Just got this in.
Premier Royalty's Buffelsfontein to cease production
2013-05-14 11:16 PT - News Release
Mr. Abraham Drost reports
PREMIER ROYALTY ANNOUNCES VILLAGE MAIN REEF TO COMMENCE PROCESS TO CEASE PRODUCTION AT THE BUFFELSFONTEIN MINE IN SOUTH AFRICA AND RESULTS OF ANNUAL GENERAL MEETING
Village Main Reef Ltd. will commence with the consultation process required to cease production at the operations of the Buffelsfontein mine in South Africa, on which Premier Royalty Inc. has a 1-per-cent net smelter return royalty.
Premier Royalty is monitoring the developments with Buffelsfontein mine to determine the timing and impact of the cessation of production at the mine. The Buffelsfonstein NSR represented approximately 13 per cent of revenue of the company for the year ended Dec. 31, 2012. Based on operator guidance, Premier Royalty had estimated that the Buffelfontein NSR proceeds will represent approximately 7 per cent of gold ounces attributable and related revenues to it in 2013.
Premier Royalty also announces that all matters presented for approval at the annual meeting of shareholders held on May 14, 2013, have been duly authorized and approved, as follows:
- Election of all management nominees to the board of directors of the company;
- Appointment of Grant Thornton LLP as auditor of the company for the ensuing year and authorization of the directors to fix its remuneration.
Detailed voting results for the election of directors are shown in the attached table.
Name Shares voted (78 per cent of issued and outstanding) Shares withheldDavid Awram 55,787,126 5,500Marcel De Groot 55,787,126 5,500Abraham Drost 55,792,626 0Greg Smith 55,787,126 5,500Hugh Snyder 55,792,626 0
We seek Safe Harbor.