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2026-11-06
◂ Monitor ALR ASX

Altair Minerals Limited

Discovery Drill Stage · Gold · Copper · Guyana · Australia · Peru Rating locked: sign in to view v6.2
Last 2026-11-06
A$0.028
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Mkt cap
A$185.6M
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A$152M
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A$33.6M
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A$0
2 newer ASX announcements not yet reflected in this valuation

People, delivery and responsibility

Management background checks

Evidence through 2026-10-09

Research assessment

Executive team

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

Leadership evidence now documents current and prior career histories for several executives, especially Munson’s issuer-attributed Toroparu discovery background, Van Osta’s exploration career and Mouchacca’s secretarial-services practice. The principal material open matter is BHP’s pending Warden’s Court proceeding against Altair over Olympic Domain licence applications. The April hearing outcome was not located by cutoff, and no personal misconduct is alleged. Individual outcome attribution and several executive chronologies remain limited.

Decision-relevant facts

Material summary

Individual involvement and employer context shown separately

Faheem Ahmed

Chief Executive Officer

Current
Full background report for Faheem Ahmed
LegalIssuer Reported · Medium materiality

Altair is defendant in pending Olympic Domain licence proceeding

The South Australian Mining Register identifies CIV-25-009635 as BHP Olympic Dam Corporation Pty Ltd v Altair Minerals Limited. In February 2026 the Warden listed argument for 16 April. Altair’s June-quarter report said the matter was ongoing and the next directions hearing was set for 19 October 2026, after the evidence cutoff. No decision on the April hearing was found by cutoff. The issuer reports that Olympic Domain remained 100% owned by Altair. The CEO approved company releases, but no personal legal conduct is alleged.

Role overlaps event; causation unproven · Company filings signed/approved by management describe a corporate land-tenure proceeding; no personal liability or misconduct finding is established.

Mining Register EL6183 proceeding entry · register proceeding CIV-25-009635
Role FitAnalyst Inference · Medium materiality

Project and risk-modelling background is relevant to junior exploration leadership

Issuer annual report reports more than seven years in project evaluation, asset management and risk modelling and lists engineering/project-management degrees. Leadership page gives his present CEO remit. Exact pre-2023 employment chronology and individual operating outcomes remain incomplete.

Responsibility not applicable · Issuer-reported experience supports functional alignment; no performance inference beyond role relevance.

Corporate · CEO biography
Evidence gaps · 5
  • The April 2026 Warden’s Court argument outcome was not found; June quarter still showed the case pending with a 19 October 2026 next hearing, after cutoff.
  • The government-hosted 2024 PEPR PDF was inaccessible in open-web review; its reported rehabilitation concern is not established as a breach or personal finding.
  • Detailed pre-2023 role chronology and primary verification of qualifications remain incomplete.
  • Open-web adverse searches are not exhaustive litigation, credential, safety, environmental or sanctions checks.
  • A 2024 EL6183 PEPR report mentioning uncertainty over a prior contractor’s rehabilitation was reported in research but could not be read; it is not treated as a sourced breach or personal finding.

Full background report

Faheem Ahmed

Chief Executive Officer

Career chronology

  • Current at 9 October 2026: Altair Minerals Limited — Chief Executive Officer. Corporate (Board & Management / Guyana Strategic Leadership Team)

  • CEO since 21 March 2024: Altair Minerals Limited — Chief Executive Officer. Altair Minerals Annual Report 2024 (CEO appointment and tenure)

Litigation and enforcement

Altair is defendant in pending Olympic Domain licence proceeding

Feb–Oct 2026 · issuer reported · medium materiality

The South Australian Mining Register identifies CIV-25-009635 as BHP Olympic Dam Corporation Pty Ltd v Altair Minerals Limited. In February 2026 the Warden listed argument for 16 April. Altair’s June-quarter report said the matter was ongoing and the next directions hearing was set for 19 October 2026, after the evidence cutoff. No decision on the April hearing was found by cutoff. The issuer reports that Olympic Domain remained 100% owned by Altair. The CEO approved company releases, but no personal legal conduct is alleged.

