Board bust-up at Gold Mines

By NICK GOODWAY FOR MAILONLINE
Updated:

 

Two of the best-known names in the mining industry have resigned after a boardroom row at Gold Mines of Sardinia. Executive chairman Peter Hambro and Rudolph Agnew, a non-executive director, resigned with immediate effect.

The company said: 'Their decision to resign was precipitated by a difference of opinion with major shareholders and other board members regarding the future direction of the company.'

Hambro said: 'I had a view about what we should do and the Australian shareholders had a different view. They were irreconcilable. I am sorry that my plans will not be developed.'

GMS said one of its major shareholders had asked for a general meeting at which it would propose the removal of Hambro from the board. The shares, which are quoted on AIM and in Australia and Luxembourg, fell 1/2p to 10 1/2p.

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