As the governance bin fire at Mineral Resources continues to smoulder, investors are watching on with morbid curiosity, trying to make sense of the smoke.
On Wednesday, six months after MinRes and managing director Chris Ellison became mired in scandal over alleged misuse of shareholder money and tax evasion schemes, independent directors Susie Corlett and Jacqueline McGill announced their sudden departures.
It came just hours after Capital Brief put questions to the company and revealed that market pressure was ratcheting up to hold its directors (somebody, anybody?!) accountable in any capacity.
In a report distributed to clients viewed by Capital Brief, influential proxy adviser Ownership Matters had advised shareholders in Iluka Resources to vote against the re-election of Corlett, who also sits on the board of the critical minerals play, because of her role on the board of MinRes.
