In a filing outlining plans for its annual general shareholders’ meeting set for August 15 in Toronto, the miner said both Dale Hendrick and Daniel Veniez announced, after the company’s information circular was mailed, that they would resign and not stand for re-election at the event.

Cline did not indicate why the pair stepped down.

Mark Haywood also resigned as chairman of the board to take up the role of president and chief executive officer to replace Ken Bates, who departed the company in late May.

Haywood has been replaced on the board by Sandra Rosch.

“We express our gratitude to Dale for his many years of service to Cline as its professional geologist residing on the board,” Haywood said.

“We also thank Dan for his contributions to Cline over the last few months during the initial restructuring phase of the company, and welcome Sandra as our new chairman of the board of directors as I now move to the CEO role after completing the primary restructuring goals.”

Cline proposes adding Rosch to the list of nominee directors for consideration at the August 15 meeting. She will be part of Cline's management slate for election in the upcoming meeting.

“If shareholders do not indicate a contrary preference, management of the company will vote ‘for’ the election of Mark Haywood, Vincent (James) Sardo and Sandra Rosch to the board of directors of Cline,” the company said.

Cline’s has not had a good 2013.

In June, just after announcing it would not proceed with a rights offering with Marret Asset Management, the company voluntarily delisted from the Toronto Stock Exchange. Trading in its shares ceased on June 21.

The company previously announced it had been placed under remedial listing review by the TSX, which was deferred pending completion of the proposed rights offering.

Following the June 3 announcement that it would not go ahead with the rights offering, Cline decided to delist its shares from the exchange.

“At the present time, continued listing on the TSX is not feasible for Cline and does not fit with its current business strategy,” Haywood has said in a statement.

“The company expects that after delisting it will have additional flexibility with respect to financing options."

Two members of its senior management team, chief financial officer Ernest Cleave, and chief operating officer David Stone tendered their resignations when that statement landed.

The company had said in April that it would pursue its previously negotiated restructuring plan with Marret. That transaction was first announced in December 2012.

At that time, then-Cline president and chief executive officer Ken Bates blamed the necessity of the restructuring on macro factors hammering the industry as a whole.

“The restructuring is an important step in the company’s efforts in developing a long-term financial solution to address the uncertainty regarding the magnitude and extent of the downturn in the coal markets,” he said.

Cline Mining holds significant metallurgical coal property interests in British Columbia as well as at the New Elk complex in Colorado.

New Elk’s inferred coal resources total is 104.5Mt. It comprises the Green, Loco, Blue, Bing Canyon Upper, Red, Maxwell, Apache and Allen coal seams in a total plan area of 34,060 acres.