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2026-11-06

← DVP management

Full background report

William (Bill) Beament

Managing Director

Career chronology

Contributions and company outcomes

Northern Star merger and Woodlawn restart

2021–2026 · issuer reported · high materiality

Northern Star’s FY2021 report records completion of its Saracen merger and FY2021 underlying profit of A$372m. Develop reported Woodlawn processed 201,130 tonnes in the September 2026 quarter and declared steady state in April 2026. These outcomes reflect teams, acquisitions and market conditions.

Attribution: Role overlaps event; causation unproven. Beament held senior leadership during both periods; the results do not isolate his personal contribution.

Relevance: Relevant to operations and transaction delivery.

Northern Star 2021 annual report (chair letter, FY2021 results); September 2026 quarterly report (pp.1–4 and Woodlawn table); Develop hits steady-state production at Woodlawn (p.1)

Industrial safety

Northern Star fined after Paulsens fatality

2015–2017 · documented · high materiality

Western Australia’s mines department says Northern Star pleaded guilty and was fined A$90,000 in 2017 after a worker died of heat stroke underground in 2015. The regulator cited ventilation and heat-management failures.

Attribution: Role overlaps event; causation unproven. Beament was a Northern Star senior leader; the company was convicted and no personal culpability is established.

Relevance: Material company safety record during his tenure.

WA mines department 2016–17 annual report (printed p.36); Paulsens operations resume (p.1); Metals Acquisition Corp registration statement: advisor biography (Our Advisors, printed pp.7–8)

Northern Star fined after Millennium injuries

2017–2021 · documented · high materiality

WA government reports Northern Star was fined A$150,000 in March 2021 following a 2017 underground vehicle collision that injured two workers. The report identifies inadequate training and risk assessment.

Attribution: Role overlaps event; causation unproven. The fine was against Northern Star; it does not establish his personal responsibility.

Relevance: Additional historical safety context.

Gold miner fined after workers injured driving underground (2021 incident and fine); Metals Acquisition Corp registration statement: advisor biography (Our Advisors, printed pp.7–8)

Environmental record

Woodlawn leachate investigation concerned neighbouring landfill

May 2026 · documented · medium materiality

In May 2026 the NSW EPA ordered Veolia to investigate pollutants in groundwater at the Develop-operated mine, with a possible pathway from Veolia’s landfill. The investigation and source determination remained pending in that dated notice; Veolia described related investigative work in an August-labelled presentation.

Attribution: Role overlaps event; causation unproven. The notice went to Veolia, not Develop or Beament; it does not establish his personal responsibility or the final source.

Relevance: Site environmental management and third-party exposure.

Veolia issued clean-up notice (27 May 2026 news release); Woodlawn corporate update, August 2026 (slides 19–22)

Governance and interests

Develop disclosed related-party equipment purchase

FY2026 · issuer reported · medium materiality

The FY2026 report says Develop incurred A$1.685m to buy a drill rig at cost from Underground Rising, in which Beament had an indirect 50% interest. The board described the amount as immaterial to both parties.

Attribution: Individual involvement documented. The interest and transaction are disclosed; no improper conduct or breach is asserted.

Relevance: Relevant to related-party governance.

Develop 2026 annual report (printed pp.20–22, 48–49 and note 24)

Suitability for the current role

Operating and acquisition experience fits hybrid model

2026 assessment · analyst inference · medium materiality

Northern Star executive leadership, prior contractor operations and Develop’s operating mine provide relevant sector experience, though results reflect wider teams and do not establish outcomes for planned new mines.

Attribution: Responsibility not applicable. A professional judgment based on the roles and reported company outcomes.

Relevance: Directly relevant to owner–contractor strategy.

Metals Acquisition Corp registration statement: advisor biography (Our Advisors, printed pp.7–8); September 2026 quarterly report (pp.1–4 and Woodlawn table)

Evidence gaps

  • Independent degree and professional membership confirmation not obtained.

  • Company safety convictions do not establish individual fault.

  • Final outcome of Veolia groundwater source and remediation investigation not established; its August-labelled presentation discusses continuing investigative work.

  • Broad name-and-employer searches were reused across adverse topics; dedicated individual checks across each regulator, court and past employer were not completed.