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2026-11-06
◂ Monitor AEU ASX

Atomic Eagle Limited

DFS Unfunded Developer · Uranium · Zambia · Niger Rating locked: sign in to view v8.1 · aeu-20261030t224418-full
Last 2026-11-06
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People, delivery and responsibility

Management background checks

Evidence through 2026-10-31

Research assessment

Executive team

Rating locked: sign in to viewTeam rating and score are available to subscribers

Atomic Eagle’s team combines finance, uranium exploration and African project leadership. The 23 September Niger convention and June CEO negotiations are company-level milestones; mine development and arbitration discontinuance remain to be verified. Legal commentary reports that the 2019 Termite trial judgment was set aside by consent in 2020 without appellate determination on the merits; the original consent order was not located. The current site-management roster includes four additional people and a new company secretary; evidence quality remains limited. Bennett Greenhalgh replaced Abby Macnish Niven as company secretary on 16 October 2026.

Decision-relevant facts

Material summary

Individual involvement and employer context shown separately

Phil Hoskins

Chief Executive Officer

Current
LegalDocumented · High materiality

Federal Court adverse findings were later set aside by consent

In 2019 the Federal Court’s trial reasons identified Philip Ross Hoskins as a defendant and found each defendant had breached statutory duties in relation to Termite Resources’ distribution policy. The trial judge described Hoskins’s involvement in financial decisions. Legal commentary published by Clayton Utz, which had represented IMX, says the Full Court set the judgment aside by consent on 5 March 2020 and had not determined the appeal on its merits. The original 2020 consent order was not located in this audit; the historical trial judgment therefore must not be treated as an operative finding of liability.

Individual involvement documented · The original reasons identify Hoskins personally; reported consent set-aside removes the operative legal effect of the trial outcome. The appeal was not determined on its merits; no criminal finding is asserted.

Termite Resources NL (in liq) v Meadows (No 2) [2019] FCA 354 · [19], [169]–[170], [631]–[636], [712]–[713]
Overcoming a post-judgment barrier to settlement · Termite section, 5 March 2020 orders and appellate status
Company SuccessIssuer Reported · Medium materiality

CEO announced negotiated restoration of Atomic Eagle’s Niger interest

In August 2026, after the former GoviEx project’s mining rights were withdrawn by Niger in 2024 and arbitration proceedings were suspended during negotiations in 2025, CEO Hoskins announced an agreement creating a 60%-owned Niger subsidiary with the state holding 40% and an exploitation permit granted to that subsidiary. The agreement described a USD5m payment within 30 days of permit issuance and another USD5m at construction start. The arbitration was still described as to be withdrawn within seven days after the mining convention signing; no source reviewed establishes that it was already withdrawn by cutoff. On 23 September the company reported that MAMICO and Niger formally executed the convention, triggering steps toward discontinuing arbitration; actual discontinuance was not confirmed in the reviewed evidence.

Individual involvement documented · Hoskins publicly spoke for Atomic Eagle and the issuer described him as CEO; the agreement was a company/government result, not a sole-person achievement.

Role FitAnalyst Inference · Medium materiality

Documented role scope and role fit

Analyst inference: documented finance/commercial experience, African project development exposure and the negotiated Niger resolution align with Atomic Eagle’s cross-border uranium development and sovereign-engagement needs. The historical Termite court findings and consent set-aside remain material context; one negotiated agreement does not establish execution of a mine development.

Responsibility not applicable · Limited assessment of relevance, not an assurance of individual effectiveness.

GovernanceDocumented · Medium materiality

Evolution shareholders rejected a proposed post-departure option issue

Evolution Energy Minerals proposed issuing 2.5 million zero-price options to Hoskins under a settlement deed after his 2024 departure. Its 2025 annual report says the November 2024 shareholder resolution was not approved. The meeting notice does not explain the purpose of the settlement deed, and the documents do not establish misconduct.

