Boadicea implements board succession plan to focus on exploration in 2022

In this week’s Proactive Investor news, Boadicea Resources Ltd (ASX:BOA) has implemented a board succession plan to enable it to fully focus on 2022 exploration activities across its tenements in some of the most prospective regions in Australia.

The company has elevated Domenic De Marco to non-executive chair following the untimely passing in April 2020 of executive chair and company founder, Clarke Dudley.

Further, executive director and Business Development lead Steven Moon will resign as a director and transition to retirement effective February 24, 2022.

Grow exploration endeavours

Commenting on his appointment, De Marco said, “In the past two years we have been strengthening the company’s board to drive our business development plans and grow our exploration endeavours.

“I have been involved with the company in various capacities since it was launched in 2011 and am proud of the company we have built.

“The role of non-executive chair is in keeping with best practice ASX governance principles and recommendations.

Furthermore, 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 acted as chair for board and shareholder meetings since April 2020.”

Major strategic turnaround

During the past two years, executive director Steven Moon has led the company’s business development initiatives with board support.

Moon’s work has resulted in bringing to the company a number of licences to strengthen the company’s portfolio of tenements in what is considered Australia’s hottest exploration areas.

He joined the board during a period when the company faced considerable challenges and has provided a significant contribution to a major strategic turnaround for the company.

With Boadicea now maturing to strategically pivot to exploration activities, the business development role previously delivered by Steven Moon has been redistributed.

Moon’s resignation as a director will be effective as of February 24, 2022, aligning with his transition plans to retire.

Commenting on his transition to retirement, Steven Moon said: “I am pleased with what I have been able to deliver for Boadicea and its shareholders from my many years of involvement with the company and look forward to the next chapter in my life.

“I will continue to watch with interest as a major shareholder as the company’s highly prospective exploration program is rolled out.”

Exploration geologist support

With the strategic shift to exploration activities, the board has also secured specialist exploration geologist support from Map to Mine Pty Ltd, which has been appointed to assist in the delivery of exploration activities within the company’s Queensland tenements

With a shortlist of parties to fulfill a similar role for its Western Australia tenements, the company is well-positioned to deliver on its exploration program in 2022 and beyond.

Strategic imperatives focussed on exploration

De Marco adds: “Steven Moon has made a considerable contribution to the company over a number of years, in particular since becoming an executive director in 2020.

“He has led the business development activities of the company garnering a number of licences that have significantly strengthened Boadicea’s position as a company with strategic and prospective landholdings with a suite of gold and EV commodities not previously held.

“These include the Koongulla gold-copper tenements in the Paterson Province, the strategic move expanding from Western Australia into Queensland with subsequent new tenements acquired, and the recent Bald Hill East Lithium acquisition in Western Australia.

“With our stated strategic imperatives focused on exploration activities, Mr Moon’s business development role has been delivered and the company now moves into the exploration phase.

“The company’s transition to active exploration aligns with Mr Moon’s transition to retirement plans.”