Former Aston CEO Hamish Collins is reportedly threatening to sue Aston Resources.
Legal correspondence from Collins’ solicitors state that he was entitled to a ‘equity participation’ under the terms of his contract with Aston, saying that while the actual quantification of these claims is "attended with some difficulty" they allege that he is due around $157 437 500.
According to Collins this amount calculates to around 5% of the midpoint of the valuations of Aston Resources interests it acquired via the Maulers Creek project and the Dingo tenements.
Aston is assessing the claim, adding that their view is that the company acted properly and consistently in regards to Collins’ terms of employment.
The miner states that "Mr. Collins became the CEO of another company affiliated with the Tinkler Group, MM Mining, in February 2010 (prior to Aston’s 2010 IPO), and the claim coincides with the termination of his employment with that company".
Aston recently carried out a $2 billion merger with Whitehaven Coal.