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2026-11-06
◂ Monitor AII ASX (delisted September 1 2026); Nasdaq ALM; Frankfurt ALI1

Almonty Industries Inc.

Ramping Producer · Tungsten · KR · PT · ES · US · RW Rating locked: sign in to view v8 · aii-20261024t184304-full
Last 2026-09-02
A$25.89
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1M
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1Y
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Fair value
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Upside
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Mkt cap
A$7.4B
EV
A$7.4B
Cash
A$1.3B
Debt
A$827.9M

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

The leadership combines tungsten, corporate finance and military logistics experience. Sangdong’s first reported concentrate is a company milestone, while Wolfram Camp’s closure, environmental matters and disputed historical contribution litigation are material context; individual wrongdoing is not established.

Decision-relevant facts

Material summary

Individual involvement and employer context shown separately

Lewis Black

Chairman; President; Chief Executive Officer

Current
Full background report for Lewis Black
FailureDocumented · High materiality

Wolfram Camp closure and liquidation

Almonty acquired Wolfram Camp operators in 2014 and its board decided in 2018 to stop funding refurbishment and place the subsidiaries into liquidation. The liquidator reported that the mine was on care and maintenance, funds were insufficient for continued care, and environmental protection orders had been issued for financial and technical breaches. Almonty later said liquidation completed in fiscal 2023.

Role overlaps event; causation unproven · Black and D’Amato were Almonty and WCM directors; their individual causal responsibility for site events was not established.

Wolfram Camp creditors notice · Pages 1–2, appointment, EPOs and financial position
2023 Annual Information Form · Page 1, acquisition and completed liquidation
Almonty ASX prospectus · Section 10.7, pages 127–128: WCM directorships and disputed claims
LegalDisputed · High materiality

Disputed former-director superannuation contribution claim

Almonty disclosed in its 2021 ASX prospectus that former WCM director Darcy Milburn sought contribution from Black and D’Amato after the Australian Taxation Office sued him over alleged unpaid WCM superannuation. Milburn also alleged misleading conduct by Black. The prospectus says all respondents disputed the claims and filed defences; no final outcome was located in targeted searches. The 2026 annual information form reports no material company proceedings but does not resolve this particular case.

Individual involvement documented · The claims name the individuals, but allegations and a contribution claim do not establish misconduct or liability.

Almonty ASX prospectus · Sections 10.6–10.7, pages 126–127
Almonty 2025 Annual Information Form, SEC-hosted copy · Legal Proceedings section, SEC-hosted HTML
EnvironmentDisputed · Medium materiality

Wolfram Camp environmental authority and rehabilitation dispute

The liquidator reported environmental protection orders involving financial and technical breaches. Almonty’s 2022 accounts describe separate environmental-authority allegations against WCM and Tropical Metals, state both subsidiaries denied liability, and report court proceedings seeking further rehabilitation financial assurance. The eventual action and remediation outcomes were not established.

Role overlaps event; causation unproven · Evidence concerns subsidiaries and their regulatory matters; individual culpability has not been established.

2022 audited consolidated financial statements · Contingencies note: environmental action and financial assurance
Company SuccessIssuer Reported · Medium materiality

First Sangdong concentrate reported during tenure

On 29 September 2026 Almonty reported the first bags of Sangdong tungsten concentrate and said the mill was running 13 hours per day during ramp-up. Further ramp-up and Phase II expansion were forward plans, not established delivery.

Role overlaps event; causation unproven · The officer or director held a position during the milestone; sources do not establish individual causation or personal contribution.

Shareholder letter and corporate update · Sangdong first concentrate and operating hours
September 2026 investor presentation · Page 16, leadership roles
Evidence gaps · 5
  • Degrees and professional credentials were not independently verified with awarding institutions or membership registers.
  • Historical employment dates and individual contributions remain incomplete; sources are predominantly issuer disclosures.
  • This is limited open-web research, not an exhaustive court, criminal, sanctions, regulatory, reference or employment verification.
  • No final outcome of the Milburn contribution proceedings was located; their current status cannot be determined.
  • Final outcome of the environmental proceedings and site remediation is not established by the reviewed records.

Full background report

Lewis Black

Chairman; President; Chief Executive Officer

Career chronology

Education and qualifications

Reported education and credentials

As reported by issuer · issuer reported · low materiality

Issuer reports BA (Honours), Manchester University.

