.

16 Members, 4 of which are Anonymous

Throughout the... Continue Reading
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