“No Muddy Waters director will be compensated, in contrast to the present situation where insiders appear to have treated both equity and cash as Monopoly money,” Carson Block, founder and chief investment officer of Muddy Waters, told Reuters in an emailed statement.
Block is preparing for a public showdown with the junior gold miner, as shareholders vote on June 5 proposal to remove the current board.
Last month, Muddy Waters said its clients and principals had significant investments in Mayfair Gold and that the company needs a team that is focused on all stakeholders and operating under high standards of governance. In March, it said that in the future the firm could increase or decrease its control or direction over securities of the company through open market transactions, private agreements or otherwise.
Mayfair Gold declined to comment.
Mayfair Gold’s board in January raised its CEO’s annual compensation from…