Attribution: Responsibility not applicable. Credentials were not independently verified with the awarding body.

Relevance: Qualifications are relevant to role fit; they do not by themselves establish professional results.

2025 Annual Information Form (PDF page 51, directors and officers)

Contributions and company outcomes

First Sangdong concentrate reported during tenure

September 2026 · issuer reported · medium materiality

On 29 September 2026 Almonty reported the first bags of Sangdong tungsten concentrate and said the mill was running 13 hours per day during ramp-up. Further ramp-up and Phase II expansion were forward plans, not established delivery.

Attribution: Role overlaps event; causation unproven. The officer or director held a position during the milestone; sources do not establish individual causation or personal contribution.

Relevance: A reported commissioning milestone at the company’s principal project, not proof of sustained commercial output.

Shareholder letter and corporate update (Sangdong first concentrate and operating hours); September 2026 investor presentation (Page 16, leadership roles)

Business failures and setbacks

Wolfram Camp closure and liquidation

2014–2023 · documented · high materiality

Almonty acquired Wolfram Camp operators in 2014 and its board decided in 2018 to stop funding refurbishment and place the subsidiaries into liquidation. The liquidator reported that the mine was on care and maintenance, funds were insufficient for continued care, and environmental protection orders had been issued for financial and technical breaches. Almonty later said liquidation completed in fiscal 2023.

Attribution: Role overlaps event; causation unproven. Black and D’Amato were Almonty and WCM directors; their individual causal responsibility for site events was not established.

Relevance: Material prior project outcome and oversight context for current leadership.

Wolfram Camp creditors notice (Pages 1–2, appointment, EPOs and financial position); 2023 Annual Information Form (Page 1, acquisition and completed liquidation); Almonty ASX prospectus (Section 10.7, pages 127–128: WCM directorships and disputed claims)

Environmental record

Wolfram Camp environmental authority and rehabilitation dispute

2018–2022; later outcome unresolved · disputed · medium materiality

The liquidator reported environmental protection orders involving financial and technical breaches. Almonty’s 2022 accounts describe separate environmental-authority allegations against WCM and Tropical Metals, state both subsidiaries denied liability, and report court proceedings seeking further rehabilitation financial assurance. The eventual action and remediation outcomes were not established.

Attribution: Role overlaps event; causation unproven. Evidence concerns subsidiaries and their regulatory matters; individual culpability has not been established.

Relevance: Relevant to environmental oversight and remediation history.

Wolfram Camp creditors notice (Pages 1–2); 2022 audited consolidated financial statements (Contingencies note: environmental action and financial assurance)

Litigation and enforcement

Disputed former-director superannuation contribution claim

2019 proceedings; disclosed 2021; latest outcome unresolved · disputed · high materiality

Almonty disclosed in its 2021 ASX prospectus that former WCM director Darcy Milburn sought contribution from Black and D’Amato after the Australian Taxation Office sued him over alleged unpaid WCM superannuation. Milburn also alleged misleading conduct by Black. The prospectus says all respondents disputed the claims and filed defences; no final outcome was located in targeted searches. The 2026 annual information form reports no material company proceedings but does not resolve this particular case.

Attribution: Individual involvement documented. The claims name the individuals, but allegations and a contribution claim do not establish misconduct or liability.

Relevance: Relevant to governance and legal diligence; current disposition remains unknown.

Almonty ASX prospectus (Sections 10.6–10.7, pages 126–127); Almonty 2025 Annual Information Form, SEC-hosted copy (Legal Proceedings section, SEC-hosted HTML)

Suitability for the current role

Role fit and documented background

Through 31 October 2026 · analyst inference · low materiality

Analyst inference: the documented prior roles have relevance to the present title, but individual execution and effectiveness in the current position are not established by the biography.

Attribution: Responsibility not applicable. This is a limited inference from described experience, not proof of competence or performance.

Relevance: Relevant to current mining operations, finance or governance.

2025 Annual Information Form (PDF page 51, directors and officers)

Evidence gaps

  • Degrees and professional credentials were not independently verified with awarding institutions or membership registers.

  • Historical employment dates and individual contributions remain incomplete; sources are predominantly issuer disclosures.

  • This is limited open-web research, not an exhaustive court, criminal, sanctions, regulatory, reference or employment verification.

  • No final outcome of the Milburn contribution proceedings was located; their current status cannot be determined.

