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2026-11-06

← GHM management

Full background report

Martin Bouwmeester

Company Secretary & CFO

Career chronology

Contributions and company outcomes

Golden Horse reported funded exploration and portfolio growth

2025 · issuer reported · medium materiality

Golden Horse’s audited 2025 accounts report A$43.7 million cash at year end versus A$15.0 million in 2024 and a material increase in deferred exploration and evaluation costs. The company also announced a A$15 million placement in June 2025 and acquired the Sorrel copper project in July 2025. These company financing and portfolio outcomes do not establish personal executive contribution or successful mine development.

Attribution: Role overlaps event; causation unproven. The cited filings do not isolate an individual executive’s causal contribution.

Relevance: Provides financial and corporate execution context for senior management.

Full Year Statutory Accounts December 2025 (Statements of financial position and Note 8); Full Year Statutory Accounts December 2025 (Nature of the Sorrel asset acquisition; 2025 annual accounts)

Governance and interests

Reported consulting through CFO-associated entity

2025 financial year; balance at 2025-12-31 · issuer reported · high materiality

Golden Horse’s audited FY2025 accounts disclose that Martin Bouwmeester provided A$277,888 of consulting services through Vestigen Pty Ltd, an entity associated with him, during 2025; A$78,888 remained payable at year end. The accounts say the services were in the normal course and on arm’s-length terms. This is a disclosed related-party arrangement, not a finding of impropriety.

Attribution: Individual involvement documented. The filing directly links the CFO to the related entity and amounts, and records the issuer’s arm’s-length characterization; no independent transaction-price review was found.

Relevance: Relevant to CFO conflict management and related-party controls.

Full Year Statutory Accounts December 2025 (Note 11, Related Party Transactions)

Suitability for the current role

Relevance of current Company Secretary & CFO role

Current at 2026-10-09 · analyst inference · medium materiality

The issuer identifies Martin Bouwmeester as Company Secretary & CFO. This role is relevant to the company's current mining stage and needs; this is an analyst role-fit inference based on the disclosed title and company profile, not evidence of past personal performance. The reviewed sources do not establish a complete prior-employer chronology, independently verified credentials or full concurrent-interest list.

Attribution: Responsibility not applicable. This is a role-fit judgment, not an outcome or misconduct finding.

Relevance: Assesses alignment of disclosed responsibilities with current company needs.

Board and Management (Issuer management page, Martin Bouwmeester entry)

Mining finance and company-secretarial experience

Prior roles; GHM appointment 2023-10-10 · analyst inference · medium materiality

Issuer appointment release identifies Bouwmeester as a Fellow CPA with exploration, mine development and operations experience. Before Golden Horse, he was CFO and Company Secretary of Orion Minerals and held CFO, business development and company-secretarial roles at Perseverance Corporation; the release says he was a key member of the executive team that developed Fosterville Gold Mine. He was appointed to Golden Horse on 10 October 2023. The biography does not specify Fosterville responsibilities or independent credential verification.

Attribution: Employer context; no individual link established. The issuer associates him with Fosterville’s development but does not assign sole responsibility or quantify his contribution.

Relevance: Finance and reporting experience in exploration and mine development aligns with CFO/company-secretarial duties.

Key Appointments Ahead of Proposed Dual-Listing (Appointment announcement, prior roles and credentials)

Evidence gaps

  • Issuer biographies provide abbreviated careers rather than complete dated employment histories; some roles, achievements and credentials remain issuer-reported.

  • The CRA late-filing issue is resolved as to outstanding returns and assessed tax, but penalties/interest remain payable or under follow-up; individual responsibility is not established.

  • Focused web adverse searches did not amount to full regulator, court, credential, safety or environmental database searches across all former employers; no clearance conclusion is implied.