There is speculation that we will not complete the Business Combination until after the current Duran board is re-elected.
We have requested our lawyers to prepare the joint information circular AS SOON AS POSSIBLE.
We will do everything in our power to get the shareholder approval of both groups on or by the next expected Duran AGM.
MacMillan Gold wishes it to occur before!
The Business Proposal has so far been seen as fair to both groups, including by the proxy holder representing the “Concerned Shareholders” at the MacMillan Gold AGM.
If both sides support the fairness of the deal, the deal will get shareholder approval in MacMillan Gold and in Duran.
The Breakup Fee was a reasonable protection against starting a long term commitment to a major corporate restructuring and finding out part way through the process that we are dealing with people we may not want to deal with.
As the largest known and declared shareholder of MacMillan Gold, I personally wish my 50% of Peru owned by me in MacMillan to be only delivered to New Duran for New Duran shares if it will be in the hands of a board and management that I feel I can trust and respect.
I personally voted approximately 8,000,000 proxies assigned to me by shareholders who trusted me personally with their votes.
This was in addition to the approximately 12,000,000 votes recorded FOR management in the normal return of voting.
I voted FOR the three MacMIllan nominees because it has been my pleasure to personally work with them as a fellow director of MacMIllan Gold Corp.
I trust and respect every one of these individuals and know from personal experience that they have integrity and are honest dedicated individuals.
Someone posted a negative comment about the stock option grants.
Is is done once a year after the AGM.
It is decided by the board.
They allocated 70% of the options to the officers and employees of MacMillan Gold as incentive for them in their work.
They only awarded themselves 300,000 between 3 directors (do the math).
They receive NO PAY for being the guiding force behind the company giving management the direction in which to proceed and supplying the positive incentives and required tools (working capital from financings) in order to enable us to be successful.
I voted for these directors because I personally own 3,557,393 shares of MMG (no change since March 3, 2006 Information Circular) and I trust every member of the current board with my $1,800,000 investment!
I also personally trust and respect all directors of Duran that are expected to be nominated for election at the next Duran AGM.
It is very obvious where I will be voting my personal shares of New Duran in future.
George A Brown
President & CEO