Attribution: Role overlaps event; causation unproven. Company filings signed/approved by management describe a corporate land-tenure proceeding; no personal liability or misconduct finding is established.

Relevance: Material to exploration tenure and capital allocation. BHP is plaintiff; Altair is defendant, so it would be inaccurate to describe this as an ALR claim against BHP.

Olympic Domain Project – South Australia update (p. 10); Altair Minerals Quarterly Report June 2026 (lines 246–251); Mining Register EL6183 proceeding entry (register proceeding CIV-25-009635)

Suitability for the current role

Project and risk-modelling background is relevant to junior exploration leadership

Current role · analyst inference · medium materiality

Issuer annual report reports more than seven years in project evaluation, asset management and risk modelling and lists engineering/project-management degrees. Leadership page gives his present CEO remit. Exact pre-2023 employment chronology and individual operating outcomes remain incomplete.

Attribution: Responsibility not applicable. Issuer-reported experience supports functional alignment; no performance inference beyond role relevance.

Relevance: Relevant to exploration portfolio evaluation and licence management.

Corporate (CEO biography); Altair Minerals Annual Report 2025 (pp. 522–534)

Evidence gaps

  • The April 2026 Warden’s Court argument outcome was not found; June quarter still showed the case pending with a 19 October 2026 next hearing, after cutoff.

  • The government-hosted 2024 PEPR PDF was inaccessible in open-web review; its reported rehabilitation concern is not established as a breach or personal finding.

  • Detailed pre-2023 role chronology and primary verification of qualifications remain incomplete.

  • Open-web adverse searches are not exhaustive litigation, credential, safety, environmental or sanctions checks.

  • A 2024 EL6183 PEPR report mentioning uncertainty over a prior contractor’s rehabilitation was reported in research but could not be read; it is not treated as a sourced breach or personal finding.

Rich Munson

Guyana Executive Director

Current
Full background report for Rich Munson
Personal SuccessIssuer Reported · Medium materiality

Issuer credits Munson with co-leading Toroparu discovery

Altair’s August 2025 appointment release describes Munson as co-leading the discovery of Toroparu and reports a resource exceeding 10 Moz over the exploration period, and says he raised more than US$500m across projects. These are issuer-attributed professional claims; the source does not establish commercial production, financing by Munson alone or mine construction.

Individual involvement documented · The issuer directly attributes discovery/co-leadership and fundraising history, though underlying independent validation was not completed.

Role FitAnalyst Inference · Medium materiality

Guyana project and financing background aligns with strategic role

Analyst inference: issuer-reported Guyana tenure, discovery leadership and fundraising history are relevant to Altair’s Guyana strategy. Available sources do not verify full dates or commercial delivery at prior projects.

Responsibility not applicable · Prior achievements remain issuer-reported; no mine-delivery record established.

Corporate · Guyana leadership profile
Evidence gaps · 3
  • Exact ETK and Sandspring tenure dates and primary source attribution for discovery/fundraising outcomes were not established.
  • Toroparu remained development-stage in the reviewed materials; no commercial operation was established during his documented discovery contribution.
  • Open-web checks are not exhaustive employer safety, environmental, litigation, credential or sanctions reviews.

Full background report

Rich Munson

Guyana Executive Director

Career chronology

Education and qualifications

Law degrees reported in appointment biography

As reported 18 Aug 2025 · issuer reported · low materiality

Appointment notice lists JD from University of San Diego and LLM from University of Denver. Primary degree verification was not performed.

Attribution: Responsibility not applicable. Issuer biography lists credentials; no independent university confirmation.

Relevance: Relevant to executive director role and Guyana project negotiations, but not a substitute for technical operating experience.

Appointment of Rich Munson as Executive Director (p. 2)

Personal achievements

Issuer credits Munson with co-leading Toroparu discovery

Approximately decade-long prior project tenure; exact dates absent · issuer reported · medium materiality

Altair’s August 2025 appointment release describes Munson as co-leading the discovery of Toroparu and reports a resource exceeding 10 Moz over the exploration period, and says he raised more than US$500m across projects. These are issuer-attributed professional claims; the source does not establish commercial production, financing by Munson alone or mine construction.

