Krakatoa Resources Limited

Career chronology

• CEO from 14 October 2020: Krakatoa Resources Limited — Chief Executive Officer. Annual report FY2026 (FY2026 annual report, PDF pp. 3, 14–16)

• Earlier career; exact dates not fully disclosed: Previous employers and professional roles as summarized in issuer disclosure — more than 25 years resources experience; prior junior/mid-tier resource company executive and senior management roles. Appointment of Mark Major as Chief Executive Officer (pp. 1–2)

• Managing director confirmed in 2012 and listed in historical company directory; precise full tenure unresolved: Hodges Resources Ltd. — Managing Director. Hodges Resources half-year financial report (PDF p. 3, director roster); Hodges Resources announcements and directors (Directors table)

Education and qualifications

Education and professional credentials

Not dated · issuer reported · low materiality

qualified geologist; MBA. Credentials are reported in the cited issuer or secondary biography; the issuing institutions were not independently queried in this pass.

Attribution: Individual involvement documented. The cited biography names the qualification; independent verification of award records was not available.

Relevance: Relevant professional preparation for the current position.

Appointment of Mark Major as Chief Executive Officer (pp. 1–2)

Contributions and company outcomes

Company-level project and delivery record

Most recent report through cutoff · issuer reported · low materiality

The FY2026 annual report describes exploration at Zopkhito; the historical foreign estimate is not represented as a JORC-compliant Mineral Resource. Drilling and resource conversion remain exploration work, not delivered mine production.

Attribution: Role overlaps event; causation unproven. The individual held the stated role during some or all of the reported period; available evidence does not isolate personal contribution.

Relevance: Provides the company outcome against which the executive’s delivery record should be assessed.

Annual report FY2026 (PDF pp. 5–13, review of operations)

Business failures and setbacks

Hodges ASX suspension and removal during executive tenure

2015–2016 · documented · high materiality

The ASX announcement history reproduced by deListed says Hodges was suspended in March 2015 after failing to lodge its December 2014 half-year accounts and was removed from the official list in August 2016 after listing fees were unpaid. An independent director listing identifies Major as managing director and a Hodges report named him managing director in 2012. The original suspension and removal notices were not independently obtained; the available record does not establish his individual responsibility.

Attribution: Role overlaps event; causation unproven. Company-level governance and financial outcomes during reported managing-director tenure; neither source establishes personal misconduct or why the fees were not paid.

Relevance: A relevant prior employer governance and execution outcome.

Hodges Resources half-year financial report (PDF p. 3, director roster); Hodges Resources ASX and corporate history (ASX history: 17 March 2015, 23–29 August 2016); Hodges Resources announcements and directors (ASX announcements and directors list)

FY2026 loss and financing dependence

Year ended 30 June 2026 and September 2026 · documented · medium materiality

Krakatoa reported a FY2026 net loss of A$5.784 million versus A$2.522 million in FY2025 and A$739,459 cash at 30 June. The directors’ going-concern assessment depended principally on further equity funding; the audit identified going concern as a key audit matter. The annual report also says A$4 million was raised after year-end. Independent reporting on the September quarter states cash was A$2.03 million after those placements.

Attribution: Role overlaps event; causation unproven. Company-level financial outcome during management tenure; additional capital raised after 30 June is not part of the June cash balance and individual causation is not established.

Relevance: Shows the funding and capital-allocation demands during the team’s tenure.

Annual report FY2026 (PDF pp. 4, 39, 63); September quarterly results and funding position (Cash Position and Runway)

Environmental record

EL8153 Sugarloaf regulator audit: diesel spill observation and response

2020–2022 activity; audit published 2022 · documented · low materiality

The NSW Resources Regulator’s compliance audit covering Krakatoa’s EL8153 exploration activity from 2020–2022 found no non-compliances. It did record a small diesel spill at drill site SDD002 as an observation of concern: the drilling contractor had not reported it and the exploration manager was initially unaware. The site manager cleaned it during the audit; the manager later followed up with the driller to reinforce reporting. The audit said the spill was unlikely to cause material environmental harm and was not reportable or a reportable offence. The report does not identify Major or Locke as personally involved. Their company leadership tenure overlapped the period, which is an oversight context only.

Attribution: Role overlaps event; causation unproven. Company-level exploration management oversight; the regulator did not identify either executive as responsible for the spill or as having breached a requirement. Corrective response is documented.

Relevance: Exploration-stage environmental reporting controls relevant to the CEO and executive-chair roles.

