# Aaron Colleran Non-Executive Chairman ## Career chronology - **From 5 October 2026: AIC Mines** — Non-Executive Chairman. [Quarterly Activities Report for the Period Ending 30 September 2026]() (pp.1–2 and 20, safety, production and leadership) - **Before or during AIC tenure as described by the issuer; exact dates not determined in this audit: Evolution Mining** — Business development and investor relations. [Board and management]() (Relevant named person’s current issuer biography) ## Contributions and company outcomes ### AIC delivered operating growth and higher profit [colleran_aic_delivery] 2019–FY26 · issuer reported · high materiality AIC reports achieving FY26 copper guidance for a third consecutive year, producing 13,064 tonnes of copper in concentrate and FY26 net profit of about A$41.5 million compared with A$15.0 million in FY25. Higher metal prices and the operating team contributed; the figures do not isolate Colleran’s contribution. **Attribution:** Role overlaps event; causation unproven. CEO oversight overlaps these outcomes; the profit increase is not a measured personal contribution. **Relevance:** Supports delivery experience while requiring discipline over the next expansion. [AIC Mines Annual Report 2026]() (PDF pp.4, 6, 15 and 45); [Board and management]() (Relevant named person’s current issuer biography) ## Business failures and setbacks ### Evolution’s Pajingo impairment [colleran_pajingo] FY2015–FY2016 · documented · medium materiality ASIC reported Evolution’s A$77.3m FY2016 Pajingo impairment after earlier auditor inquiries. It occurred during Colleran’s business-development tenure; the notice does not assign him responsibility or allege personal fraud. **Attribution:** Role overlaps event; causation unproven. Portfolio role overlaps the event; acquisition, valuation and impairment decisions cannot be assigned to him from the notice. **Relevance:** A counterweight to a uniformly positive acquisition biography. [Evolution Mining writes down Pajingo mine (16-294MR)]() (2016 impairment and prior auditor inquiry); [Board and management]() (Relevant named person’s current issuer biography) ## Industrial safety ### Annual safety improvement followed by a September-quarter increase [colleran_safety] FY26 and September 2026 quarter · issuer reported · medium materiality AIC reported that rolling TRIFR improved from 12.0 in June 2025 to 5.7 in June 2026, then increased to 6.2 per million hours by September 2026. Two September-quarter recordable injuries were disclosed, involving an elevated work platform and a hammer. **Attribution:** Role overlaps event; causation unproven. CEO leadership overlaps the safety trend; report does not attribute any injury to a personal act or omission. **Relevance:** Both the annual improvement and subsequent injury-rate increase matter for critical-control oversight. [AIC Mines Annual Report 2026]() (PDF pp.4, 6, 15 and 45); [Quarterly Activities Report for the Period Ending 30 September 2026]() (pp.1–2 and 20, safety, production and leadership) ## Governance and interests ### CEO-to-chair transition completed [colleran_succession] 5 October 2026 · issuer reported · high materiality The July terms envisaged commencement by 31 October or earlier by agreement. The October quarterly confirms Donkin became CEO and Colleran became non-executive chair on 5 October. **Attribution:** Individual involvement documented. Documented change of roles, not an allegation. **Relevance:** Changes which individual should be assessed for day-to-day execution. [Quarterly Activities Report for the Period Ending 30 September 2026]() (pp.1–2 and 20, safety, production and leadership) ## Suitability for the current role ### Strong corporate-development fit; execution handover matters [colleran_fit] Assessment at cutoff · analyst inference · medium materiality The evidence supports corporate-development and strategic experience. The next phase requires construction, integration and safety execution by the current CEO, with non-executive board oversight. **Attribution:** Responsibility not applicable. Analyst judgment based on documented roles and outcomes, not a guarantee of executive quality. **Relevance:** Evaluate chair oversight separately from the successor’s operating remit. [Board and management]() (Relevant named person’s current issuer biography); [Quarterly Activities Report for the Period Ending 30 September 2026]() (pp.1–2 and 20, safety, production and leadership) ## Evidence gaps - Degree institutions, graduation dates and current professional membership were not independently verified; historical issuer credentials are now identified. - Cowal’s FY19 operating benchmark is available, but original acquisition-model IRR, complete asset-by-asset capital returns and personal causal contribution were not established. - The reviewed transition release defines CEO and non-executive-chair titles; detailed delegated authority over safety and acquisition integration is not publicly established. - A complete current concurrent-directorship register was not obtained. - The prior dossier and its earlier search logs were preserved separately. Prior search execution and citations not re-opened in this audit were not treated as independently verified; omitted claims require fresh source-level review.