Terra Metals Appoints Mining Veterans to Lead Dante Project Development

Experienced Leadership to Guide Development Phase

Terra Metals Limited (ASX:TM1) has significantly strengthened its board with the appointments of Debra Bakker as Non-Executive Chair, and Jeff Quartermaine and Jennifer Purdie as Non-Executive Directors, effective 29 June 2026. These moves mark a clear shift as Terra transitions from an explorer to a developer following its notable platinum group metals (PGM) discovery at the Dante Project in Western Australia.

Bakker brings a wealth of experience from the mining, finance, and commodity sectors, having held senior roles including a decade on the IGO Limited board and leadership positions at Commonwealth Bank’s metals and mining division. Quartermaine, fresh from nearly 13 years as CEO of Perseus Mining Limited, offers a proven track record in growing a junior gold miner into a profitable ASX:100 company with multi-mine operations across Africa. Meanwhile, Dr Jennifer Purdie adds operational depth from her tenure as Asset President at BHP’s Olympic Dam and executive roles in energy and mining sectors.

Board Renewal Reflects Strategic Evolution

The appointments come as Ian Middlemas and Ben Cleary step down from the board after instrumental roles in Terra’s recapitalisation and acquisition of the Dante Project. Both remain supportive shareholders. CEO Thomas Line emphasised the enhanced governance and operational expertise the new directors bring, which will be critical as the company advances resource definition, economic studies, and development planning at Dante.

Terra’s Dante Project is a significant polymetallic discovery hosting PGMs, nickel, copper, and gold within the West Musgrave region. Recent drilling at the Southwest Prospect has confirmed high-grade sulfide mineralisation, underpinning ongoing efforts to expand the resource base and refine the project’s economics. This drilling progress is part of a broader push to transition the project from exploration to development, with the new board composition reflecting this phase shift.

Incentivising Leadership with Share Rights

As part of their remuneration, the new directors will receive share rights: 3 million for Bakker and 2.5 million each for Quartermaine and Purdie, vesting over three years of continuous service. This aligns their interests with shareholder value creation through the company’s development milestones.

Concurrently, Mark Freeman, a Chartered Accountant with over 25 years’ experience in corporate finance and capital markets, has been appointed Company Secretary, replacing Greg Swan. Freeman’s background includes direct involvement in raising substantial equity capital and participation in the original Dante Project acquisition, positioning him well to support Terra’s next growth phase.

Operational and Corporate Headquarters Relocate to Perth

Effective 29 June 2026, Terra Metals will relocate its registered office and principal place of business to Level 15, London House, 216 St Georges Terrace, Perth WA. This move situates the company closer to the heart of Australia’s mining industry and investor community, reflecting its evolving corporate stature.