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Capricorn Metals shareholders request meeting to oust board

Capricorn Metals Ltd said Jan. 10 that it received a notice from shareholders Neon Capital Ltd. and Nero Resource Fund Pty. Ltd. to call a meeting for the proposed removal of nonexecutive Chair Debra Bakker and directors Geoffrey Rogers and Peter Benjamin.

The shareholders, which collectively represent at least 5% of total voting rights, are proposing the appointment of Timothy Kestell, Peter Pynes and Douglas Jendry as replacements.

Should the request be deemed valid, the incumbent directors are required to call the meeting in 21 days, with the meeting to be held no later than two months after the notice.

The Australian gold explorer secured a A$107 million funding commitment for construction at its Karlawinda gold project in Western Australia in December 2018.