Individual involvement documented · The proposed issue named Hoskins; rejection is a shareholder decision, not evidence of individual wrongdoing.

2024 annual general meeting notice · Resolution 8 and explanatory statement, pp. 15–17
2025 annual report · p. 23, voting at previous AGM
Evidence gaps · 6
  • Evolution filings give conflicting July 2024 resignation dates (15 and 18 July); the 18 July announcement said he would leave no later than October, while exact final day was not established.
  • The reviewed 2020 source says the appeal was not decided on its merits and the trial judgment was set aside by consent; no later merits judgment or settlement terms were located.
  • Actual withdrawal of the arbitration after the 23 September convention remains unconfirmed in the evidence reviewed.
  • Open-web checks are not exhaustive criminal, sanctions, litigation, credential or employment verification.
  • The 2024 Evolution AGM notice identifies a settlement deed but does not state its underlying reason; later settlement terms were not established.
  • The original 5 March 2020 consent order was not located; the set-aside and appeal status are reported by Clayton Utz, a firm that represented IMX in the matter.

Full background report

Phil Hoskins

Chief Executive Officer

Career chronology

  • Current at 31 October 2026: Atomic Eagle Limited — Chief Executive Officer. Board and Management (Management roster)

  • Managing Director appointed 24 January 2022; 18 July 2024 notice announced his resignation and said departure would occur no later than October 2024: Evolution Energy Minerals Limited — Managing Director, then Chief Executive Officer. 2022 annual report (Remuneration report, managing director appointment); Resignation of CEO (p. 1 resignation announcement)

  • Termite duty period 2012–2014; Hoskins’s broader IMX tenure dates not fully established: IMX Resources / Termite Resources joint venture — IMX Chief Financial Officer; Termite financial officer and later appointed director. Termite Resources NL (in liq) v Meadows (No 2) [2019] FCA 354 ([172], [631]–[636]); Update on Termite Resources (Demand background)

Contributions and company outcomes

CEO announced negotiated restoration of Atomic Eagle’s Niger interest

2024–23 September 2026 · issuer reported · medium materiality

In August 2026, after the former GoviEx project’s mining rights were withdrawn by Niger in 2024 and arbitration proceedings were suspended during negotiations in 2025, CEO Hoskins announced an agreement creating a 60%-owned Niger subsidiary with the state holding 40% and an exploitation permit granted to that subsidiary. The agreement described a USD5m payment within 30 days of permit issuance and another USD5m at construction start. The arbitration was still described as to be withdrawn within seven days after the mining convention signing; no source reviewed establishes that it was already withdrawn by cutoff. On 23 September the company reported that MAMICO and Niger formally executed the convention, triggering steps toward discontinuing arbitration; actual discontinuance was not confirmed in the reviewed evidence.

Attribution: Individual involvement documented. Hoskins publicly spoke for Atomic Eagle and the issuer described him as CEO; the agreement was a company/government result, not a sole-person achievement.

Relevance: Directly relevant to sovereign negotiation and jurisdictional risk oversight for a uranium CEO; arbitration execution status remains unresolved.

Atomic Eagle reaches agreement on Niger uranium project (paras 4–18); Status of Madaouela: response to Niger media statement (p. 1 CEO and chair visit); Madaouela mining convention formally executed (Execution and arbitration steps)

Litigation and enforcement

Federal Court adverse findings were later set aside by consent

2012–2014; judgment 2019; consent set-aside 2020 · documented · high materiality

In 2019 the Federal Court’s trial reasons identified Philip Ross Hoskins as a defendant and found each defendant had breached statutory duties in relation to Termite Resources’ distribution policy. The trial judge described Hoskins’s involvement in financial decisions. Legal commentary published by Clayton Utz, which had represented IMX, says the Full Court set the judgment aside by consent on 5 March 2020 and had not determined the appeal on its merits. The original 2020 consent order was not located in this audit; the historical trial judgment therefore must not be treated as an operative finding of liability.

