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2026-11-06
◂ Monitor ELT ASX

Elementos Limited

DFS Unfunded Developer · Tin · Tungsten · Spain · Australia Rating locked: sign in to view v6.2
Last 2026-11-06
A$0.365
1D
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1M
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YTD
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1Y
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Upside
Locked: sign in to view
Mkt cap
A$160M
EV
A$119.7M
Cash
A$40.3M
Debt
A$0
4 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

Limited-scope management background review of Elementos Limited. Issuer disclosures support the rostered offices; person-level chronology, attributed outcomes and targeted adverse-record research remain incomplete.

Decision-relevant facts

Material summary

Individual involvement and employer context shown separately

Joe David

Managing Director

Current

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

Evidence gaps · 3
  • Prior-employer chronology and qualifications are based mainly on issuer disclosures; independent employment and credential verification was not available in the reviewed public record.
  • The documented name/employer searches are not an exhaustive court, ASIC, sanctions, safety or environmental registry check; no relevant adverse finding surfaced in the searches documented.
  • Company-level outcomes are not attributed personally without a source connecting the executive to the action or result.

Full background report

Joe David

Managing Director

Career chronology

  • current at cutoff; start date undisclosed: Elementos Limited — Managing Director. Annual Report to shareholders (Corporate directory or key management personnel disclosure)

  • 2017–2021: Project Advisory Group — Owner/director and project consultant. Appointment of Chief Executive Officer (Appointment release: ran project consultancy for four years, advised Flinders Mines, BBI Group, Salt Lake Potash and development contractors.)

  • before 2021: Flinders Mines — Executive Development Manager. Appointment of Chief Executive Officer (Appointment release: managed drilling/data collection, engineering, cost estimates and environment/studies; contribution culminated in infrastructure haulage/farm-in agreement.)

  • before 2017: BBI Group — Business Development Manager. Appointment of Chief Executive Officer (Appointment release: role contributed to delivery of definitive feasibility study for Pilbara rail, port and transhipment project.)

  • 2021-04-13: Elementos Ltd — Chief Executive Officer / Managing Director. Annual Report to shareholders (2026 annual report, Remuneration Report: CEO from 13 April 2021, MD from 27 January 2022; engineering/commercial background.)

Contributions and company outcomes

Oropesa DFS and maiden Ore Reserve completed; permitting advanced

FY2026 · issuer reported · medium materiality

Annual Report 2026, operating review: project achieved DFS and maiden Ore Reserve, and obtained formal Overriding Public Interest status supporting the remaining permitting pathway. Company delivery during MD tenure; no individual causation beyond executive oversight.

Attribution: Role overlaps event; causation unproven. The source establishes the executive’s role during or around the event; individual causation is not inferred unless the cited record directly says so.

Relevance: Adds role-specific career, delivery or governance context; distinguish company-level outcomes from individual responsibility.

Annual Report to shareholders (Annual Report 2026, operating review)

Suitability for the current role

Limited public evidence for role fit

current at cutoff; start date undisclosed · analyst inference · low materiality

The issuer identifies Joe David as Managing Director. The cited source establishes the disclosed role and any stated appointment date. This source alone does not establish attributable prior-employer outcomes, verified credentials or independently benchmarked delivery. This is an evidence limitation, not an adverse personal finding.

Attribution: Responsibility not applicable. No personal outcome responsibility is inferred from the title alone.

Relevance: The role is relevant to the company’s current leadership assessment; fuller role-fit comparison requires verified chronology and outcome evidence.

Annual Report to shareholders (Corporate directory, key management personnel or appointment disclosure; role and date)

Evidence gaps

  • Prior-employer chronology and qualifications are based mainly on issuer disclosures; independent employment and credential verification was not available in the reviewed public record.

  • The documented name/employer searches are not an exhaustive court, ASIC, sanctions, safety or environmental registry check; no relevant adverse finding surfaced in the searches documented.

  • Company-level outcomes are not attributed personally without a source connecting the executive to the action or result.

Drew Speedy

Chief Financial Officer

Current

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

Evidence gaps · 3
  • Prior-employer chronology and qualifications are based mainly on issuer disclosures; independent employment and credential verification was not available in the reviewed public record.
  • The documented name/employer searches are not an exhaustive court, ASIC, sanctions, safety or environmental registry check; no relevant adverse finding surfaced in the searches documented.
  • Company-level outcomes are not attributed personally without a source connecting the executive to the action or result.