EL8153 Sugarloaf compliance audit (NSW Resources Regulator compliance audit, findings and observation-of-concern sections; SDD002 diesel spill, immediate clean-up, contractor follow-up, no non-compliances)

Suitability for the current role

Professional fit for Chief Executive Officer

Current role as of cutoff · analyst inference · medium materiality

Role fit is an analytical inference from the documented position and the listed experience. The current role aligns with the function stated in the title; demonstrated personal outcomes are not inferred from employer results.

Attribution: Responsibility not applicable. Analyst assessment based on the cited role and career record; it does not establish performance causation.

Relevance: Assesses documented capability against the current role and company stage.

Annual report FY2026 (FY2026 annual report, PDF pages 3–4, 13–16); Appointment of Mark Major as Chief Executive Officer (pp. 1–2)

Evidence gaps

• Independent credential/degree confirmation and exact dates for Hodges Resources and Aquiline roles were not located in this search.

• Original ASX suspension/removal notices and Major’s role in the filing and fee decisions were not independently obtained.

• The prior Aquiline position cited in the historic report was not independently established from an accessible source and has been omitted.

• The 30 October 2026 September-quarter ASX filing was not independently retrieved; September cash figures are attributed to a secondary report.

Career chronology

• Executive chairman from 6 August 2015: Krakatoa Resources Limited — Executive Chairman. Annual report FY2026 (FY2026 annual report, PDF pp. 3, 14–16)

• Earlier career; exact dates not fully disclosed: Previous employers and professional roles as summarized in issuer disclosure — executive chairman since 6 August 2015; annual report and issuer material describe long mining, business management, financial services and international exploration experience. Annual report FY2026 (FY2026 annual report, PDF pp. 3, 14–16)

• Since March 2021 (per profile at cutoff): Rubix Resources Ltd. — Non-Executive Director. Colin Locke – Director profile (Director profile; current role table)

Contributions and company outcomes

Company-level project and delivery record

Most recent report through cutoff · issuer reported · low materiality

The FY2026 annual report describes exploration at Zopkhito; the historical foreign estimate is not represented as a JORC-compliant Mineral Resource. Drilling and resource conversion remain exploration work, not delivered mine production.

Attribution: Role overlaps event; causation unproven. The individual held the stated role during some or all of the reported period; available evidence does not isolate personal contribution.

Relevance: Provides the company outcome against which the executive’s delivery record should be assessed.

Annual report FY2026 (PDF pp. 5–13, review of operations)

Business failures and setbacks

FY2026 loss and financing dependence

Year ended 30 June 2026 and September 2026 · documented · medium materiality

Krakatoa reported a FY2026 net loss of A$5.784 million versus A$2.522 million in FY2025 and A$739,459 cash at 30 June. The directors’ going-concern assessment depended principally on further equity funding; the audit identified going concern as a key audit matter. The annual report also says A$4 million was raised after year-end. Independent reporting on the September quarter states cash was A$2.03 million after those placements.

Attribution: Role overlaps event; causation unproven. Company-level financial outcome during management tenure; additional capital raised after 30 June is not part of the June cash balance and individual causation is not established.

Relevance: Shows the funding and capital-allocation demands during the team’s tenure.

Annual report FY2026 (PDF pp. 4, 39, 63); September quarterly results and funding position (Cash Position and Runway)

Environmental record

EL8153 Sugarloaf regulator audit: diesel spill observation and response

2020–2022 activity; audit published 2022 · documented · low materiality

The NSW Resources Regulator’s compliance audit covering Krakatoa’s EL8153 exploration activity from 2020–2022 found no non-compliances. It did record a small diesel spill at drill site SDD002 as an observation of concern: the drilling contractor had not reported it and the exploration manager was initially unaware. The site manager cleaned it during the audit; the manager later followed up with the driller to reinforce reporting. The audit said the spill was unlikely to cause material environmental harm and was not reportable or a reportable offence. The report does not identify Major or Locke as personally involved. Their company leadership tenure overlapped the period, which is an oversight context only.

Attribution: Role overlaps event; causation unproven. Company-level exploration management oversight; the regulator did not identify either executive as responsible for the spill or as having breached a requirement. Corrective response is documented.

Relevance: Exploration-stage environmental reporting controls relevant to the CEO and executive-chair roles.

EL8153 Sugarloaf compliance audit (NSW Resources Regulator compliance audit, findings and observation-of-concern sections; SDD002 diesel spill, immediate clean-up, contractor follow-up, no non-compliances)

Suitability for the current role

Professional fit for Executive Chairman

Current role as of cutoff · analyst inference · medium materiality

Role fit is an analytical inference from the documented position and the listed experience. The current role aligns with company leadership and project finance; demonstrated personal outcomes are not inferred from employer results.

