Lachlan Star Revamps Board with Tony Kiernan as Chairman to Spark Growth
Lachlan Star Limited has appointed mining veteran Tony Kiernan as independent Non-Executive Chairman alongside Alan Thom as Non-Executive Director, marking a strategic board refresh aimed at accelerating the company’s growth in Western Australia’s gold sector.
- Tony Kiernan appointed independent Non-Executive Chairman
- Alan Thom joins as Non-Executive Director bringing technical and development expertise
- Current Chairman Gary Steinepreis transitions to Non-Executive Director
- Brendan Bradley steps down to focus on executive role at DevEx Resources
- Director options proposed, pending shareholder approval
Board Refresh Signals New Chapter
Lachlan Star Limited (ASX:LSA) has announced a significant reshuffle of its board, appointing Tony Kiernan as independent Non-Executive Chairman and Alan Thom as Non-Executive Director. These changes are designed to strengthen governance and leadership as the company prepares to enter its next phase of growth in gold exploration and development, particularly within Western Australia’s prolific Norseman region.
Mr Kiernan brings over 35 years of experience in mining and corporate leadership, with a distinguished track record advising and managing listed companies in the resources sector. His previous roles include chairmanships at Pilbara Minerals and Saracen Minerals, as well as directorships at Northern Star Resources and Genesis Minerals. His appointment is widely seen as a move to inject seasoned strategic oversight at a pivotal time for Lachlan Star.
Technical Expertise Joins the Board
Joining Mr Kiernan is Alan Thom, a mining engineer with nearly three decades of experience spanning exploration, feasibility, development, and operations. Currently Chief Development Officer at Ramelius Resources, Mr Thom’s operational and business development skills are expected to complement the company’s ambitions to advance its portfolio, which includes the Killaloe and New Waverley projects in Western Australia, as well as assets in New South Wales.
The board refresh also sees current Chairman Gary Steinepreis step down to a Non-Executive Director role, maintaining continuity while allowing fresh leadership to take the helm. Meanwhile, Brendan Bradley will leave the board to concentrate on his executive responsibilities at DevEx Resources, reflecting a strategic realignment of focus among the company’s leadership.
Incentives and Future Outlook
To align interests with shareholders, Lachlan Star has proposed issuing options to the new and continuing directors, subject to shareholder approval. Tony Kiernan is set to receive 3 million options exercisable at $0.19, while Alan Thom and Gary Steinepreis are each proposed to receive 1.5 million options. These incentives underscore the company’s commitment to rewarding leadership that can drive value creation.
With a refreshed board combining deep governance experience and technical expertise, Lachlan Star appears poised to capitalise on its strategic assets and pursue disciplined growth. The company’s focus on the Norseman gold region, a historically rich mining area, offers a compelling platform for exploration and development success.
Outgoing Chairman Steinepreis expressed confidence in the new leadership, highlighting the importance of this transition in positioning Lachlan Star for its next growth stage. Incoming Chairman Kiernan echoed this optimism, emphasising the company’s clear strategic focus and potential in the WA gold sector.
Bottom Line?
Lachlan Star’s board refresh sets the stage for a critical growth phase, but the market will watch closely to see how new leadership translates into operational progress and shareholder returns.
Questions in the middle?
- How will the new board influence Lachlan Star’s exploration and development timelines?
- What impact will the proposed director options have on shareholder value and dilution?
- How will Lachlan Star capitalise on its Norseman projects amid evolving gold market conditions?
