The proposed slate includes Sandra Bates, Michael Horner, Dusan Petkovic, and Jon Christian Evensen. Each candidate brings specific expertise in mining finance, legal strategy, and corporate development. Bates, a former executive at Predictive Discovery, offers extensive experience in global mining jurisdictions, while Petkovic provides a background in private debt and project financing from his time at G Mining Ventures. Horner, the former CFO of Adriatic Metals, and Evensen, founder of Eucalyptus Resources, round out the group with track records in capital markets and corporate growth.

Eucalyptus claims the current board at TNR Gold is attempting to entrench itself. The fund points to the company’s recent filing of a record date on August 11, 2026—just one day before the record date of August 12—as a deviation from the company's established practice of providing significantly longer notice periods. Eucalyptus asserts it submitted its nomination notice in full compliance with company policy and received no notification of deficiencies, leading the fund to move forward with plans to solicit proxies from shareholders.