Kin MD quits after planned director spill

KIN Mining managing director Don Harper has resigned today following a move from former directors Terry Grammer and Fritz Fitton to remove board member David Sproule.

In a statement to the ASX on Monday, Kin said Mr Grammer, Mr Fitton and Orbit Drilling had requested a shareholder meeting to remove Mr Sproule.

Mr Harper, who took over as managing director in February last year, at the same time Mr Sproule was appointed as technical director to the board, said yesterday’s announcement had triggered his resignation.

“The section 249 was the trigger point for me to resign I guess,” he said

“Unfortunately there is a split on the board, there is some board dysfunction that is evident.

“David Sproule doesn’t have the support and that has compounded things.”

Mr Grammer, Mr Fitton and Orbit hold about a 5 per cent stake in the company.

Mr Grammer and Mr Fitton founded the company with chairman Trevor Dixon and non-executive director Joe Graziano.

The board restructure in 2017 with Mr Harper and Mr Sproule, also involved Mr Dixon moving from managing director to chairman, while Mr Grammer and Mr Fitton both retired from the board.

Kin is aiming to begin production at its Leonora gold project in the Goldfields in the second half of the year.

Mr Harper said the company was well positioned.

“We’ve done very well to get to this point- we’re about to pour concrete on the ground, the project is fully permitted so even though we’ve had some board disputation we’ve managed to get this far and really build a credible company going forward,” he said

“For me to execute the plan that we’ve put together I need to have full board support and I don’t have that.”

Kin shares finished down 4 per cent at 24 cents.