Empire strikes back as incumbent board wins legal case

THE incumbent board at ASX-listed Empire Resources have had a legal win with a court of appeal dismissing the attempt by joint venture partner Brimstone to prevent Empire recovering what it claims is more than A$1 million owed from the pair’s open pit mining venture at Penny’s Find near Kalgoorlie.

Empire strikes back as incumbent board wins legal case Empire strikes back as incumbent board wins legal case Empire strikes back as incumbent board wins legal case Empire strikes back as incumbent board wins legal case Empire strikes back as incumbent board wins legal case

Mining at Penny's Find

Empire said it will now exercise its rights under the mortgage and security documents to appoint a receiver to Brimstone's interest in the 60:40 Penny's Find JV "and other means available to it to recover approximately $1 million from Brimstone".

Brimstone's directors are Paul Williams and Peter McDonald.

They are also among of group of shareholders trying to turf the Empire board comprising Lee Christensen, David Sargeant and Adrian Jessup, and replacing them with Stephen Allen, Chris Banasik and Brett Fraser.

Whether the failure of Brimstone's appeal - which also saw costs awarded against the unlisted-Brimstone - will now see the boardroom battle dissipate remains to be seen.

The board incumbents evidently believe this could be the case.

"On ...