Full background report

Drew Speedy

Chief Financial Officer

Career chronology

  • current at cutoff; start date undisclosed: Elementos Limited — Chief Financial Officer. Annual Report to shareholders (Corporate directory or key management personnel disclosure)

  • before 2019: UIL Energy Ltd — Chief Financial Officer and Company Secretary. Drew Speedy biography (Issuer biography: CFO/secretary until board-recommended takeover by Strike Energy.)

  • before sale: Bow Energy Ltd — Financial Controller. Drew Speedy biography (Issuer biography: held financial controller role until Bow Energy was sold to Arrow Energy.)

  • before 2019: Arrow Energy; Blue Energy; Queensland Gas Company — Senior finance roles. Drew Speedy biography (Issuer biography: finance roles across these companies; Queensland Gas grew from about A$20m to about A$2bn market capitalization during his tenure (no personal causation claimed).)

  • 2019-04-01: Elementos Ltd — Chief Financial Officer. Annual Report to shareholders (2026 annual report, Remuneration Report: appointed CFO 1 April 2019.)

Contributions and company outcomes

Elementos completed Oropesa definitive feasibility work

FY2026 · issuer reported · medium materiality

Annual Report 2026, operating review and CFO remuneration section: DFS and resource/reserve work were completed while CFO; role overlap only.

Attribution: Role overlaps event; causation unproven. The source establishes the executive’s role during or around the event; individual causation is not inferred unless the cited record directly says so.

Relevance: Adds role-specific career, delivery or governance context; distinguish company-level outcomes from individual responsibility.

Annual Report to shareholders (Annual Report 2026, operating review and CFO remuneration section)

Suitability for the current role

Limited public evidence for role fit

current at cutoff; start date undisclosed · analyst inference · low materiality

The issuer identifies Drew Speedy as Chief Financial Officer. The cited source establishes the disclosed role and any stated appointment date. This source alone does not establish attributable prior-employer outcomes, verified credentials or independently benchmarked delivery. This is an evidence limitation, not an adverse personal finding.

Attribution: Responsibility not applicable. No personal outcome responsibility is inferred from the title alone.

Relevance: The role is relevant to the company’s current leadership assessment; fuller role-fit comparison requires verified chronology and outcome evidence.

Annual Report to shareholders (Corporate directory, key management personnel or appointment disclosure; role and date)

Evidence gaps

  • Prior-employer chronology and qualifications are based mainly on issuer disclosures; independent employment and credential verification was not available in the reviewed public record.

  • The documented name/employer searches are not an exhaustive court, ASIC, sanctions, safety or environmental registry check; no relevant adverse finding surfaced in the searches documented.

  • Company-level outcomes are not attributed personally without a source connecting the executive to the action or result.

Duncan Cornish

Company Secretary

Current

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

Evidence gaps · 3
  • Prior-employer chronology and qualifications are based mainly on issuer disclosures; independent employment and credential verification was not available in the reviewed public record.
  • The documented name/employer searches are not an exhaustive court, ASIC, sanctions, safety or environmental registry check; no relevant adverse finding surfaced in the searches documented.
  • Company-level outcomes are not attributed personally without a source connecting the executive to the action or result.

Full background report

Duncan Cornish

Company Secretary

Career chronology

  • current at cutoff; start date undisclosed: Elementos Limited — Company Secretary. Annual Report to shareholders (Corporate directory or key management personnel disclosure)

  • before Elementos: EY and PwC — Chartered accountant. Annual Report to shareholders (2026 annual report, Directors’ Report: more than 20 years with EY and PwC; CAANZ member; current company secretary.)

  • current: Elementos Ltd — Company Secretary. Our team (Issuer team page: company secretary; date not specified.)

Governance and interests

Annual reporting includes audited financial statements and governance disclosures

FY2026 · issuer reported · medium materiality

Annual Report 2026, auditor and corporate governance sections; company secretary role is disclosed, but no source attributes project execution to this role.