  • Final outcome of the environmental proceedings and site remediation is not established by the reviewed records.

Jorge Beristain

Chief Financial Officer

Current
Full background report for Jorge Beristain
LegalDocumented · Medium materiality

Piedmont derivative claims dismissed with prejudice

A 2022 US shareholder derivative complaint named Beristain and other Piedmont directors in claims relating to statements about the Carolina Lithium permitting process. Piedmont reported that the parties stipulated to dismiss the derivative cases with prejudice in March 2024, following dismissal of the related securities case, and the court closed them. Allegations are not findings of personal wrongdoing.

Individual involvement documented · He was named in a derivative complaint; the record reviewed shows a stipulated dismissal and does not establish personal misconduct.

Thomascik v. Phillips docket · Parties and July 5 2022 initial filing
Piedmont quarterly report legal contingencies · Legal contingencies: Thomascik and Varbaro actions and March 2024 closure
Company SuccessDocumented · Medium materiality

Carolina Lithium mining permit during Piedmont board tenure

North Carolina’s environmental department issued Piedmont Lithium a mining permit in 2024, with operational limits and further air, wastewater and local zoning requirements. The permit was a project milestone, not construction or production.

Role overlaps event; causation unproven · Beristain was a Piedmont director at the time. The reviewed evidence does not establish an individual contribution to the permit.

Elevra 2025 meeting materials filed with SEC · Director biography and board service
Mining permit issued for Piedmont Lithium operation · Permit announcement and additional requirements
LegalIssuer Reported · Medium materiality

Piedmont disclosed SEC inquiry closure

Piedmont reported an SEC investigative subpoena in February 2024 concerning mining investments and operations outside the United States. In November 2024 it said the SEC informed the company the investigation was concluded and, based on information supplied at that time, the SEC did not intend to recommend further enforcement action. The reviewed disclosure does not name Beristain as an investigation target.

Role overlaps event; causation unproven · Beristain was a Piedmont director during the inquiry; the company disclosure does not identify him as a subject or establish any personal wrongdoing.

Piedmont 2024 annual report · Notes to consolidated financial statements, legal contingencies, SEC investigation
Evidence gaps · 4
  • Degrees and professional credentials were not independently verified with awarding institutions or membership registers.
  • Historical employment dates and individual contributions remain incomplete; sources are predominantly issuer disclosures.
  • This is limited open-web research, not an exhaustive court, criminal, sanctions, regulatory, reference or employment verification.
  • Personal attribution of Ryerson market-capitalisation and Central Steel improvements was not independently established.

Full background report

Jorge Beristain

Chief Financial Officer

Career chronology

Education and qualifications

Reported education and credentials

As reported by issuer · issuer reported · low materiality

Almonty and Elevra report a Bachelor of Commerce from the University of Alberta and CFA charter.

Attribution: Responsibility not applicable. Credentials were not independently verified with the awarding body.

Relevance: Qualifications are relevant to role fit; they do not by themselves establish professional results.

CFO appointment (Appointment and prior roles, paragraphs 1–3)

Contributions and company outcomes

Carolina Lithium mining permit during Piedmont board tenure

May 2024 · documented · medium materiality

North Carolina’s environmental department issued Piedmont Lithium a mining permit in 2024, with operational limits and further air, wastewater and local zoning requirements. The permit was a project milestone, not construction or production.

Attribution: Role overlaps event; causation unproven. Beristain was a Piedmont director at the time. The reviewed evidence does not establish an individual contribution to the permit.

Relevance: Prior board oversight during project permitting, with implementation still conditional.

Elevra 2025 meeting materials filed with SEC (Director biography and board service); Mining permit issued for Piedmont Lithium operation (Permit announcement and additional requirements)

Litigation and enforcement

Piedmont derivative claims dismissed with prejudice

2022–March 2024 · documented · medium materiality

A 2022 US shareholder derivative complaint named Beristain and other Piedmont directors in claims relating to statements about the Carolina Lithium permitting process. Piedmont reported that the parties stipulated to dismiss the derivative cases with prejudice in March 2024, following dismissal of the related securities case, and the court closed them. Allegations are not findings of personal wrongdoing.

Attribution: Individual involvement documented. He was named in a derivative complaint; the record reviewed shows a stipulated dismissal and does not establish personal misconduct.

Relevance: Prior board governance context; the case is closed on the reported basis.

