Stack joined the board in 2006 and was elevated to chairman in March following the sudden passing of previous chairman Gordon Smith.

Director Bill Lyne also resigned his directorship to focus on the growth of his own business, Australian Company Secretarial Services, but will continue with Eastern as company secretary.

Eastern has spent considerable time growing its New Zealand operations of late as it holds up the development of its Broughton project in Queensland due to costs.

The Broughton project has a 30 million tonne coal resource contained in two seams and is a joint venture with Mitsui Coal Holdings, which holds a 10% interest.

Eastern is now looking at options for the project, including developing it in conjunction with adjoining tenement holders to maximise economics based on an expanded operation.

It is also exploring options to increase the available product tonnes from the resource through mining by underground methods, production of a higher ash metallurgical product, and/or other blending options to increase coal yields, the company said earlier this year.

Eastern was trading at 23c this morning.