Attribution: Individual involvement documented. The original reasons identify Hoskins personally; reported consent set-aside removes the operative legal effect of the trial outcome. The appeal was not determined on its merits; no criminal finding is asserted.

Relevance: Material to assessment of financial-control and governance responsibilities in a listed-company CEO role; procedural outcome materially qualifies the finality of the trial findings.

Termite Resources NL (in liq) v Meadows (No 2) [2019] FCA 354 ([19], [169]–[170], [631]–[636], [712]–[713]); Overcoming a post-judgment barrier to settlement (Termite section, 5 March 2020 orders and appellate status)

Governance and interests

Evolution shareholders rejected a proposed post-departure option issue

2024–2025 · documented · medium materiality

Evolution Energy Minerals proposed issuing 2.5 million zero-price options to Hoskins under a settlement deed after his 2024 departure. Its 2025 annual report says the November 2024 shareholder resolution was not approved. The meeting notice does not explain the purpose of the settlement deed, and the documents do not establish misconduct.

Attribution: Individual involvement documented. The proposed issue named Hoskins; rejection is a shareholder decision, not evidence of individual wrongdoing.

Relevance: Relevant to prior executive-transition and remuneration governance context.

2024 annual general meeting notice (Resolution 8 and explanatory statement, pp. 15–17); 2025 annual report (p. 23, voting at previous AGM)

Suitability for the current role

Documented role scope and role fit

Current role at cutoff · analyst inference · medium materiality

Analyst inference: documented finance/commercial experience, African project development exposure and the negotiated Niger resolution align with Atomic Eagle’s cross-border uranium development and sovereign-engagement needs. The historical Termite court findings and consent set-aside remain material context; one negotiated agreement does not establish execution of a mine development.

Attribution: Responsibility not applicable. Limited assessment of relevance, not an assurance of individual effectiveness.

Relevance: CEO duties include project delivery and sovereign negotiations across jurisdictions.

Annual Report for year ended 31 December 2025 (CEO experience and qualifications); Atomic Eagle reaches agreement on Niger uranium project (paras 8–16); Termite Resources NL (in liq) v Meadows (No 2) [2019] FCA 354 ([631]–[636]); Overcoming a post-judgment barrier to settlement (Full Court disposition)

Evidence gaps

  • Evolution filings give conflicting July 2024 resignation dates (15 and 18 July); the 18 July announcement said he would leave no later than October, while exact final day was not established.

  • The reviewed 2020 source says the appeal was not decided on its merits and the trial judgment was set aside by consent; no later merits judgment or settlement terms were located.

  • Actual withdrawal of the arbitration after the 23 September convention remains unconfirmed in the evidence reviewed.

  • Open-web checks are not exhaustive criminal, sanctions, litigation, credential or employment verification.

  • The 2024 Evolution AGM notice identifies a settlement deed but does not state its underlying reason; later settlement terms were not established.

  • The original 5 March 2020 consent order was not located; the set-aside and appeal status are reported by Clayton Utz, a firm that represented IMX in the matter.

Chris Bath

Chief Financial Officer

Current
EducationIssuer Reported · Medium materiality

Accounting and chartered-accountancy qualifications

Tap Oil’s 2018 filing identifies Bath as a Chartered Accountant, AICD member and holder of a Bachelor of Business (Accounting).

Responsibility not applicable · This is a disclosed qualification; primary degree and membership registers were not independently reviewed.

Role FitAnalyst Inference · Medium materiality

Broad listed-resource finance experience

Analyst inference: disclosed CFO/CoSec roles at Oilex, Buru and Tap, finance posts with Noble Group and PT Petrosea, and current CFO appointment support functional relevance to Atomic Eagle’s ASX-listed resource company finance role. Tenure-level employer outcomes and audit-level performance evidence remain limited.

Responsibility not applicable · Prior titles establish experience, not a claim of successful or deficient performance.

