Michael McNeilly, chief executive of plc (), tells Proactive he's called for a meeting to replace all but one of the directors at Kingsgate Consolidated.
McNeilly says the incumbent board has overseen a massive destruction of shareholder value and failed to articulate a clear strategy going forward.
Metal Tiger has recently built up a 6.7% stake in Kingsgate, which has lost more than 90% of its value over the past five years.
Kingsgate owns the Chatree mine 200 miles north of Bangkok in Thailand, which has just had a suspension order from the Thai government lifted.
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