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Venture Minerals appoints Philippa Leggat as managing director on resignation of Andrew Radonjic

Published 20/05/2024, 10:10 am
© Reuters.  Venture Minerals appoints Philippa Leggat as managing director on resignation of Andrew Radonjic

Andrew Radonjic, the long-term Venture Minerals Limited (ASX:VMS, OTC:VTMLF) managing director, has tendered his resignation, effective today, and former non-executive director Philippa Leggat will assume the role.

Long and productive tenure

Radonjic had been at the helm since 2006 and his tenure with Venture included the pivotal discovery of the Jupiter Rare Earths Project in Western Australia.

In his 17-year period with the company, Radonjic navigated the business through some challenging economic periods, such as the global financial crisis and the COVID-19 pandemic, while expanding Venture's exploration portfolio.

New MD Leggat, who joined the board in late 2023, led the board renewal process, which brought significant talent to the company, including Tim Lindley and Nick Cernotta.

The initial drilling results from the Jupiter project highlighted its substantial potential, helping Venture attract high-calibre candidates.

Wealth of mining knowledge

With more than 20 years of experience in the mineral industry, Leggat brings a wealth of knowledge gleaned from roles as an executive director and advisor to several ASX-listed companies, where she has been instrumental in capital raising, exploration, development and project evaluation.

Leggat has a proven track record in negotiating value-accretive project acquisitions and effectively communicating an organisation’s competitive advantages to enhance its profile.

In addition to advisory roles, Leggat has held key positions in various ASX-listed companies, including CEO of Comet Resources, executive director of Geopacific Resources and non-executive director of Kula Gold and Ensurance Ltd.

She also serves as a non-executive director of Harena Resources, a private company focused on developing a significant ionic clay rare earths project in Madagascar.

Non-executive chair Tim Lindley said: “We are excited to be appointing Philippa Leggat as managing director at this pivotal time for the company, where there is a clear opportunity to significantly advance the Jupiter Rare Earths Project, restructure the company to best position VMS for opportunities in critical minerals, and create substantial shareholder value.

“We have a vision to make Venture one of the best rare earths and critical minerals companies in Australia. Philippa’s appointment is the next key step in that journey.

"We strongly believe Philippa has the skills, capabilities and tenacity to drive the company forward through the next important phases for Venture Minerals.

“We acknowledge Andrew’s 17 years of service as technical director and managing director. We thank him particularly for his valuable contribution in securing Jupiter for Venture shareholders and wish him all the best in his future endeavours.”

Incredible opportunity

Managing director Philippa Leggat said: “In Tim and Nick we have secured expert guidance that is founded on decades of delivering shareholder returns through capital markets and resource expertise.

“I hope investors recognise how unusual it is to see people like these venturing into the junior end of the market. This is not their natural habitat and the implication of that for shareholders should set hearts racing.

“We will be moving quickly in the coming weeks to focus our efforts on Jupiter, an asset with world-class potential, and we thank Andrew for bringing the opportunity to Venture.

“It is my privilege to be handed the reigns of this incredible opportunity with Nick and Tim’s support. Venture has a once-in-a-lifetime opportunity; the asset, the people and the timing at the bottom of the pricing cycle. Welcome to the Jupiter journey.”

Read more on Proactive Investors AU

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