A move to spill the board of Bass Metals next month is shaping up to be a fiery affair, after the company's major shareholder lodged complaints about the Bass meeting notice with regulators.
Three Asian investors with ties to Singapore's LionGold Corp have also emerged on the company's register.
Bass has been embroiled in a legal dispute with LionGold since last October last over allegations the Singaporean gold company repudiated a $13.5 million deal to buy some of Bass' Tasmanian assets.
The failed base metals miner-turned-Turkish gold explorer is also at war with its 9 per cent shareholder, ASX-listed Metals Finance (MFC), over a push to spill the Bass board in favour of one of its own directors, and the addition of Helmsec Global Capital managing director Gavin Solomon as an independent director.
At stake is the $2.4 million Bass had in its bank account at June 30 as well as up to $6 million it estimates it could win from its legal action against LionGold.
MFC says it has issues with Bass' directors over corporate governance and the performance of the company, worth 50Â¢ a share in 2007 but now down to 1.1Â¢.
Bass argues its candidates are better placed to conduct the LionGold litigation than Bass' management. After seeing its $5 million Bass investment plunge in value, MFC argues the incumbent Bass directors have not taken responsibility for the failure of its Tasmanian mines.
But the emergence of three Singapore and Malaysia-based businessmen on the Bass register, all with links to each other and LionGold, has confused the spill move. Sources say the intention of the three, who together hold about 14 per cent, is unclear. The Bass board warned in its notice of meeting that LionGold wanted to weaken the litigation proceedings.
Mr Solomon said the notice contained "misleading statements" and complaints had been lodged with the ASX and the Australian Securities and Investments Commission.