Attribution: Responsibility not applicable. Analyst assessment based on the cited role and career record; it does not establish performance causation.

Relevance: Assesses documented capability against the current role and company stage.

Annual report FY2026 (FY2026 annual report, PDF pages 3–4, 13–16); Annual report FY2026 (FY2026 annual report, PDF pages 3–4, 13–16)

Career chronology

• Current as of 2026-09-27; exact start date not supplied: Krakatoa Resources Limited — Non-executive Director / Company Secretary. Annual report FY2026 (FY2026 annual report, PDF pp. 3, 14–16)

• Earlier career; exact dates not fully disclosed: Previous employers and professional roles as summarized in issuer disclosure — chartered accountant and listed-company corporate advisory/finance background; other company board interests are disclosed in annual report. Annual report FY2026 (FY2026 annual report, PDF pp. 3, 14–16)

Education and qualifications

Education and professional credentials

Not dated · issuer reported · low materiality

Chartered Accountant. Credentials are reported in the cited issuer or secondary biography; the issuing institutions were not independently queried in this pass.

Attribution: Individual involvement documented. The cited biography names the qualification; independent verification of award records was not available.

Relevance: Relevant professional preparation for the current position.

Annual report FY2026 (FY2026 annual report, PDF pages 3–4, 13–16)

Personal achievements

Role in identifying early exploration projects

October 2020 · issuer reported · medium materiality

In its October 2020 announcement Krakatoa’s board proposed a bonus share issue for Palumbo for identifying the Rand, Turon and Mt Clere projects for direct application. The announcement is evidence of the board’s stated reason for the proposed award; it does not establish project profitability or prove that the proposed award was later issued.

Attribution: Individual involvement documented. The board’s statement connects Palumbo to identifying the projects; subsequent outcomes and award issuance were not independently established.

Relevance: Provides a specific issuer-reported contribution beyond company-secretarial duties.

Appointment of Mark Major as Chief Executive Officer (p. 2, proposed director bonus)

Contributions and company outcomes

Company-level project and delivery record

Most recent report through cutoff · issuer reported · low materiality

The FY2026 annual report describes exploration at Zopkhito; the historical foreign estimate is not represented as a JORC-compliant Mineral Resource. Drilling and resource conversion remain exploration work, not delivered mine production.

Attribution: Role overlaps event; causation unproven. The individual held the stated role during some or all of the reported period; available evidence does not isolate personal contribution.

Relevance: Provides the company outcome against which the executive’s delivery record should be assessed.

Annual report FY2026 (PDF pp. 5–13, review of operations)

Business failures and setbacks

FY2026 loss and financing dependence

Year ended 30 June 2026 and September 2026 · documented · medium materiality

Krakatoa reported a FY2026 net loss of A$5.784 million versus A$2.522 million in FY2025 and A$739,459 cash at 30 June. The directors’ going-concern assessment depended principally on further equity funding; the audit identified going concern as a key audit matter. The annual report also says A$4 million was raised after year-end. Independent reporting on the September quarter states cash was A$2.03 million after those placements.

Attribution: Role overlaps event; causation unproven. Company-level financial outcome during management tenure; additional capital raised after 30 June is not part of the June cash balance and individual causation is not established.

Relevance: Shows the funding and capital-allocation demands during the team’s tenure.

Annual report FY2026 (PDF pp. 4, 39, 63); September quarterly results and funding position (Cash Position and Runway)

Suitability for the current role

Professional fit for Non-executive Director / Company Secretary

Current role as of cutoff · analyst inference · medium materiality

Role fit is an analytical inference from the documented position and the listed experience. The current role aligns with the function stated in the title; demonstrated personal outcomes are not inferred from employer results.

Attribution: Responsibility not applicable. Analyst assessment based on the cited role and career record; it does not establish performance causation.

Relevance: Assesses documented capability against the current role and company stage.

