Shareholder engagement is on the rise with the objective of aligning company incentives and goals with those of their shareholders.
Earlier in this decade shareholder returns suffered due to misguided acquisitions, indebtedness and poor operating performance. Although low gold prices have enforced financial and operating discipline on the gold industry, we never want to return to the poor business practices that characterized the boom years.
MVIS Global Junior Gold Miners Index vs.
NYSE Arca Gold Miners Index
Source: MV Index Solutions, 2019
While we have become more engaged with boards and managements with the goal of maintaining discipline throughout the gold cycle, we have also seen similar increases in engagement from other gold investors.
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