PERTH (miningweekly.com) – Embattled gold miner Kingsgate Consolidated is facing a board spill after shareholder Metal Tiger requested a general meeting to remove a number of the company’s directors.
Metal Tiger is hoping for shareholder support to remove Ross Smyth-Kirk, Sharon Skeggs and Peter Warren as directors of Kingsgate and their replacement by Richard Warburton, David McNeilly, Terence Grammer, Mark Potter and Neville Bergin.
Kingsgate told shareholders on Thursday that the company’s current directors had extensive experience in Thailand and Chile, and had continuously pursued the interest of the company, while Metal Tiger’s own nominees had not articulated any alternative plans for the company.
The company’s directors would unanimously recommend that shareholders vote against the board spill proposed by Metal Tiger.
Kingsgate recently launched arbitration proceedings against the Kingdom of Thailand under the Australia-Thailand Free Trade Agreement, after failing to reach a settlement for the unlawful expropriation of the Chatree gold mine.
The Thai government has set up a committee, headed by Pasu Loharnjun, to handle the case while Kingsgate has appointed international law firm Clifford Chance to represent it in the arbitration.
Edited by: Creamer Media Reporter
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