Agrimin Faces Leadership Shift Amid Mackay Project Review and Tali IPO

Strategic Review of Mackay Potash Project

Agrimin Limited has provided a comprehensive update on its flagship Mackay Potash Project, confirming that its strategic review initiated earlier this year remains underway. The review is examining a broad spectrum of factors including project approvals, native title considerations, engineering design, tenure management, and capital market conditions. Despite the challenges posed by current market dynamics, key stakeholders continue to express strong support for the project’s ongoing evaluation.

In response to prevailing conditions, Agrimin has prudently reduced project-related costs and overheads while actively exploring opportunities to maintain the project’s tenure in good standing. Parallel to this, the company has intensified exploration efforts across its broader tenure, holding granted exploration licences and mining permits over promising target areas.

Tali Resources Corporate Restructuring and IPO Plans

In a significant development, Tali Resources Pty Ltd, in which Agrimin holds a 40% interest, has undergone a corporate restructuring that separates its West Arunta mineral exploration licences and its shareholding in WA1 Resources Ltd into two distinct entities: Niobium Holdings Pty Ltd and Tali Resources Ltd. Agrimin retains a 40% stake in both companies.

Tali Resources Ltd is preparing for an Initial Public Offering (IPO) on the ASX targeted for mid-2025, aiming to raise approximately $7.5 million. The funds are earmarked to support an aggressive drilling program and further exploration activities within the highly prospective West Arunta region. Notably, Agrimin shareholders will be offered a priority opportunity to participate in the IPO with an allocation of up to $2 million worth of shares, subject to eligibility and allocation discretion by Tali’s board.

Executive Leadership Changes

As part of the IPO preparations, Agrimin’s current Chief Financial Officer and Company Secretary, Rhys Bradley, will resign from his roles to become Managing Director of Tali Resources Ltd upon its ASX listing. Agrimin has acknowledged his contributions and will not immediately replace the CFO position, with responsibilities to be managed internally. Additionally, Agrimin has appointed Briohny McManus, a seasoned Chartered Accountant and company secretary, to oversee corporate governance and ASX communications.

These leadership transitions underscore the strategic importance of Tali Resources within Agrimin’s broader portfolio and signal a focused approach to unlocking value through exploration and capital market engagement.

Looking Ahead

With the Mackay Potash Project’s strategic review ongoing and Tali Resources advancing toward a public listing, Agrimin is navigating a pivotal phase. The outcomes of these initiatives will be critical in shaping the company’s growth trajectory and investor appeal in a competitive mining sector.