Coalworks informed the market of Macquarie’s intentions yesterday, with the bank requesting to hold a shareholder meeting on the matter.

Macquarie is proposing to replace Mitchell and Firek with Anthony Ferguson and Johann Jooste-Jacobs.

Jooste-Jacobs is a non-executive chairman of Uranex with more than 30 years experience in the resource sector.

He has managed companies, acquisitions and start-up mining operations in Australia and South Africa.

Mitchell, an accountant, has been chairman of Central Victorian Gold Mines and a director of Diversified Mineral Resources, while Firek was founding executive director of the listed company, Allegiance Mining.

The proposed boardroom shuffle bears a striking resemblance to a boardroom coup at Coalworks engineered by Tinkler last November.

Tinkler, who had a 19.9% shareholding in Coalworks at the time, joined forces with Macquarie to oust two of the company’s directors and defeated five out of six motions.

The latest announcement comes just days after shareholders overwhelmingly approved Whitehaven Coal’s $5.1 billion merger with Aston Resources and Boardwalk Resources.

Boardwalk, an unlisted exploration and development company, is chaired by Tinkler.

Boardwalk is currently in a joint venture agreement with Coalworks for the Ferndale project located in the upper Hunter Valley.

Coalworks is also developing its Vickery South project in the Gunnedah Basin.

While Boardwalk had a 19.9% shareholding in Coalworks, a recent share placement undertaken by Coalworks saw Coalworks raise $17.4 million, reducing Boardwalk’s share in the company as Noble came on board as a 9% shareholder.

Macquarie has a 7% stake in Coalworks, making it Coalworks’ third largest shareholder.

Coalworks said it would update shareholders in due course on its recommendations with regards to the proposed resolution.