Evidence gaps · 3
  • Exact day of Buru CFO appointment in October 2012 and day of his resignation by 11 July 2014 are unknown; Noble Group and PT Petrosea role dates and individual outcome evidence were not established.
  • Current CFO appointment is effective 1 January 2026; Abby Macnish Niven remained secretary at that time but resigned on 16 October. No individual audit-quality or control assessment was found.
  • Open-web checks are not exhaustive professional discipline, litigation, sanctions, safety or environmental checks.

Full background report

Chris Bath

Chief Financial Officer

Career chronology

Education and qualifications

Accounting and chartered-accountancy qualifications

Reported by 15 May 2018 · issuer reported · medium materiality

Tap Oil’s 2018 filing identifies Bath as a Chartered Accountant, AICD member and holder of a Bachelor of Business (Accounting).

Attribution: Responsibility not applicable. This is a disclosed qualification; primary degree and membership registers were not independently reviewed.

Relevance: Relevant to CFO reporting, controls and capital-management responsibilities.

Tap Oil response to Risco takeover offer, 15 May 2018 (p. 31, executive biography)

Suitability for the current role

Broad listed-resource finance experience

Career through cutoff · analyst inference · medium materiality

Analyst inference: disclosed CFO/CoSec roles at Oilex, Buru and Tap, finance posts with Noble Group and PT Petrosea, and current CFO appointment support functional relevance to Atomic Eagle’s ASX-listed resource company finance role. Tenure-level employer outcomes and audit-level performance evidence remain limited.

Attribution: Responsibility not applicable. Prior titles establish experience, not a claim of successful or deficient performance.

Relevance: Relevant finance, reporting, capital-raising and governance background.

Tap Oil response to Risco takeover offer, 15 May 2018 (p. 31, executive biography); Appointment of Chief Financial Officer and Company Secretary (appointment); Annual Report for year ended 31 December 2025 (CFO appointment)

Evidence gaps

  • Exact day of Buru CFO appointment in October 2012 and day of his resignation by 11 July 2014 are unknown; Noble Group and PT Petrosea role dates and individual outcome evidence were not established.

  • Current CFO appointment is effective 1 January 2026; Abby Macnish Niven remained secretary at that time but resigned on 16 October. No individual audit-quality or control assessment was found.

  • Open-web checks are not exhaustive professional discipline, litigation, sanctions, safety or environmental checks.

Bennett Greenhalgh

Company Secretary

Current
Role FitAnalyst Inference · Medium materiality

Experience and role fit

Analyst inference: the issuer describes corporate law and governance experience and Norwest listed him as company secretary in 2018. These disclosures do not establish individual transaction outcomes.

Responsibility not applicable · Role-fit assessment only; not a finding that the person caused an employer result or guarantees execution.

Change of company secretary · p. 1 appointment and biography
Annual Report 2018 · pp. 2, 6
Evidence gaps · 2
  • The complete chronology of former employers and independent credential checks were not established.
  • Independent checks of degrees, employment history, regulator and court records are incomplete; open-web screening is not exhaustive.

Full background report

Bennett Greenhalgh

Company Secretary

Career chronology

Suitability for the current role

Experience and role fit

Roles and evidence through 31 October 2026 · analyst inference · medium materiality

Analyst inference: the issuer describes corporate law and governance experience and Norwest listed him as company secretary in 2018. These disclosures do not establish individual transaction outcomes.

Attribution: Responsibility not applicable. Role-fit assessment only; not a finding that the person caused an employer result or guarantees execution.

Relevance: Relevant to the assigned development-stage role.

Change of company secretary (p. 1 appointment and biography); Annual Report 2018 (pp. 2, 6)

Evidence gaps

  • The complete chronology of former employers and independent credential checks were not established.

  • Independent checks of degrees, employment history, regulator and court records are incomplete; open-web screening is not exhaustive.

