The ongoing ramifications of a tax evasion scandal around Chris Ellison and the portent of iron ore demand upset in a Chinese-U.S. trade war were probably already enough for MinRes (ASX:MIN) shareholders to think about.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
Now they need to make sense of two directors leaving the board one Wednesday morning, especially seeing as one of them was responsible for governance.
Shareholders mightn’t be too pleased about needing to introduce some new factor into their calculus: MinRes was down -3.4% in early hours of trades. While there’s weakness across its peers on Wednesday morning, MinRes’ drop is more pronounced.
(Interestingly, iron ore prices at ~US$98/tn are actually the highest they’ve been since tanking to US$90/tn last week on the SGX as China retaliated with more tariffs on U.S. imports.)
The company didn’t have too much to say about it on Wednesday.
Company NEC James McClements issued a statement farewelling both – both women, which may or may not be worth considering – citing Jacqueline McGill AO and Susan Corlett’s recent effort to “improve governance and procedures.”
What procedures does that mean? Your guess is as good as anybody else’s.
“Both Susie and Jacqui dedicated substantial time and effort over recent months in our efforts to improve governance and procedures across the business, whilst navigating their significant other professional commitments,” McClements wrote.
Mr McClements added: “Susie and Jacqui have contributed an enormous amount to the MinRes Board over their respective tenures.”
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please clickhere.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)