Investors punish Tinkler's Aston

Nathan Tinkler's Aston Resources continued to be punished by investors yesterday following a big overhaulequipments used in calcium carbonate plant of the company's board and management, raising questions about potential related-party transactions amongst the mining magnate's various interests.

Mr Tinkler appointed himself chairman of Aston on Thursday after a dramatic board and management shake-up, which forced the resignation of chief executive Todd Hannigan and chief financial officer Tom Todd. Aston shares continued their decline yesterday, finishing 8.38 per cent lower at $8.75, in a broader market that was 1.9 per cent lower with resource stocks punished. Mount Gibson was also heavily hit for a second day following the news managing director Luke Tonkin was to step down from the Chinese-controlled iron ore miner. It was down 8.57 per cent at $1.28. Mr Tinkler, who owns about 35 per cent of Aston, had defended the...