Lyapa Manza

Country Manager – Zambia

Current
Role FitAnalyst Inference · Medium materiality

Experience and role fit

Analyst inference: documented management and mining-safety experience is relevant to Zambia project and community execution; no attributable mine commissioning is established.

Responsibility not applicable · Role-fit assessment only; not a finding that the person caused an employer result or guarantees execution.

FailureDocumented · Medium materiality

Kaboko entered external administration after a documented Mansa appointment

Kaboko appointed Manza as Mansa mine manager in 2013. The company’s secured creditor appointed receivers in April 2015, followed by voluntary administrators. A March 2016 update said the receivers had retired and deed administrators continued to control the company. His employment end date and whether he remained involved in 2015 are not established.

Employer context; no individual link established · The reviewed documents do not establish tenure overlap with administration or personal responsibility for the company outcome.

Mansa project update · p. 2, appointment
Appointment of administrators · p. 1, administrator appointment
Company update · p. 1, deed administrator update
Evidence gaps · 3
  • Current issuer management page is undated; the start date of the Atomic Eagle appointment is not established.
  • Independent checks of degrees, employment history, regulator and court records are incomplete; open-web screening is not exhaustive.
  • Manza’s Kaboko employment end date and whether he remained during its 2015 administration are unverified.

Full background report

Lyapa Manza

Country Manager – Zambia

Career chronology

Business failures and setbacks

Kaboko entered external administration after a documented Mansa appointment

2013 appointment; 2015–2016 company administration · documented · medium materiality

Kaboko appointed Manza as Mansa mine manager in 2013. The company’s secured creditor appointed receivers in April 2015, followed by voluntary administrators. A March 2016 update said the receivers had retired and deed administrators continued to control the company. His employment end date and whether he remained involved in 2015 are not established.

Attribution: Employer context; no individual link established. The reviewed documents do not establish tenure overlap with administration or personal responsibility for the company outcome.

Relevance: A prior employer outcome relevant to interpreting the career record, subject to the explicit attribution limit.

Mansa project update (p. 2, appointment); Appointment of administrators (p. 1, administrator appointment); Company update (p. 1, deed administrator update)

Suitability for the current role

Experience and role fit

Roles and evidence through 31 October 2026 · analyst inference · medium materiality

Analyst inference: documented management and mining-safety experience is relevant to Zambia project and community execution; no attributable mine commissioning is established.

Attribution: Responsibility not applicable. Role-fit assessment only; not a finding that the person caused an employer result or guarantees execution.

Relevance: Relevant to the assigned development-stage role.

Board and Management (Management roster); Muntanga Uranium Project environmental and social impact assessment (cover page); Mansa project update (p. 2); Mining safety standards (cover)

Evidence gaps

  • Current issuer management page is undated; the start date of the Atomic Eagle appointment is not established.

  • Independent checks of degrees, employment history, regulator and court records are incomplete; open-web screening is not exhaustive.

  • Manza’s Kaboko employment end date and whether he remained during its 2015 administration are unverified.

Victor Lusambo

Exploration Manager – Zambia

Current
Role FitAnalyst Inference · Medium materiality

Experience and role fit

Analyst inference: the issuer identifies him as leading Muntanga drilling, and a 2018 research record lists him as a co-author on uranium-project environmental assessment. This does not establish sole responsibility for resource outcomes.

Responsibility not applicable · Role-fit assessment only; not a finding that the person caused an employer result or guarantees execution.

Evidence gaps · 2
  • The 2018 research paper full text and independently verified qualifications were unavailable.
  • Independent checks of degrees, employment history, regulator and court records are incomplete; open-web screening is not exhaustive.

Full background report

Victor Lusambo

Exploration Manager – Zambia

Career chronology

Suitability for the current role

Experience and role fit

Roles and evidence through 31 October 2026 · analyst inference · medium materiality

Analyst inference: the issuer identifies him as leading Muntanga drilling, and a 2018 research record lists him as a co-author on uranium-project environmental assessment. This does not establish sole responsibility for resource outcomes.

