Astral Resources (ASX: AAR) is a gold‐focused exploration company targeting the exploration, growth and development of its flagship Mandilla Gold Project (Mandilla), located 70km south of Kalgoorlie in Western Australia. Mandilla hosts a Mineral Resource Estimate (MRE) of 37Mt at 1.1 g/t Au for 1.27Moz of contained gold.

AAR is also targeting exploration and growth at its Feysville Gold Project (Feysville) which is located 14km south of the KCGM Super Pit in Kalgoorlie. Feysville hosts a MRE of 3Mt at 1.3 g/t Au for 116koz of contained gold.

In September 2023, Astral announced the results of a Scoping Study for Mandilla, which, based on a standalone project comprising three open pit mines feeding a 2.5Mtpa processing facility, producing 80 to 100koz per year, and incorporating a gold price of A$2,750 – has a Net Present Value (8% discount rate) of $442 million. The Scoping Study did not include any contribution from Feysville.

AAR also holds other tenement interests at its Carnilya Hill project in the Western Australian Goldfields.

KEY PEOPLE

  • Mark Connelly, Non-Executive Chair

    Mr Connelly is an internationally experienced financial and commercial executive, with extensive resource industry experience where he held positions of Chief Executive Officer and Managing Director.

    He has experience with several multinational companies across many jurisdictions including Australia, North America, South America, Africa and Europe.

    Mark is a Corporate Executive with a track record for deal making and was principally responsible for the merger of Papillon Resources and B2 Gold Corp in October 2014 (transaction value USD$570M), as well as the key person responsible for Adamus Resources Limited and Endeavour Mining Merger in September 2011 (transaction value of USD$597M).

    Mark is currently non-executive chair of Calidus Resources, Omnia Metals Group, Alto Metals, Warriedar Resources and Nickel Search.

    Mark joined Astral as a non-executive director on 27 December 2023 and was elected Chair on 15 January 2024.

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  • Marc Ducler, Managing Director

    Mr Ducler has over 23 years’ experience in the mining industry. For the past 19 years, Mr Ducler has been in senior operational management roles with Gold Fields, BHP, Fortescue Metals, Mineral Resources and Roy Hill.

    Mr Ducler’s most recent role prior to joining Astral was as Managing Director of Egan Street Resources Limited (ASX: EGA) (a gold exploration and near-term developer), until its takeover by Silver Lake Resources Limited (ASX: SLR).

    Marc joined Astral on 23 December 2019.

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  • Justin Osborne, Non-Executive Director

    Mr Osborne has over 30 years-experience as an exploration geologist.

    He was previously an Executive Director at Gold Road Resources (ASX: GOR) and was pivotal to the resource development of the world class Gruyere Gold Deposit (6.6Moz Au).

    Mr Osborne has also previously held senior positions on the exploration executive team of Gold Fields Ltd. He was instrumental in the development of the Damang Superpit project in Ghana and had considerable discovery success at St Ives Gold Mine (Athena and Hamlet deposits) among other significant Reserve additions.

    Mr Osborne is a Non-Executive Chairman at AuMEGA Metals Ltd (ASX: AAM) (formerly Matador Mining Limited), Non-Executive Director of Hamelin Gold Limited (ASX: HMG) and Non-Executive Director of IGO Limited (ASX: IGO).

    Justin joined Astral on 18 November 2021.

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