(jckonline.com) - In the last few weeks, a group of investors, led by Toronto-based K2 & Associates, has grabbed 5.4 percent of Dominion Diamond, becoming the latest activist investor to target a company in our industry. K2’s public criticism of the Canadian diamond miner’s management seemed to spark a flurry of announcements: K2 portfolio manager Josef Vejvoda joined the board, two directors resigned, and its respected longtime chairman Bob Gannicott stepped down. (Gannicott has had health issues.) The company is also exploring a possible sale, Bloomberg says. In theory, activist investors would seem to be a positive force. They give the business a pair of fresh eyes. They often target bloated executive salaries and perks. In reality, their track record is decidedly mixed.
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Today
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Today
De Beers' Q3 output falls 11%, assumes full ownership of Gahcho Kue
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Today
Critical Metals gets formal approval for Tanbreez rare earth mine from Greenland authorities
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Today
Kyrgyzstan begun construction of a $556 million gold mining complex
The project is being implemented by Chaarat ZAAV, a joint venture between Canada’s Silvercorp Metals (70 %) and the state owned Kyrgyzaltyn (30 %). According to Silvercorp Metals’ calculations, once it reaches its design capacity, the enterprise will...
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