Attribution: Responsibility not applicable. Role-fit assessment only; not a finding that the person caused an employer result or guarantees execution.

Relevance: Relevant to the assigned development-stage role.

Board and Management (Management roster); Muntanga exploration drilling program (p. 2); Geochemical and bioreactivity assessment at Mutanga (bibliographic record)

Evidence gaps

  • The 2018 research paper full text and independently verified qualifications were unavailable.

  • Independent checks of degrees, employment history, regulator and court records are incomplete; open-web screening is not exhaustive.

Ahmad Swendeh

Country Manager – Niger

Current
Role FitAnalyst Inference · Medium materiality

Experience and role fit

Analyst inference: the 2025 Lotus record names him in finance and commercial management at Kayelekera, experience relevant to Niger project commercial work. Individual responsibility for project results is not established.

Responsibility not applicable · Role-fit assessment only; not a finding that the person caused an employer result or guarantees execution.

Board and Management · Management roster
Evidence gaps · 2
  • Exact dates and scope of employment at both companies and independent qualifications were not established.
  • Independent checks of degrees, employment history, regulator and court records are incomplete; open-web screening is not exhaustive.

Full background report

Ahmad Swendeh

Country Manager – Niger

Career chronology

  • Current issuer page, access 31 October 2026: Atomic Eagle Limited — Country Manager – Niger. Board and Management (Management roster)

  • Named in September 2025 governance statement: Lotus Resources Limited — Commercial and Finance Manager, Kayelekera. Corporate Governance Statement 2025 (p. 29 photo caption)

Suitability for the current role

Experience and role fit

Roles and evidence through 31 October 2026 · analyst inference · medium materiality

Analyst inference: the 2025 Lotus record names him in finance and commercial management at Kayelekera, experience relevant to Niger project commercial work. Individual responsibility for project results is not established.

Attribution: Responsibility not applicable. Role-fit assessment only; not a finding that the person caused an employer result or guarantees execution.

Relevance: Relevant to the assigned development-stage role.

Board and Management (Management roster); Corporate Governance Statement 2025 (p. 29 caption)

Evidence gaps

  • Exact dates and scope of employment at both companies and independent qualifications were not established.

  • Independent checks of degrees, employment history, regulator and court records are incomplete; open-web screening is not exhaustive.

Harry Mustard

Consulting Geologist

Current
Role FitAnalyst Inference · Medium materiality

Experience and role fit

Analyst inference: the issuer identifies him as consultant and competent person for exploration and resource estimates, with uranium experience; independent assurance of estimate accuracy and personal project results is not established.

Responsibility not applicable · Role-fit assessment only; not a finding that the person caused an employer result or guarantees execution.

Board and Management · Management roster
Matador Capital credentials · Management biography
Evidence gaps · 2
  • Exact consulting terms, independent degree/membership verification, and prior employer tenures remain unverified.
  • Independent checks of degrees, employment history, regulator and court records are incomplete; open-web screening is not exhaustive.

Full background report

Harry Mustard

Consulting Geologist

Career chronology

Suitability for the current role

Experience and role fit

Roles and evidence through 31 October 2026 · analyst inference · medium materiality

Analyst inference: the issuer identifies him as consultant and competent person for exploration and resource estimates, with uranium experience; independent assurance of estimate accuracy and personal project results is not established.

Attribution: Responsibility not applicable. Role-fit assessment only; not a finding that the person caused an employer result or guarantees execution.

Relevance: Relevant to the assigned development-stage role.

Board and Management (Management roster); Management discussion and analysis quarter ended March 2026 (Competent Person Statements); Matador Capital credentials (Management biography)

Evidence gaps

  • Exact consulting terms, independent degree/membership verification, and prior employer tenures remain unverified.

  • Independent checks of degrees, employment history, regulator and court records are incomplete; open-web screening is not exhaustive.