Blackham Resources has moved to limit fallout from an ugly battle between sacked chairman Joe Gutnick and the rest of its board by holding a shareholder showdown "as soon as possible" to settle control of the gold aspirant.
It came as it appointed 6.3 per cent shareholder Paul Murphy as chairman, replacing Mr Gutnick.
The Bryan Dixon-run Blackham yesterday also announced another group of investors, owning 19 per cent, had requisitioned a meeting of shareholders to remove Mr Gutnick from the board.
Blackham said it intended to hold the meeting on the same day as the one called by Mr Gutnick on Friday, so investors could vote on "which board members they believe are best positioned to move the Matilda gold project into production and add value for all shareholders".
Even though Blackham has axed Mr Gutnick as chairman, citing a loss of confidence in him, he remains a non-executive director. Mr Gutnick has retaliated by requisitioning a meeting to vote on the removal of Mr Dixon and executive directors Alan Thom and Greg Miles.