Shannon Green Resigns as C29 Metals Managing Director Effective Immediately

Managing Director Departure Shakes Up Leadership

C29 Metals Limited (ASX:C29) has jolted its leadership ranks with the immediate resignation of Managing Director Shannon Green. Green, a mining executive with over 25 years’ experience spanning resource development and operations, leaves without public explanation or a timeline for succession. His departure arrives at a critical juncture as the company advances exploration projects and navigates recent asset acquisitions.

Interim Board Appointment of CFO Ailsa Osborne

Filling the leadership gap, Chief Financial Officer and Company Secretary Ailsa Osborne has been appointed Executive Director on an interim basis. Osborne’s elevation comes under her existing Executive Service Agreement, which includes company secretarial, finance, and tenement management responsibilities, with annual remuneration of $100,000 plus superannuation. Her appointment ensures continuity on the board while the company seeks a permanent Managing Director.

Terms and Conditions of Executive Service Agreement

The agreement governing Osborne’s role allows termination by either party with notice periods ranging from one to three months, depending on circumstances such as misconduct or incapacity. The company may also terminate without cause by providing three months’ notice or payment in lieu. These standard provisions offer flexibility as C29 adjusts its executive team.

Leadership Change Amid Active Exploration and Growth Plans

While the filing does not specify reasons for Green’s exit, it comes after a period of strategic moves including C29’s recent 80% acquisition of a Namibian copper-gold portfolio supported by a $4.7 million placement. The company has also been progressing drilling plans at its Samsons Tank Copper project in NSW and exploring global acquisition opportunities, indicating a busy operational pipeline that will require steady leadership.

Uncertain Succession Timeline Raises Questions

The announcement leaves open the question of who will succeed Green and when. Osborne’s interim appointment stabilises the board for now, but investors will be watching for updates on the permanent Managing Director search and any shifts in strategic direction. The company’s ability to maintain momentum in exploration and capital management will be critical during this transition.