Thomascik v. Phillips docket (Parties and July 5 2022 initial filing); Piedmont quarterly report legal contingencies (Legal contingencies: Thomascik and Varbaro actions and March 2024 closure)

Piedmont disclosed SEC inquiry closure

February–November 2024 · issuer reported · medium materiality

Piedmont reported an SEC investigative subpoena in February 2024 concerning mining investments and operations outside the United States. In November 2024 it said the SEC informed the company the investigation was concluded and, based on information supplied at that time, the SEC did not intend to recommend further enforcement action. The reviewed disclosure does not name Beristain as an investigation target.

Attribution: Role overlaps event; causation unproven. Beristain was a Piedmont director during the inquiry; the company disclosure does not identify him as a subject or establish any personal wrongdoing.

Relevance: Prior employer regulatory context with reported closure, not a finding of misconduct.

Piedmont 2024 annual report (Notes to consolidated financial statements, legal contingencies, SEC investigation)

Suitability for the current role

Role fit and documented background

Through 31 October 2026 · analyst inference · low materiality

Analyst inference: the documented prior roles have relevance to the present title, but individual execution and effectiveness in the current position are not established by the biography.

Attribution: Responsibility not applicable. This is a limited inference from described experience, not proof of competence or performance.

Relevance: Relevant to current mining operations, finance or governance.

CFO appointment (Appointment and prior roles, paragraphs 1–3)

Evidence gaps

  • Degrees and professional credentials were not independently verified with awarding institutions or membership registers.

  • Historical employment dates and individual contributions remain incomplete; sources are predominantly issuer disclosures.

  • This is limited open-web research, not an exhaustive court, criminal, sanctions, regulatory, reference or employment verification.

  • Personal attribution of Ryerson market-capitalisation and Central Steel improvements was not independently established.

Steven L. Allen

Chief Operating Officer

Current
Full background report for Steven L. Allen
Company SuccessIssuer Reported · Medium materiality

First Sangdong concentrate reported during tenure

On 29 September 2026 Almonty reported the first bags of Sangdong tungsten concentrate and said the mill was running 13 hours per day during ramp-up. Further ramp-up and Phase II expansion were forward plans, not established delivery.

Role overlaps event; causation unproven · The officer or director held a position during the milestone; sources do not establish individual causation or personal contribution.

Shareholder letter and corporate update · Sangdong first concentrate and operating hours
September 2026 investor presentation · Page 16, leadership roles
Evidence gaps · 4
  • Degrees and professional credentials were not independently verified with awarding institutions or membership registers.
  • Historical employment dates and individual contributions remain incomplete; sources are predominantly issuer disclosures.
  • This is limited open-web research, not an exhaustive court, criminal, sanctions, regulatory, reference or employment verification.
  • Independent evidence of individual mine operating delivery before Almonty was not established.

Full background report

Steven L. Allen

Chief Operating Officer

Career chronology

  • Appointed 1 December 2025: Almonty Industries — Chief Operating Officer. COO appointment (Appointment announcement)

  • Prior to joining Almonty; exact tenure dates not established: US Army — Commanding General, 19th Expeditionary Sustainment Command; Director of Logistics, US Forces Korea and combined commands. COO appointment (Biography)

Education and qualifications

Reported education and credentials

As reported by issuer · issuer reported · low materiality

Issuer reports BSc Industrial Technology, University of North Dakota; MS Administration, Central Michigan University; MBA, Florida Institute of Technology; Master of Strategic Studies, US Army War College.

Attribution: Responsibility not applicable. Credentials were not independently verified with the awarding body.

Relevance: Qualifications are relevant to role fit; they do not by themselves establish professional results.

COO appointment (Appointment and biography)

Contributions and company outcomes

First Sangdong concentrate reported during tenure

September 2026 · issuer reported · medium materiality

On 29 September 2026 Almonty reported the first bags of Sangdong tungsten concentrate and said the mill was running 13 hours per day during ramp-up. Further ramp-up and Phase II expansion were forward plans, not established delivery.

Attribution: Role overlaps event; causation unproven. The officer or director held a position during the milestone; sources do not establish individual causation or personal contribution.

Relevance: A reported commissioning milestone at the company’s principal project, not proof of sustained commercial output.

