Proxy Advisor ISS Criticizes TNR Gold Board's Actions

Institutional Shareholder Services (ISS), a prominent independent proxy advisory firm, has issued a critical report regarding the governance and actions of TNR Gold's board. The advisory firm recommended that shareholders vote on the proxy submitted by Eucalyptus Resources, highlighting significant concerns about TNR Gold's recent performance.

According to the ISS report, the board has "made numerous missteps since Kirill became CEO/chair." The firm specifically cited TNR Gold's "concerning track record of disenfranchising shareholders" as a key reason for its recommendation. This assessment suggests a pattern of decisions that have potentially undermined shareholder rights and engagement.

The specific details of the "deeply troubling facts and rationales" have not been fully disclosed but the ISS recommendation to vote with Eucalyptus Resources indicates a strong divergence of opinion on the company's strategic direction and operational management.

This development puts pressure on TNR Gold's management and board, as the recommendations of proxy advisors like ISS often influence institutional investor voting decisions. Shareholders are expected to consider ISS's findings alongside Eucalyptus Resources' proposals when casting their votes.