Bubalus Stakes Future on Brendan Borg Amid High Gold Price and Exploration Plans

Experienced Leadership at the Helm

Bubalus Resources Limited (ASX:BUS) has announced the appointment of Brendan Borg as Managing Director, effective from January 22, 2025. Mr. Borg, who was recently a Non-Executive Director, brings nearly three decades of expertise in mineral exploration, resource development, and mining operations across diverse commodities and jurisdictions. His transition to an executive role signals a strategic move by Bubalus to leverage his extensive industry knowledge and leadership skills.

Currently a director at battery minerals explorer Kuniko Limited and lithium developer Leo Lithium Limited, Borg also operates Borg Geoscience Pty Ltd, providing geological consultancy and exploration services. His academic credentials include a Master of Science in Hydrogeology and Groundwater Management and a Bachelor of Science in Geology and Environmental Science, underscoring his technical proficiency.

Strategic Focus on Victorian Gold Projects

One of the key attractions for Borg is Bubalus's portfolio of Victorian Gold Projects, which includes five granted licenses in the historically rich Victorian Goldfields. The flagship Crosbie Project boasts drill-ready targets supported by high-grade surface gold and antimony, geophysical anomalies, and compelling geological features. Drilling is scheduled for the second quarter of 2025, marking a critical phase for the company’s exploration ambitions.

Borg highlighted the appeal of these projects as a high-quality exploration opportunity with a low initial valuation, especially attractive in the current environment of elevated gold prices. His local presence in Victoria is expected to facilitate hands-on management and swift progress on these targets.

Incentive Structure Aligns Leadership with Shareholder Value

To incentivize performance, Bubalus proposes issuing 3 million Performance Rights to Borg, contingent on the company’s share price achieving specified volume weighted average prices (VWAP) over 20 consecutive trading days. These milestones are set at $0.20, $0.35, and $0.50, respectively, with the rights expiring three years from issuance. Additionally, 1.5 million Performance Rights are proposed for the Chairman and Non-Executive Director as part of their remuneration, pending shareholder approval.

This equity-based incentive aligns Borg’s remuneration with the company’s market performance, potentially rewarding successful exploration outcomes and share price appreciation.

Broader Project Portfolio and Outlook

Beyond the Victorian Gold Projects, Bubalus holds interests in several other mineral exploration ventures, including the Nolans East Rare Earths Project, Yinnietharra Lithium Project, Amadeus Manganese/Base Metals Project, and heavy rare earth projects at Coomarie and Pargee. These projects span premier geological provinces across Victoria, Northern Territory, and Western Australia, positioning Bubalus as a diversified explorer with exposure to multiple commodities.

Chairman Alec Pismiris expressed confidence that Borg’s leadership will propel the company’s ambitions forward, particularly as it advances planned exploration activities. The market will be watching closely as Bubalus moves into a critical phase of drilling and development under its new Managing Director.