The Conversation (0)
Western Copper and Gold (TSX:WRN) reported that the following were elected to its Board of Directors during the Company’s Annual General Meeting last June 24: Dale Corman, Robert Gayton, Archie Lang, David Williams and Klaus Zeitler. PricewaterhouseCoopers LLP was also re-elected as auditors of the Company. Western Copper and Gold also provided an update on activities at the Casino Project: engineering aspects are being moved forward, as well as financing options.
As quoted in the press release:
ANNUAL GENERAL MEETING
A total of 32,825,729 common shares were represented at the AGM, representing 34.85% of the votes attached to all outstanding common shares as at the record date. All of the matters submitted to the shareholders for approval as set out in the Company’s notice of meeting and information circular, both dated May 11, 2015, were approved by the requisite majority of votes cast at the AGM.
Shareholders voted in favour of setting the number of directors at five (5) and elected all incumbent directors. The details of the voting results for the election are set out below:
Director Votes For % For Votes Withheld Withheld Dale Corman 22,685,496 99.30% 159,995 0.70% Robert Gayton 22,678,986 99.27% 166,505 0.73% Archie Lang 22,703,494 99.38% 141,997 0.62% David Williams 22,640,161 99.10% 205,330 0.90% Klaus Zeitler 22,391,091 98.01% 454,400 1.99% Shareholders also approved the re-appointment of PricewaterhouseCoopers LLP as auditors of the Company for the ensuing year at the remuneration to be set by the directors, and the ratification of the Company’s Stock Option Plan.
The Company’s report of voting results will be available on SEDAR (www.sedar.com), EDGAR (www.sec.gov/edgar.shtml), and on the Company’s website.
CASINO PROJECT UPDATE
Western continues to work with stakeholders and assessment bodies to advance the Casino Project through the permitting process. The Company is currently addressing matters contained in the most recent information request received from the Yukon Environmental and Socio-economic Assessment Board (“YESAB”) on May 15, 2015. In this regard, Western is in continuous dialogue with YESAB and other regulatory agencies.
Western is advancing a number of engineering aspects of the project as well as actively pursuing options for project financing.
CHAIRMAN’S MESSAGE
Dale Corman, Western’s Chairman and Chief Executive Officer, provided a brief project update and commodity market commentary at the AGM:
“The negative sentiment in the commodity markets continued in 2014, driving down commodity prices. Despite this negative trend, commodity experts are almost universally of the opinion that copper supply will significantly lag demand in 2016 as a result of underinvestment in new mines. It will take a decade, tens of billions of dollars of investment, and much higher copper prices for supply to catch up with demand. As the world’s copper supply dwindles, Casino’s value will only increase.
We are grateful for the continued support of our shareholders, employees, the valued communities surrounding Casino, and the Yukon and First Nation governments. We would not be able to make the progress we are making without the backing of all of these groups.”
Mr. Corman’s thoughts are further detailed in his Letter to Shareholders, which is available at www.westerncopperandgold.com/events/agm-2015.
Western Copper and Gold Chairman and CEO, Dale Corman, said:
The negative sentiment in the commodity markets continued in 2014, driving down commodity prices. Despite this negative trend, commodity experts are almost universally of the opinion that copper supply will significantly lag demand in 2016 as a result of underinvestment in new mines. It will take a decade, tens of billions of dollars of investment, and much higher copper prices for supply to catch up with demand. As the world’s copper supply dwindles, Casino’s value will only increase. We are grateful for the continued support of our shareholders, employees, the valued communities surrounding Casino, and the Yukon and First Nation governments. We would not be able to make the progress we are making without the backing of all of these groups.
Click here to read the Western Copper and Gold Corporation (TSX:WRN) press release
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