JOHANNESBURG (miningweekly.com) – The board of platinum junior Wesizwe has asked the company's founding CEO Michael Solomon as well as fellow director Robert Rainey to step down "with immediate effect".

A terse Stock Exchange News Service (Sens) announcement said that Wesizwe's current financial director Nyasha Tengawarima would act as CEO until the board could appoint a suitable replacement.

The Sens announcement added that Solomon and Rainey had given notice of their intention to challenge their removal as directors.

Mining Weekly Online was unable, at the time of going to press, to obtain response from the Wesizwe phones, nor was it possible to leave a message for Wesizwe chairperson Dr Iraj Abedien. Wesizwe investor relations company College Hill would not comment.

Solomon later told Bloomberg News that his removal was "in bad faith" and therefore "invalid".

The two directors have have days to oppose their removal, Bloomberg said, citing Abedien.

Earlier in the day, Reuters reported that Wesizwe's shares rose 5% on Tuesday on talk that the company was a takeover target of Impala Platinum, the world's second-largest platinum producer.

Wesizwe, an exploration and mining company that is 52% black owned, has been under cautionary since October 27.

The company, which is developing the Frischgewaagd-Ledig project, had engaged in further strategic positioning in a deal with Anglo Platinum and Platinum Group Metals.

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