Empire Resources has appointed major shareholder Michael Ruane as its chairman, one month after he sought a board spill at the gold miner.
Following today’s announcement, Mr Ruane has withdrawn the resolutions to remove the remaining board members.
“In light of these appointments the requisition notice under Section 249D of the Corporations Act received from Tyson Resources Pty Ltd and Kesli Chemicals Pty Ltd to remove the existing board of Directors will be withdrawn,” Empire said in a statement to the ASX.
“Following these appointments, and the withdrawal of the notice, the company will continue to address the company’s business strategy in the coming months.”
In 2016, Mr Ruane orchestrated a board spill at gold explorer Echo Resources and was a director during that year.
He is currently an executive director of potash explorer Reward Minerals, and has previously served as managing director of gold-focused Metaliko Resources and Intermin Resources.
Mr Atkinson has specialised in the construction of financial models for mining projects in Australia, Africa, Europe and South America over the past six years.
Shares in Empire were flat at 1.2 cents each at 2.50pm AEDT.