Result of AGM
Unicorn Mineral Resources PLC announced the results of its Annual General Meeting, where all resolutions were duly passed. Resolutions 1 through 4 received 13,520,216 votes in favor and zero against. Resolutions 5 and 6 each received 13,153,549 votes in favor and 366,667 votes against. The company is exploring new techniques for copper recovery in Namibia and is also considering other potential projects in Southern Africa and closer to home. Directors have suspended salary payments since March 2024 to preserve cash for due diligence.
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Unicorn Mineral Resources (LSE: UMR), announces that at its Annual General Meeting held at 11:00 a.m. today, all resolutions were duly passed. The results of the poll were as follows:
| Resolution | For | Against | Withheld |
|---|---|---|---|
| 1 | 13,520,216 | 0 | 0 |
| 2 | 13,520,216 | 0 | 0 |
| 3 | 13,520,216 | 0 | 0 |
| 4 | 13,520,216 | 0 | 0 |
| 5 | 13,153,549 | 366,667 | 0 |
| 6 | 13,153,549 | 366,667 | 0 |
Copies of all resolutions passed, other than ordinary business, have been submitted to the Financial Conduct Authority via the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
At the AGM, Paddy Doherty, Chairman, made the following statement:
"A year ago, we had narrowed down a number of interesting opportunities in Southern Africa to a copper prospect in Namibia. Initial investigations were encouraging: a large tailings dump that was visible from some distance away offered the hope of recovering copper without the need for mining. However, the metallurgy of the slimes and tailings is complex with the result that the copper is not recoverable using traditional techniques. That does not mean that it is not recoverable at all; and we are now looking at whether new techniques that utilise glycine may be appropriate. But, this all takes time.
Nor are we focusing solely on this deal. Southern Africa offers several interesting projects. And there are also some potential interesting opportunities closer to home.
We continue to preserve cash, with the directors having agreed to suspend salary payments since March 2024, leaving sufficient funds to meet the due diligence as we look to ensure that the risk of any future deal is minimised so far as we can.
In short, it has been a frustrating 12 months; however we remain confident that we will find a suitable and transformative transaction for the benefit of shareholders."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.