Prominent venture capitalist Charles Morgan has quit Alcyone Resources as the Perth silver miner placed its shares in a trading halt yesterday pending a review of its operations and financial position.
It came as two other Perth juniors, manganese hopeful Segue Resources and coal play Aviva Corp, flagged their restructures.
Alcyone, which operates the Texas silver project in south-east Queensland, said Mr Morgan and fellow non-executive director Ian McCubbing had quit.
Mr Morgan had sold eight million of his 42 million Alcyone shares earlier this month.
Yesterday's announcement came after Alcyone told shareholders in its December quarterly report that equipment breakdowns, in addition to cyclonic rain and unavailability of equipment in January, had caused operational problems at Texas.
Its share price, which was 4.6Â¢ before the December quarterly was released, fell to 2.6Â¢ prior to yesterday's halt. Alcyone managing director Andrew King could not be reached for comment.
Meanwhile, Aviva said it was considering a potential transaction that would lead to a restructure of its board and a share placement.Segue Resources, which is operating thanks to a $250,000 debt facility announced last month, flagged the potential sale of its 31 per cent stake in the Emang project in South Africa.
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