Kin Mining boss quits amid boardroom stoush
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The head of Kin Mining has handed in his resignation immediately after the junior gold explorer revealed it was facing a push to have one of its directors removed.
Kin (ASX:KIN) told investors this morning Don Harper has stepped down as managing director.
The company revealed on Monday that it received a demand from former chairman Terrence Grammer, along with former non-executive director Marvyn Fitton and Orbit Drilling, that a meeting be called for shareholders to vote on the removal of executive director David Sproule.
The three shareholders collectively have a stake of more than 5 per cent in Kin.
Mr Grammer retired and Mr Fitton stepped down in February last year as part of a board restructure.
Kin’s shares have slipped some 45 per cent from a 52-week high of 45c in May last year to 24c at Tuesday’s close.
The company, which recently started work at its Leonora gold project in Western Australia, said it will begin the hunt for a replacement shortly.
Kin has been contacted for comment.