Attribution: Individual involvement documented. The issuer directly attributes discovery/co-leadership and fundraising history, though underlying independent validation was not completed.

Relevance: Relevant discovery and capital-raising experience in Guyana; Toroparu remains development-stage rather than a producing mine.

Appointment of Rich Munson as Executive Director (pp. 1–2)

Suitability for the current role

Guyana project and financing background aligns with strategic role

Current role · analyst inference · medium materiality

Analyst inference: issuer-reported Guyana tenure, discovery leadership and fundraising history are relevant to Altair’s Guyana strategy. Available sources do not verify full dates or commercial delivery at prior projects.

Attribution: Responsibility not applicable. Prior achievements remain issuer-reported; no mine-delivery record established.

Relevance: Strategic fit is supported for exploration and project finance with material evidence limitations.

Appointment of Rich Munson as Executive Director (pp. 1–2); Corporate (Guyana leadership profile)

Evidence gaps

  • Exact ETK and Sandspring tenure dates and primary source attribution for discovery/fundraising outcomes were not established.

  • Toroparu remained development-stage in the reviewed materials; no commercial operation was established during his documented discovery contribution.

  • Open-web checks are not exhaustive employer safety, environmental, litigation, credential or sanctions reviews.

Pascal Van Osta

Head of Exploration

Current
Full background report for Pascal Van Osta
Personal SuccessIssuer Reported · Medium materiality

Exploration leadership across multiple West African gold projects

Roscan appointment profile describes Van Osta’s previous exploration work at Morila, Samira Hill, Agbaou and Toroparu and executive exploration roles at Etruscan/Endeavour. This documents project exposure but the opened sources do not isolate his individual discovery contribution or demonstrate mine operation delivery.

Role overlaps event; causation unproven · Positions and project associations are reported; no specific personal causal discovery or production attribution is established.

EducationIssuer Reported · Medium materiality

Geological and mineralogical science qualification

Roscan’s dated executive biography reports an Honours Master in Geological and Mineralogical Sciences from Free University Brussels and more than 30 years’ experience; exact full employment chronology is incomplete.

Responsibility not applicable · Employer biography supports stated qualification; degree was not independently verified.

Roscan Gold announces senior management changes · biography and qualifications
Role FitAnalyst Inference · Medium materiality

Senior exploration experience aligns with exploration remit

Analyst inference: 30+ years in exploration and prior West African project roles are relevant to exploration planning. Full dates and independently verified technical outcomes remain limited.

Responsibility not applicable · No individual outcome beyond documented role history is inferred.

Evidence gaps · 3
  • Prior project chronology is partial; precise employment dates before Komet and Roscan were not established.
  • The reviewed company biographies do not independently validate technical discoveries or production outcomes personally attributable to Van Osta.
  • Open-web adverse searches are not exhaustive employer safety, environmental, litigation, credential or sanctions checks.

Full background report

Pascal Van Osta

Head of Exploration

Career chronology

Education and qualifications

Geological and mineralogical science qualification

Prior to 2021 · issuer reported · medium materiality

Roscan’s dated executive biography reports an Honours Master in Geological and Mineralogical Sciences from Free University Brussels and more than 30 years’ experience; exact full employment chronology is incomplete.

Attribution: Responsibility not applicable. Employer biography supports stated qualification; degree was not independently verified.

Relevance: Directly relevant to Head of Exploration responsibilities.

Roscan Gold announces senior management changes (biography and qualifications)

Personal achievements

Exploration leadership across multiple West African gold projects

Career before Sep 2025 · issuer reported · medium materiality

Roscan appointment profile describes Van Osta’s previous exploration work at Morila, Samira Hill, Agbaou and Toroparu and executive exploration roles at Etruscan/Endeavour. This documents project exposure but the opened sources do not isolate his individual discovery contribution or demonstrate mine operation delivery.

