Gold explorer Kin Mining is experiencing ‘growing pains’, says chairman
Kin Mining’s chairman had very little to say about its recent board tiff yesterday — just that it is “going through some growing pains”.
“Kin Mining is currently going through some growing pains with its business and a lot of you may want to know about that, but I’m here today to present an investment case for Kin Mining,” chairman Trevor Dixon told delegates at the RIU Explorers Conference in Fremantle, Western Australia.
Shares (ASX:KIN) closed down 2.2 per cent at 22c on Wednesday.
Don Harper quit his role as managing director earlier in February after Kin 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 David Sproule as an executive director.
“There’s a dysfunction in the board that we believe this is not a good thing and unfortunately part of the board is not supporting us in this battle,” Mr Harper told Stockhead following news of his resignation.
Kin has now appointed Brian Dawes as a non-executive director and is also in the process of vetting potential candidates to fill the roles of chairperson and managing director.
Mr Dixon will continue as chairman until a replacement chairperson and managing director is appointed and then will remain on the board as a non-executive director.
Kin is developing the Leonora gold project in Western Australia and is aiming to be in production by the final quarter of this year.