TNR Gold Secures ISS Support for Board Retention
TNR Gold Corp has received backing from Institutional Shareholder Services (ISS) in its ongoing board battle. ISS recommended shareholders elect Kirill Klip, citing his institutional knowledge and the company's value creation through a private placement with Altius Minerals as key reasons. The advisory firm criticized Eucalyptus Resources Opportunities Fund 1, LP for lacking an adequate go-forward plan. TNR Gold’s board accused Eucalyptus of seeking control without offering shareholders a premium or detailed strategy to create value and replace the entire board ahead of potential royalty revenue. ISS noted that TNR's share price increased by 30% following its private placement with Altius Minerals, maintaining higher trading levels since then. Klip emphasized confidence in the company’s royalty-focused strategy, validated by industry players like Ganfeng Lithium at Mariana lithium project and other key assets.