Shareholder letter and corporate update (Sangdong first concentrate and operating hours); September 2026 investor presentation (Page 16, leadership roles)

Suitability for the current role

Role fit and documented background

Through 31 October 2026 · analyst inference · low materiality

Analyst inference: the documented prior roles have relevance to the present title, but individual execution and effectiveness in the current position are not established by the biography.

Attribution: Responsibility not applicable. This is a limited inference from described experience, not proof of competence or performance.

Relevance: Relevant to current mining operations, finance or governance.

COO appointment (Appointment and biography)

Evidence gaps

  • Degrees and professional credentials were not independently verified with awarding institutions or membership registers.

  • Historical employment dates and individual contributions remain incomplete; sources are predominantly issuer disclosures.

  • This is limited open-web research, not an exhaustive court, criminal, sanctions, regulatory, reference or employment verification.

  • Independent evidence of individual mine operating delivery before Almonty was not established.

Guillaume Alain Wiesenbach de Lamaziere

Chief Development Officer

Current
Full background report for Guillaume Alain Wiesenbach de Lamaziere

No supported material findings selected. See this executive’s report and evidence gaps.

Evidence gaps · 4
  • Degrees and professional credentials were not independently verified with awarding institutions or membership registers.
  • Historical employment dates and individual contributions remain incomplete; sources are predominantly issuer disclosures.
  • This is limited open-web research, not an exhaustive court, criminal, sanctions, regulatory, reference or employment verification.
  • AIG restructuring amounts and the individual’s causal contribution were not independently verified.

Full background report

Guillaume Alain Wiesenbach de Lamaziere

Chief Development Officer

Career chronology

  • Since 12 January 2026; interim CFO until June 2026: Almonty Industries — Chief Development Officer. 2025 Annual Information Form (Page 57)

  • Before joining Almonty; dates not established: AIG Asset Management Europe — Chief Executive Officer and Chief Operating and Financial Officer. 2025 Annual Information Form (Page 57)

  • Before joining Almonty; dates not established: Banque AIG — Chief Executive Officer and Chief Operating and Financial Officer. 2025 Annual Information Form (Page 57)

  • Earlier career; dates not established: Goldman Sachs and Natixis — Financial management roles. 2025 Annual Information Form (Page 57)

Education and qualifications

Reported education and credentials

As reported by issuer · issuer reported · low materiality

Issuer reports Texas A&M MBA, Burgundy School of Business finance degree and CFA charter; professional registers were not checked.

Attribution: Responsibility not applicable. Credentials were not independently verified with the awarding body.

Relevance: Qualifications are relevant to role fit; they do not by themselves establish professional results.

2025 Annual Information Form (PDF page 57, officer biography)

Suitability for the current role

Role fit and documented background

Through 31 October 2026 · analyst inference · low materiality

Analyst inference: the documented prior roles have relevance to the present title, but individual execution and effectiveness in the current position are not established by the biography.

Attribution: Responsibility not applicable. This is a limited inference from described experience, not proof of competence or performance.

Relevance: Relevant to current mining operations, finance or governance.

2025 Annual Information Form (PDF page 57, officer biography)

Evidence gaps

  • Degrees and professional credentials were not independently verified with awarding institutions or membership registers.

  • Historical employment dates and individual contributions remain incomplete; sources are predominantly issuer disclosures.

  • This is limited open-web research, not an exhaustive court, criminal, sanctions, regulatory, reference or employment verification.

  • AIG restructuring amounts and the individual’s causal contribution were not independently verified.

Daniel D’Amato

Executive Director

Current
Full background report for Daniel D’Amato
FailureDocumented · High materiality

Wolfram Camp closure and liquidation

Almonty acquired Wolfram Camp operators in 2014 and its board decided in 2018 to stop funding refurbishment and place the subsidiaries into liquidation. The liquidator reported that the mine was on care and maintenance, funds were insufficient for continued care, and environmental protection orders had been issued for financial and technical breaches. Almonty later said liquidation completed in fiscal 2023.

Role overlaps event; causation unproven · Black and D’Amato were Almonty and WCM directors; their individual causal responsibility for site events was not established.

