TORONTO, May 28, 2024
/CNW/ - Mandalay Resources Corporation ("Mandalay" or "the
Company") (TSX: MND) (OTCQB: MNDJF) is pleased to announce the
results of its Annual General Meeting of Shareholders (the
"Meeting") held today virtually. All the resolutions presented at
the Meeting were approved by the shareholders, with the votes cast
by proxy representing 39.14% of the total shares outstanding as of
the record date.
Election of Directors
The number of directors was fixed at seven members and each of
the seven nominees listed in the Company's Management Information
Circular dated April 18, 2024, were
re-elected to the Company's Board of Directors. Abraham Jonker remains the lead independent
director and Bradford Mills
continues as Chair. Results of the votes cast by proxy are set out
below.
|
Resolution
|
Votes Cast by
Proxy
For
|
% For
|
Votes Cast by
Proxy
Withheld
|
%
Withheld
|
|
Bradford A.
Mills
|
36,400,647
|
99.91 %
|
34,611
|
0.09 %
|
|
Abraham
Jonker
|
36,412,170
|
99.94 %
|
23,088
|
0.06 %
|
|
Amy Freedman
|
36,289,155
|
99.60 %
|
146,103
|
0.40 %
|
|
Dominic
Duffy
|
36,302,582
|
99.64 %
|
132,676
|
0.36 %
|
|
Frazer
Bourchier
|
36,410,390
|
99.93 %
|
24,868
|
0.07 %
|
|
Julie
Galloway
|
36,411,330
|
99.93 %
|
23,928
|
0.07 %
|
|
Robert Doyle
|
35,882,067
|
98.48 %
|
553,191
|
1.52 %
|
Appointment of Auditors
KPMG LLP was appointed as the auditor of the Company to hold
office until the close of the next Annual Meeting of the
Shareholders, or until their successor is otherwise appointed, and
the directors were authorized to fix the auditor's remuneration.
Results of the votes cast by proxy are set out below.
|
Resolution
|
Votes Cast by
Proxy
For
|
% For
|
Votes Cast by
Proxy
Withheld
|
%
Withheld
|
|
Appointment of
Auditors
|
36,413,358
|
99.94 %
|
21,900
|
0.06 %
|
About Mandalay Resources
Corporation:
Mandalay Resources is a Canadian-based natural resource company
with producing assets in Australia
(Costerfield gold-antimony mine) and Sweden (Björkdal gold mine). The Company is
focused on growing its production and reducing costs to generate
significant positive cashflow. Mandalay is committed to operating
safely and in an environmentally responsible manner, while
developing a high level of community and employee engagement.
Mandalay's mission is to create shareholder value through the
profitable operation and regional exploration programs, at both its
Costerfield and Björkdal mines. Currently, the Company's main
objectives are to continue mining the high-grade Youle and Shepherd
veins at Costerfield, and to extend Mineral Reserves. At Björkdal,
the Company will aim to increase production from the Eastern
Extension area and other higher-grade areas in the coming years, in
order to maximize profit margins from the mine.
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SOURCE Mandalay Resources Corporation