Attribution: Role overlaps event; causation unproven. Positions and project associations are reported; no specific personal causal discovery or production attribution is established.

Relevance: Relevant exploration leadership experience for ALR’s Guyana and South Australian programmes.

Roscan Gold announces senior management changes (career history); Appointment of Head of Exploration (appointment)

Suitability for the current role

Senior exploration experience aligns with exploration remit

Current role · analyst inference · medium materiality

Analyst inference: 30+ years in exploration and prior West African project roles are relevant to exploration planning. Full dates and independently verified technical outcomes remain limited.

Attribution: Responsibility not applicable. No individual outcome beyond documented role history is inferred.

Relevance: High functional alignment to mineral exploration, with outcome and adverse history gaps.

Roscan Gold announces senior management changes (career and education); Appointment of Head of Exploration (appointment)

Evidence gaps

  • Prior project chronology is partial; precise employment dates before Komet and Roscan were not established.

  • The reviewed company biographies do not independently validate technical discoveries or production outcomes personally attributable to Van Osta.

  • Open-web adverse searches are not exhaustive employer safety, environmental, litigation, credential or sanctions checks.

Justin Mouchacca

Company Secretary

Current
Full background report for Justin Mouchacca
EducationIssuer Reported · Medium materiality

Accounting degree and chartered-accountancy / governance qualifications

FY2020 annual report reports Bachelor of Business (Accounting) from RMIT, CA since 2011 and corporate-secretarial experience. FY2025 report describes 17+ years’ experience. Credentials are issuer reported and not independently verified.

Responsibility not applicable · Issuer annual-report biography supports degree and professional membership; no primary qualification-register search.

Role FitAnalyst Inference · Medium materiality

Long-running outsourced listed-company secretary and finance practice

Reported principal at JM Corporate Services since July 2019 after a Leydin Freyer director role from July 2013 to June 2019, providing company secretarial and finance services to ASX entities. Full concurrent-client list and service outcomes were not evaluated.

Responsibility not applicable · Issuer report states service history; no individual governance quality or client outcome is inferred.

Evidence gaps · 3
  • Current concurrent issuer appointments and total service workload were not comprehensively reconciled.
  • No person-specific professional disciplinary or legal finding was identified in scoped searches; this is not a clearance.
  • Open-web checks are not exhaustive safety, environmental or sanctions reviews.

Full background report

Justin Mouchacca

Company Secretary

Career chronology

Education and qualifications

Accounting degree and chartered-accountancy / governance qualifications

Through FY2025 · issuer reported · medium materiality

FY2020 annual report reports Bachelor of Business (Accounting) from RMIT, CA since 2011 and corporate-secretarial experience. FY2025 report describes 17+ years’ experience. Credentials are issuer reported and not independently verified.

Attribution: Responsibility not applicable. Issuer annual-report biography supports degree and professional membership; no primary qualification-register search.

Relevance: Relevant to ASX filings, financial administration and corporate governance.

Altair Minerals Annual Report 2020 (p. 25); Altair Minerals Annual Report 2025 (p. 529–534)

Suitability for the current role

Long-running outsourced listed-company secretary and finance practice

2013–cutoff · analyst inference · medium materiality

Reported principal at JM Corporate Services since July 2019 after a Leydin Freyer director role from July 2013 to June 2019, providing company secretarial and finance services to ASX entities. Full concurrent-client list and service outcomes were not evaluated.

Attribution: Responsibility not applicable. Issuer report states service history; no individual governance quality or client outcome is inferred.

Relevance: Strong functional match, with concurrent client workload and client-level outcomes not fully established.

Altair Minerals Annual Report 2020 (p. 25); Altair Minerals Annual Report 2025 (p. 529–534)

Evidence gaps

  • Current concurrent issuer appointments and total service workload were not comprehensively reconciled.

  • No person-specific professional disciplinary or legal finding was identified in scoped searches; this is not a clearance.

  • Open-web checks are not exhaustive safety, environmental or sanctions reviews.