Wolfram Camp creditors notice · Pages 1–2, appointment, EPOs and financial position
2023 Annual Information Form · Page 1, acquisition and completed liquidation
Almonty ASX prospectus · Section 10.7, pages 127–128: WCM directorships and disputed claims
LegalDisputed · High materiality

Disputed former-director superannuation contribution claim

Almonty disclosed in its 2021 ASX prospectus that former WCM director Darcy Milburn sought contribution from Black and D’Amato after the Australian Taxation Office sued him over alleged unpaid WCM superannuation. Milburn also alleged misleading conduct by Black. The prospectus says all respondents disputed the claims and filed defences; no final outcome was located in targeted searches. The 2026 annual information form reports no material company proceedings but does not resolve this particular case.

Individual involvement documented · The claims name the individuals, but allegations and a contribution claim do not establish misconduct or liability.

Almonty ASX prospectus · Sections 10.6–10.7, pages 126–127
Almonty 2025 Annual Information Form, SEC-hosted copy · Legal Proceedings section, SEC-hosted HTML
EnvironmentDisputed · Medium materiality

Wolfram Camp environmental authority and rehabilitation dispute

The liquidator reported environmental protection orders involving financial and technical breaches. Almonty’s 2022 accounts describe separate environmental-authority allegations against WCM and Tropical Metals, state both subsidiaries denied liability, and report court proceedings seeking further rehabilitation financial assurance. The eventual action and remediation outcomes were not established.

Role overlaps event; causation unproven · Evidence concerns subsidiaries and their regulatory matters; individual culpability has not been established.

2022 audited consolidated financial statements · Contingencies note: environmental action and financial assurance
Company SuccessIssuer Reported · Medium materiality

First Sangdong concentrate reported during tenure

On 29 September 2026 Almonty reported the first bags of Sangdong tungsten concentrate and said the mill was running 13 hours per day during ramp-up. Further ramp-up and Phase II expansion were forward plans, not established delivery.

Role overlaps event; causation unproven · The officer or director held a position during the milestone; sources do not establish individual causation or personal contribution.

Shareholder letter and corporate update · Sangdong first concentrate and operating hours
September 2026 investor presentation · Page 16, leadership roles
Evidence gaps · 5
  • Degrees and professional credentials were not independently verified with awarding institutions or membership registers.
  • Historical employment dates and individual contributions remain incomplete; sources are predominantly issuer disclosures.
  • This is limited open-web research, not an exhaustive court, criminal, sanctions, regulatory, reference or employment verification.
  • No final outcome of the Milburn contribution proceedings was located; their current status cannot be determined.
  • Final outcome of the environmental proceedings and site remediation is not established by the reviewed records.

Full background report

Daniel D’Amato

Executive Director

Career chronology

Education and qualifications

Reported education and credentials

As reported by issuer · issuer reported · low materiality

Issuer reports BSc from Siena College.

Attribution: Responsibility not applicable. Credentials were not independently verified with the awarding body.

Relevance: Qualifications are relevant to role fit; they do not by themselves establish professional results.

2025 Annual Information Form (PDF page 52, directors and officers)

Contributions and company outcomes

First Sangdong concentrate reported during tenure

September 2026 · issuer reported · medium materiality

On 29 September 2026 Almonty reported the first bags of Sangdong tungsten concentrate and said the mill was running 13 hours per day during ramp-up. Further ramp-up and Phase II expansion were forward plans, not established delivery.

Attribution: Role overlaps event; causation unproven. The officer or director held a position during the milestone; sources do not establish individual causation or personal contribution.

Relevance: A reported commissioning milestone at the company’s principal project, not proof of sustained commercial output.

Shareholder letter and corporate update (Sangdong first concentrate and operating hours); September 2026 investor presentation (Page 16, leadership roles)

Business failures and setbacks

Wolfram Camp closure and liquidation

2014–2023 · documented · high materiality

Almonty acquired Wolfram Camp operators in 2014 and its board decided in 2018 to stop funding refurbishment and place the subsidiaries into liquidation. The liquidator reported that the mine was on care and maintenance, funds were insufficient for continued care, and environmental protection orders had been issued for financial and technical breaches. Almonty later said liquidation completed in fiscal 2023.

Attribution: Role overlaps event; causation unproven. Black and D’Amato were Almonty and WCM directors; their individual causal responsibility for site events was not established.

Relevance: Material prior project outcome and oversight context for current leadership.