Attribution: Role overlaps event; causation unproven. The source establishes the executive’s role during or around the event; individual causation is not inferred unless the cited record directly says so.

Relevance: Adds role-specific career, delivery or governance context; distinguish company-level outcomes from individual responsibility.

Annual Report to shareholders (Annual Report 2026, auditor and corporate governance sections; company secretary role is disclosed, but no source attributes project execution to this role.)

Suitability for the current role

Limited public evidence for role fit

current at cutoff; start date undisclosed · analyst inference · low materiality

The issuer identifies Duncan Cornish as Company Secretary. The cited source establishes the disclosed role and any stated appointment date. This source alone does not establish attributable prior-employer outcomes, verified credentials or independently benchmarked delivery. This is an evidence limitation, not an adverse personal finding.

Attribution: Responsibility not applicable. No personal outcome responsibility is inferred from the title alone.

Relevance: The role is relevant to the company’s current leadership assessment; fuller role-fit comparison requires verified chronology and outcome evidence.

Annual Report to shareholders (Corporate directory, key management personnel or appointment disclosure; role and date)

Evidence gaps

  • Prior-employer chronology and qualifications are based mainly on issuer disclosures; independent employment and credential verification was not available in the reviewed public record.

  • The documented name/employer searches are not an exhaustive court, ASIC, sanctions, safety or environmental registry check; no relevant adverse finding surfaced in the searches documented.

  • Company-level outcomes are not attributed personally without a source connecting the executive to the action or result.

Antonio Martín Sánchez

General Manager, Spain

Current

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

Evidence gaps · 3
  • Prior-employer chronology and qualifications are based mainly on issuer disclosures; independent employment and credential verification was not available in the reviewed public record.
  • The documented name/employer searches are not an exhaustive court, ASIC, sanctions, safety or environmental registry check; no relevant adverse finding surfaced in the searches documented.
  • Company-level outcomes are not attributed personally without a source connecting the executive to the action or result.

Full background report

Antonio Martín Sánchez

General Manager, Spain

Career chronology

  • current at cutoff; start date undisclosed: Elementos Limited — General Manager, Spain. Quarterly Activities/Appendix 5B Cash Flow Report (Corporate directory or key management personnel disclosure)

  • before 2026: Atlantic Copper (Freeport-McMoRan) — Senior operations and smelting management. Annual Report to shareholders (2026 annual report: over 20 years across metals/heavy industry; immediately prior role at Atlantic Copper; international smelting operations.)

  • 2026-07-01: Elementos Ltd — General Manager, Spain. Annual Report to shareholders (2026 annual report, management section: commencement 1 July 2026.)

Suitability for the current role

Limited public evidence for role fit

current at cutoff; start date undisclosed · analyst inference · low materiality

The issuer identifies Antonio Martín Sánchez as General Manager, Spain. The cited source establishes the disclosed role and any stated appointment date. This source alone does not establish attributable prior-employer outcomes, verified credentials or independently benchmarked delivery. This is an evidence limitation, not an adverse personal finding.

Attribution: Responsibility not applicable. No personal outcome responsibility is inferred from the title alone.

Relevance: The role is relevant to the company’s current leadership assessment; fuller role-fit comparison requires verified chronology and outcome evidence.

Quarterly Activities/Appendix 5B Cash Flow Report (Corporate directory, key management personnel or appointment disclosure; role and date)

Appointed after the reported Oropesa DFS milestone

from 2026-07-01 · analyst inference · low materiality

Annual Report 2026: appointment began 1 July 2026, after year-end 30 June DFS milestone; no role overlap with completed DFS.

Attribution: Responsibility not applicable. The source establishes the executive’s role during or around the event; individual causation is not inferred unless the cited record directly says so.

Relevance: Adds role-specific career, delivery or governance context; distinguish company-level outcomes from individual responsibility.

Annual Report to shareholders (Annual Report 2026)

Evidence gaps

  • Prior-employer chronology and qualifications are based mainly on issuer disclosures; independent employment and credential verification was not available in the reviewed public record.

  • The documented name/employer searches are not an exhaustive court, ASIC, sanctions, safety or environmental registry check; no relevant adverse finding surfaced in the searches documented.

  • Company-level outcomes are not attributed personally without a source connecting the executive to the action or result.