TORONTO -- Guyana Goldfields Inc. says it will review an official request for a special shareholder meeting made by investors concerned about the company's share performance.
The investors say they want the meeting called to replace the board of directors in the latest of several recent shareholder actions in the mining industry.
The group of investors, including former executive chairman and founder Patrick Sheridan, Northfield Capital Corp., Robert Cudney, Donald Ross, and Gretchen Ross, together own about 5.4 per cent of the outstanding shares.
They want to replace the board with six independent directors as well as establish an ethics committee and launch a strategic review of the company.
The investors say the current board has governed over a steep decline in the share price, which has dropped from around $5 in June to $1.69 on Thursday. It briefly peaked at $10.11 in mid-2016.
Guyana Goldfields, which operates the Aurora gold mine in Guyana, says its board remains committed to constructive dialogue and will respond to the investor request in due course.
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