Eastmain Resources ER Clearwater

Columbus Gold (CGT.TO) seems to be working on an ‘after Paul Isnard’-plan as the company has announced it’s proposing to add five new directors to the board of directors of Eastmain Resources (ER.TO). Columbus Gold owns approximately 2% of Eastmain Resources and it says other shareholders are also concerned with the lack of progress at Eastmain Resources’ flagship project; the Clearwater gold project in Québec, Canada.

Columbus has proposed to add Robert Giustra (Columbus’ CEO and Chairman), Peter Gianulis, Shawn Wallace (previously involved with success-stories Asanko Gold (AKG.TO, AKG) and Cayden Resources, acquired by Agnico-Eagle Mines (AEM.TO, AEM)), Geoff Stanley and Michel Jebrak. Laurence Curtis, current director of Eastmain Resources, would be welcome to join the renewed board as sixth director.

It will be interesting to see if Columbus Gold’s proposal will gain momentum in the next few days and weeks as Eastmain’s general meeting is scheduled to be held on April 25th.

Go to Columbus’ website
The author holds a long position in Columbus Gold. Columbus Gold currently no longer is a sponsor of the website. Please read the disclaimer

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