Leadership Overhaul and Capital Raise Pose Risks and Opportunities for Killi Resources

Leadership Shakeup Signals New Direction

Killi Resources Limited has made a significant leadership appointment with the naming of Nev Power as Non-Executive Chair, effective 1 April 2026. Power, renowned for his transformative tenure as CEO of Fortescue Metals Group, brings decades of experience in mining and resource development. His appointment marks a strategic pivot for Killi as it seeks to leverage his expertise to unlock value across its portfolio.

Alongside Power, seasoned resources executives Steve Parsons and Michael Naylor have joined Killi as consultants and substantial shareholders, underscoring a concerted effort to strengthen the company’s leadership bench. The trio has cornerstoned a $1.4 million share placement, signaling their confidence in Killi’s growth prospects.

Capital Raising to Accelerate Exploration

The recent placement, priced at $0.038 per share, a 24% discount to the recent volume-weighted average price, will provide vital funding for Killi’s exploration activities, particularly at the Mt Rawdon West Project in Queensland. The company also plans to use proceeds for due diligence on new growth opportunities and to cover corporate and working capital expenses.

Westar Capital Limited acted as lead manager for the placement, which is structured in two tranches. The first tranche of approximately 26.9 million shares will be issued shortly, while the second tranche, comprising over 10.6 million shares, awaits shareholder approval expected in early May.

Technical Expertise and Board Changes

Killi has also appointed Hamish Halliday as Technical Consultant. Halliday’s 30 years of geological and corporate experience, including founding several successful junior mining companies, adds significant technical depth to Killi’s exploration efforts. His track record in discovering and funding large-scale mineral projects aligns well with Killi’s ambitions in underexplored mineral provinces.

In governance updates, Phil Warren has resigned from the board, while Jamie Byrde has been appointed Company Secretary. Byrde brings extensive experience in ASX compliance and corporate governance, which will support Killi’s evolving corporate structure.

Incentives and Operational Moves

To align leadership incentives with shareholder value, Killi will issue 7 million performance rights to Nev Power. These rights vest if the company’s share price reaches a volume-weighted average price of $0.10 over 20 consecutive trading days within three years. This arrangement underscores the board’s confidence in Power’s ability to drive growth.

Additionally, Killi has updated its registered office to West Perth and changed its contact details, reflecting a refreshed corporate identity as it embarks on this new chapter.