Annual report FY2026 (FY2026 annual report, PDF pages 3–4, 13–16); Annual report FY2026 (FY2026 annual report, PDF pages 3–4, 13–16)

Career chronology

• Appointed 18 February 2026; listed by issuer on 14 October 2026; continued role after that date not independently confirmed: Krakatoa Resources Limited — Country Operations Manager. Krakatoa strengthens Zopkhito team (p. 1); Company presentation – 121 Mining Investment Global Online (PDF p. 17)

• Earlier career; employers and dates are not detailed in appointment filing: Earlier international resources companies — Executive and project operations roles in Eastern Europe and Central Asia. Krakatoa strengthens Zopkhito team (p. 1)

Contributions and company outcomes

Company-level project and delivery record

Most recent report through cutoff · issuer reported · low materiality

The FY2026 annual report describes exploration at Zopkhito; the historical foreign estimate is not represented as a JORC-compliant Mineral Resource. Drilling and resource conversion remain exploration work, not delivered mine production.

Attribution: Employer context; no individual link established. The individual held the stated role during some or all of the reported period; available evidence does not isolate personal contribution.

Relevance: Provides the company outcome against which the executive’s delivery record should be assessed.

Annual report FY2026 (PDF pp. 5–13, review of operations)

Suitability for the current role

Professional fit for Country Operations Manager

Current role as of cutoff · analyst inference · medium materiality

Role fit is an analytical inference from the documented position; limited public career detail reduces confidence. The current role aligns with the function stated in the title; demonstrated personal outcomes are not inferred from employer results.

Attribution: Responsibility not applicable. Analyst assessment based on the cited role and career record; it does not establish performance causation.

Relevance: Assesses documented capability against the current role and company stage.

Krakatoa strengthens Zopkhito team (p. 1)

Evidence gaps

• Public sources reviewed did not establish a full dated prior-employer chronology, quantified personal delivery record, and independently verified credentials.

• The issuer’s 14 October 2026 presentation listed the role; continuity after that date is unconfirmed; prior employers, project dates and independent qualifications remain incompletely verified.

Career chronology

• Appointed 18 February 2026; listed by issuer on 14 October 2026; continued role after that date not independently confirmed: Krakatoa Resources Limited — Technical Consultant. Krakatoa strengthens Zopkhito team (p. 1); Company presentation – 121 Mining Investment Global Online (PDF p. 17)

• COO in October 2023; departed 25 April 2025: Cornish Metals Inc. — Chief Operating Officer. South Crofty water treatment plant commissioning (pp. 1–2); Cornish Metals announces management change (management change announcement)

Contributions and company outcomes

South Crofty water treatment plant commissioned

October 2023 · issuer reported · medium materiality

Cornish Metals reported commissioning and opening its South Crofty mine water treatment plant in October 2023. Its announcement identifies Mihalop as COO and the technical data’s qualified person. The mine was still being dewatered toward a future investment decision; this is not an assertion of restored tin production.

Attribution: Role overlaps event; causation unproven. Mihalop was COO during the commissioning and compiled technical information; the issuer credits a broader project team and contractors for delivery.

Relevance: Relevant mine-redevelopment and operational experience for the consultant role.

South Crofty water treatment plant commissioning (pp. 1–2, commissioning and qualified-person statement)

Governance and interests

Krakatoa’s South Crofty profitability description conflicts with former issuer reporting

2025–2026 · documented · high materiality

Krakatoa’s 14 October 2026 presentation describes Mihalop as having taken South Crofty into profitable operations. Cornish Metals’ FY2025 results, issued in April 2026, instead describe South Crofty as a development project working toward construction, financing, a final investment decision and future production. The differing descriptions are not reconciled; the source does not show that Mihalop authored Krakatoa’s statement.

Attribution: Employer context; no individual link established. This compares company statements; it does not establish personal responsibility for the Krakatoa presentation or allege misconduct.

Relevance: The distinction matters in evaluating the claimed delivery record of the technical adviser.

Company presentation – 121 Mining Investment Global Online (PDF p. 17, management biography); Final results for year ended 31 December 2025 (Company highlights; outlook for 2026)

Suitability for the current role

Underground mine-development experience

2023–2026 · analyst inference · medium materiality

Issuer biographies describe underground mining and South Crofty project-development work; that experience appears relevant to evaluating Zopkhito’s historic underground workings. His specific current mandate and continued engagement remain unverified.

Attribution: Responsibility not applicable. Analytical inference from documented roles; project outcomes are not attributed solely to the consultant.

Relevance: Assesses role fit with explicit mandate and continuation limits.

Krakatoa strengthens Zopkhito team (p. 1); Cornish Metals announces management change (management change)

Evidence gaps

• The issuer listed him on 14 October 2026; the precise consultant mandate and continuity after that date are not independently confirmed.

• Prior-employer chronology, independent qualifications, and original safety/environment investigation records remain incomplete.

• The basis for Krakatoa’s characterization of South Crofty as profitable operations is not explained in the reviewed material.