Sproule calls for Kin board spill

A group of dissident shareholders led by former director David Sproule are seeking a board spill at gold-aspirant Kin Mining, including the removal of new chief executive Andrew Munckton.

Kin said it had received a 249D notice requesting a meeting to consider a series of motions to remove all five directors and appoint three replacements, including Mr Sproule.

Kin is led by Mr Munckton, who was appointed to the role in April following the resignation of Don Harper.

Mr Harper resigned following a move from former directors Terry Grammer and Fritz Fitton to remove Mr Sproule.

Other current board members include non-executive directors Joe Graziano and Brian Dawes, along with chairman Jeremy Kirkwood and executive director Trevor Dixon.

Mr Dixon holds a 3.72 per cent stake in Kin, while Mr Graziano owns 2.09 per cent.

Jubilee Mines chairman Kerry Harmanis has a 7.14 per cent stake in the gold explorer.

The rebel shareholders have requested the appointment of Mr Sproule, Christopher Johnston and Sydney-based John Kamara.

Mr Sproule stood down as director earlier this year following the request for his removal.

Mr Kamara founded advisory company Kamara Group 10 years ago and previously worked for Morgan Stanley and Lehman Brothers.

The news comes after Kin suspended construction at its $35 million Leonora gold project following a review by Como Engineers, which confirmed increases in pre-production capital costs.

The review was undertaken after Mr Harper resigned.

Shares in Kin finished the day up 1.32 per cent at 7.7 cents each.