Advisory firms find only benefits to Mason, Nouveau Monde JV
Independent proxy voting advisory firms Institutional Shareholder Services (ISS) and Glass Lewis have advised Canadian corporation Mason Graphite shareholders to vote in favour of the option and joint venture (JV) agreement intended with NYSE-listed Nouveau Monde Graphite (NMG), as well as a change of business.
The advisory firms believe Mason stands to benefit from NMG’s expertise and commercialisation capabilities, and allow for maximum potential realisation of the Lac Guéret property – by increasing its scope of production to at least 250 000 t/y of graphite concentrate.
The deal will also afford Mason access to NMG’s demonstration plant that is necessary to advance the project.
“The JV agreement makes strategic sense as it enables the company to act on the new company business model, while minimising the costs associated with exploration and further development.
“The company appears to have conducted a lengthy strategic alternative review and in light of there being no significant governance concerns, shareholder approval of this resolution is warranted,” notes ISS.
NMG plans on investing C$10-million on the Lac Guéret project prior to the formation of the JV, C$2.5-million in equity of Mason at C$0.50 apiece, and C$2.5-million in equity of Mason at the formation of a JV.
As of July 4, the total votes cast represent 12.98% of the total shares issued and outstanding and both resolutions are being supported by 99.7% of the vote cast.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
SBS® Tanks is a leading provider of innovative water security solutions with offices in Southern Africa, East and West Africa, the USA and an...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
