Paulson is something out of comedy central. Is he tryingto deflect attention from his own far worse mismanagement and falling hedge
fund. He's the one that should be replaced. He put DGC in its hedge fund, why
doesn't he just replace or fire himself. If he doesn't like DGC so much sell it,
and find something that is suppose to act much better than the down condition
of gold and most precious metal stocks?
Here's some more of his latest antics and hijinks.
ie
Detour dissident (Paulson) encourages holders to change board 2018-11-19 09:20 ET - Shareholders Letter https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aDGC-2686125&symbol=DGC®ion=C
Mr. John Paulson of Paulson reports PAULSON ISSUES LETTER TO SHAREHOLDERS AND FILES PROXY CIRCULAR; POSITIVE CHANGE IS FINALLY COMING TO DETOUR GOLD
John Paulson, president of Paulson & Co. Inc., one of the largest, long-term share
holders in Detour Gold Corp., has written to shareholders and filed an amended
and restated proxy circular in advance of the special meeting of shareholders
scheduled to be held on Dec. 11, 2018. (me- wow, on who's authority. Is that
even legal. Where are the straight jackets to take him away? Is he trying to so muddy
the waters or rig his amended proxy, that keeps everything in the state of extended
limbo, and time after time of his interferring machinations. And who is this fanastic
company he's trying to merger DGC with? Barrick didn't want it when we thought it
was Barrick. Barrick said that DGC wasn't nearly a quality enough gold company for
a merger. What is going on in his Paulson's and world his living in).
Continuing Paulson's circular:
"In its letter, Paulson emphasizes the need to replace Alex Morrison, Michael
Kenyon and the other incumbent directors and highlights recent actions taken by
the Board that underscore its ongoing and long-term entrenchment and self-
enriching practices, including the Alex Morrison led Board's approval of Michael
Kenyon's $1.5 million salary. Paulson also notes that it currently owns 22 times
the number of shares that current Board members hold. The Board and manage
ment of Detour Gold have long chosen to sell their generous stock rewards rather
than hold shares in the Company, the best reflection of their belief in their own
long-term strategy." (me- Hey Paulson, this isn't brain surgery. DGC has an awful
lot of lo grade gold. It's not a super fantastic big gold company, just a solid big low
grade gold company that will do more than fine, when and if gold bubbles again.
Sort of like your hedge funds that is in the doldrums right now from its hey day,
when QE money printing at low interest rates made everyone look good except
the precious metal companies that do well when that market setup is over, like
the investment community is finding out now. The bubble equities market is over
and the bubble gold and precious metals market is coming. I guess some big
player whoever it is, wants DGC on the cheap, before and the whole gold and
precious metals market, takes off). "
Continuing after my brief thoughts again, Paulson acts like he's already in charge
by circulating an alternative proxy kit, as if he has the authority to do it in advance
of having the authority to do it? Mind boggling!!!!!
ie
"Detour Gold shareholders now have the opportunity to elect new independent,
experienced and motived directors. To ensure your vote is counted, please vote
using the GOLD form of proxy or VIF and submit prior to 5:00 p.m. (Toronto time)
on Thursday, December 6, 2018. Please vote all GOLD forms of proxy or GOLD
VIFs that you receive to ensure that all of your Common Shares are counted.
You should discard any blue management proxies or VIFs that you receive.
Paulson appreciates the overwhelming support that it has received during this
process that Detour Gold's Board of Directors have done their best to delay and
impede. Now, it is finally time to vote for a better future at Detour Gold by using
the GOLD form proxy or VIF for positive change. "
me- why do media outlets and market give him credence, and not just dismiss
the ravings and actions of a maniac?
All in my opinion of a non practicing psychologist, legal counsellor or brokerage
advisor. Just a simple investor, wondering what the heck is Paulson doing, and
why is he being allowed to do it?