SCHEDULE 14A
Proxy Statement Pursuant to Section 14(a) of the Securities
Exchange Act of 1934 (Amendment No. )
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|_| Preliminary Proxy Statement
|_| Confidential, for Use of the Commission Only (as permitted by
Rule 14a-6(e)(2))
|_| Definitive Proxy Statement
|X| Definitive Additional Materials
|_| Soliciting Material Pursuant toss.240.14a-12
THE GOLDFIELD CORPORATION
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(Name of Registrant as Specified In Its Charter)
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The Goldfield Corporation
100 Rialto Place, Suite 500
Melbourne, Florida 32901
NEWS RELEASE FOR IMMEDIATE RELEASE
For further information, call:
John Sottile
The Goldfield Corporation
(321) 724-1700
ISS RECOMMENDS THAT GOLDFIELD SHAREHOLDERS
VOTE FOR GOLDFIELD NOMINEES.
Finds performance exemplary.
MELBOURNE, Fla.--June 12, 2001--The Goldfield Corporation (AMEX: GV,
www.goldfieldcorp.com) today announced that Institutional Shareholder Services
(ISS) recommended that Goldfield shareholders vote FOR management's slate of
director nominees at the Company's Annual Meeting, scheduled to be held on June
19, 2001, rather than the dissident nominees proposed by an internet shareholder
activist.
ISS is widely recognized as the nation's leading independent proxy advisory
firm. Their recommendations are relied upon by institutional investors, mutual
funds, and other fiduciaries.
In reaching its decision to recommend that Goldfield shareholders vote FOR the
six nominees on Goldfield's slate, ISS noted in its report that: "The company's
operational and stock performance have been exemplary, especially for a
micro-cap company. Management has implemented a specific long-term strategy for
the company to improve shareholder value." The report concluded that "it would
be in the best interests of all shareholders for the company to 'stay the
course.'"
John Sottile, President of Goldfield, said that "the ISS report was a
comprehensive and accurate analysis of Goldfield which impartially answered all
significant questions raised by the dissidents."
Although ISS recognized that appropriate safeguards can offset the need for
cumulative voting, ISS concluded that it was not necessary to remove existing
cumulative voting provisions.
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Goldfield is engaged in electrical construction operations, mining and real
estate. Electrical construction includes the construction and maintenance of
electric power lines and fiber optic communication systems. Mining operations
include the mining of industrial minerals and construction aggregates.
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