Wolfram Camp creditors notice (Pages 1–2, appointment, EPOs and financial position); 2023 Annual Information Form (Page 1, acquisition and completed liquidation); Almonty ASX prospectus (Section 10.7, pages 127–128: WCM directorships and disputed claims)

Environmental record

Wolfram Camp environmental authority and rehabilitation dispute

2018–2022; later outcome unresolved · disputed · medium materiality

The liquidator reported environmental protection orders involving financial and technical breaches. Almonty’s 2022 accounts describe separate environmental-authority allegations against WCM and Tropical Metals, state both subsidiaries denied liability, and report court proceedings seeking further rehabilitation financial assurance. The eventual action and remediation outcomes were not established.

Attribution: Role overlaps event; causation unproven. Evidence concerns subsidiaries and their regulatory matters; individual culpability has not been established.

Relevance: Relevant to environmental oversight and remediation history.

Wolfram Camp creditors notice (Pages 1–2); 2022 audited consolidated financial statements (Contingencies note: environmental action and financial assurance)

Litigation and enforcement

Disputed former-director superannuation contribution claim

2019 proceedings; disclosed 2021; latest outcome unresolved · disputed · high materiality

Almonty disclosed in its 2021 ASX prospectus that former WCM director Darcy Milburn sought contribution from Black and D’Amato after the Australian Taxation Office sued him over alleged unpaid WCM superannuation. Milburn also alleged misleading conduct by Black. The prospectus says all respondents disputed the claims and filed defences; no final outcome was located in targeted searches. The 2026 annual information form reports no material company proceedings but does not resolve this particular case.

Attribution: Individual involvement documented. The claims name the individuals, but allegations and a contribution claim do not establish misconduct or liability.

Relevance: Relevant to governance and legal diligence; current disposition remains unknown.

Almonty ASX prospectus (Sections 10.6–10.7, pages 126–127); Almonty 2025 Annual Information Form, SEC-hosted copy (Legal Proceedings section, SEC-hosted HTML)

Suitability for the current role

Role fit and documented background

Through 31 October 2026 · analyst inference · low materiality

Analyst inference: the documented prior roles have relevance to the present title, but individual execution and effectiveness in the current position are not established by the biography.

Attribution: Responsibility not applicable. This is a limited inference from described experience, not proof of competence or performance.

Relevance: Relevant to current mining operations, finance or governance.

2025 Annual Information Form (PDF page 52, directors and officers)

Evidence gaps

  • Degrees and professional credentials were not independently verified with awarding institutions or membership registers.

  • Historical employment dates and individual contributions remain incomplete; sources are predominantly issuer disclosures.

  • This is limited open-web research, not an exhaustive court, criminal, sanctions, regulatory, reference or employment verification.

  • No final outcome of the Milburn contribution proceedings was located; their current status cannot be determined.

  • Final outcome of the environmental proceedings and site remediation is not established by the reviewed records.

David Hanick

Executive Director

Current
Full background report for David Hanick

No supported material findings selected. See this executive’s report and evidence gaps.

Evidence gaps · 3
  • Degrees and professional credentials were not independently verified with awarding institutions or membership registers.
  • Historical employment dates and individual contributions remain incomplete; sources are predominantly issuer disclosures.
  • This is limited open-web research, not an exhaustive court, criminal, sanctions, regulatory, reference or employment verification.

Full background report

David Hanick

Executive Director

Career chronology

Education and qualifications

Reported education and credentials

As reported by issuer · issuer reported · low materiality

Issuer reports joint MBA from Schulich and Bachelor of Laws from Osgoode Hall; claimed Ontario law membership was not checked against registry.

Attribution: Responsibility not applicable. Credentials were not independently verified with the awarding body.

Relevance: Qualifications are relevant to role fit; they do not by themselves establish professional results.

2025 Annual Information Form (PDF page 54, directors and officers)

Suitability for the current role

Role fit and documented background

Through 31 October 2026 · analyst inference · low materiality

Analyst inference: the documented prior roles have relevance to the present title, but individual execution and effectiveness in the current position are not established by the biography.

Attribution: Responsibility not applicable. This is a limited inference from described experience, not proof of competence or performance.

Relevance: Relevant to current mining operations, finance or governance.

2025 Annual Information Form (PDF page 54, directors and officers)

Evidence gaps

  • Degrees and professional credentials were not independently verified with awarding institutions or membership registers.

  • Historical employment dates and individual contributions remain incomplete; sources are predominantly issuer disclosures.

  • This is limited open-web research, not an exhaustive court, criminal, sanctions, regulatory, reference or employment verification.