“Over the past two years, we have strengthened the Company’s Board of Directors to drive our business development plans and expand our exploration efforts,” said the Chairman.
Boadicea Resources Ltd (ASX:BOA) has put in place a board succession plan to enable it to focus fully on 2022 exploration activities at its properties in some of Australia’s most promising regions.
The company elevated Domenic De Marco to non-executive chairman following the untimely death in April 2020 of the company’s executive chairman and founder, Clarke Dudley.
Additionally, Executive Director and Head of Business Development, Steven Moon, will step down as a director and retire effective February 24, 2022.
“Expand exploration efforts”
Commenting on his appointment, De Marco said: “Over the past two years, we have strengthened the Company’s Board of Directors to drive our business development plans and expand our exploration efforts.
“I have been involved with the business in various capacities since its launch in 2011 and am proud of the business we have built.
“The role of the non-executive chairman is in line with ASX best practice governance principles and recommendations.
Additionally, it positions the company for future board succession and director recruitment.
“On behalf of the board, I would also like to thank Jon Reynolds, who has chaired board and shareholder meetings since April 2020.”
Major strategic shift
For the past two years, Executive Director Steven Moon has led the company’s business development initiatives with the support of the Board of Directors.
Moon’s work has brought the company a number of licenses to bolster the company’s property portfolio in what are considered Australia’s hottest exploration areas.
He joined the Board of Directors during a period when the company was facing considerable challenges and made a significant contribution to a major strategic turnaround for the company.
With Boadicea now maturing to pivot strategically towards exploration activities, the business development role previously held by Steven Moon has been redistributed.
Moon’s resignation as a director will become effective on February 24, 2022, in line with his retirement transition plans.
Commenting on his transition to retirement, Steven Moon said: “I am pleased with what I have been able to bring to Boadicea and its shareholders over my many years of involvement in the business and I look forward to the next chapter of my life.
“I will continue to follow with interest, as a major shareholder, the deployment of the company’s very promising exploration program.”
Support for exploration geologists
With the strategic shift towards exploration activities, the board has also secured the support of a specialist exploration geologist from Map to Mine Pty Ltd, who has been appointed to assist in carrying out exploration activities. at the company’s properties in Queensland.
With a shortlist of parties to fulfill a similar role for its properties in Western Australia, the company is well positioned to deliver on its exploration program in 2022 and beyond.
“Exploration-driven strategic imperatives”
De Marco adds, “Steven Moon has made a tremendous contribution to the business for several years, particularly since becoming Executive Director in 2020.
“He led the company’s business development activities securing a number of licenses which significantly strengthened Boadicea’s position as a company owning strategic and prospective land holdings with a suite of unowned gold and EV products. previously.
“These include the Koongulla Gold and Copper Properties in Paterson Province, the strategic move extending from Western Australia to Queensland with the acquisition of subsequent new properties, and the recent acquisition of Bald Hill East Lithium in Western Australia.
“With our stated strategic imperatives focused on exploration activities, Mr. Moon’s business development role has been fulfilled and the company is now moving into the exploration phase.
“The company’s transition to active exploration aligns with Mr. Moon’s transition to retirement plans.”