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Cornerstone Capital Resources has announced it aim to replace the entire board of SolGold by calling a general meeting shareholders meeting, having rejected a hostile takeover offer from the company. The outcome could determine the future development direction of the Alpala deposit, part of the Cascabel copper-gold project in Ecuador, held by local subsidiary Exploraciones Novomining in which Cornerstone owns 15% and SolGold 85%.
Battle heats up for Cascabel in Ecuador
"The time has come to put an end to SolGold's suspect corporate governance and self-dealing practices," Cornerstone chair Greg Chamandy said in a statement.
Delayed Alpala PFS to be out ASAP
SolGold seeking phased Cascabel
SolGold and Cornerstone bury the hatchet
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