this is the media report on Warburton's comments back in Mid Dec...

this is the media report on Warburton's comments back in Mid Dec

When I read this as a LT shareholder in KCN I completely and utterly lost confidence in Warburton and MTR.

Still under water on my holding, sold a few into the MTR rally but bought in at the lows as well pre MTR bid .
The Chile silver asset is fantastic, I am silver bull and that is why I am here, it is the best silver play on the ASX

Ross baby is also a silver bull and  Chile will deliver.




"....Veteran director Dick Warburton has savaged the board of Kingsgate Consolidated and its executive chairman, Ross Smyth-Kirk, in a bid to revive an attempted boardroom coup at the goldminer.
In filings lodged in Britain yesterday, Mr Warburton accused the Kingsgate board of destroying more than $1 billion in shareholder value and for collecting “hefty directors fees for doing little beyond paying legal bills”.
Mr Warburton, a decorated corporate director whose current and former chairmanships include Westfield Retail, Magellan Flagship Fund, David Jones and Caltex, is at the head of a ticket of alternative directors put forward by British-listed Metal Tiger.
Metal Tiger has used its 6.7 per cent stake in Kingsgate to requisition a meeting to remove Mr Smyth-Kirk and two of his three fellow directors. The British group wants to try to patch up Kingsgate’s fraught relationship with the Thai government, which last year ordered the sudden closure of its flagship Chatree goldmine.
But the campaign for change has so far attracted little support from the wider Kingsgate register, with the various resolutions at Kingsgate’s recent annual meeting all strongly supported by the company’s other investors.
In his statement, Mr Warburton said the Kingsgate board comprised directors that Mr Smyth-Kirk had appointed through “cosy interrelated connections”, and said the relationship between the company and Thailand was “broken down beyond repair”.
“Their failure to secure the future of Kingsgate’s only operating asset, the Chatree goldmine, despite their supposed expertise and experience in Thailand, has left Kingsgate bereft of a future beyond bitter, lengthy and extremely expensive litigation,” Mr Warburton said.
“Indeed, I’m shocked that a board that has overseen such monumental losses has not resigned of its own accord.”
While Kingsgate has started legal action against Thailand over what it says was the appropriation of Chatree, Metal Tiger argues that Kingsgate can reopen the mine under a new board and management team.

http://www.theaustralian.com.au/bus...d/news-story/31d5cfaba22245b588c676e8c1ec5574