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2026-11-06
◂ Monitor TBR ASX

Tribune Resources Limited

Producer · Gold · AU · GH · PH Rating locked: sign in to view v8.1 · tbr-20261106t165007-full
Last 2026-11-06
A$5.16
1D
—
1M
—
YTD
—
1Y
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Fair value
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Upside
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Mkt cap
A$270.7M
EV
A$262.9M
Cash
A$11.8M
Debt
A$0

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

This initial public-source management review covers the selected company.json roster plus issuer-confirmed current management additions. Career histories are unevenly documented, and role-specific achievements are often issuer-reported rather than independently attributable.

Decision-relevant facts

Material summary

Individual involvement and employer context shown separately

Anthony Billis

Managing Director / Chief Executive Officer

Current
Full background report for Anthony Billis
GovernanceDocumented · High materiality

Takeovers Panel found unacceptable circumstances in Tribune disclosure

The Takeovers Panel declared unacceptable circumstances after concluding the market had been materially uninformed about persons with substantial interests and control of Tribune. It considered Billis and another person associated under the Act and described numerous substantial-holder contraventions as occurring if submissions by the relevant parties were accurate. The later reconsideration reasons maintained the declaration and described reported tracing responses as incorrect. This was a civil takeover-regulation matter, not a finding of fraud; the conditional qualification on contraventions is retained. The public material reviewed did not establish any later appellate reversal.

Individual involvement documented · The Panel expressly named Billis and found association/control relationships; its stated contraventions were conditional on the parties’ submissions being accurate. This supports a governance and disclosure oversight finding, not a fraud or criminal-misconduct finding.

Tribune Resources Ltd [2018] ATP 18 · paras 20–24; Annexure B paras 20–24, especially 52 and 56
Tribune Resources Ltd 02R [2018] ATP 22 · paras 12–15, 20–21
Tribune Resources Limited – Orders (TP18/073) · Orders, TP18/073, 29 Oct 2018; corrective disclosure/divestment requirements
Form 603 initial substantial holder notice – Anthony Billis · 19 Dec 2018 Form 603; ceased control from 26 Nov 2018
Evidence gaps · 1
  • Open-web searches do not constitute an exhaustive criminal, sanctions, litigation, regulator, safety or credential check; sources outside the documented search scope may exist.

Full background report

Anthony Billis

Managing Director / Chief Executive Officer

Career chronology

  • Current role; start date not established in reviewed sources: Tribune Resources Limited — Managing Director / Chief Executive Officer. Tribune Resources Limited Annual Report 2026 (Tribune Annual Report 2026, corporate directory p.2 and directors’ report p.3)

  • Prior career; detailed dates not stated: Prior employers/qualifications listed by issuer — Managing Director and CEO; 2026 annual report confirms office through 30 September 2026. Historical Takeovers Panel matter is recorded separately below.. Tribune Resources Limited Annual Report 2026 (Tribune Annual Report 2026, corporate directory p.2 and directors’ report p.3)

  • MD/CEO since circa 2003 (secondary profile); >30 years gold exploration/Kundana involvement per FY25 annual report: Tribune Resources Limited — Managing Director / CEO; gold exploration and Kundana project development. Annual Report for year ended 30 June 2025 (Directors report, p.19; 2026 corporate directory and directors report.); Tribune Resources Limited Annual Report 2026 (Directors report, p.19; 2026 corporate directory and directors report.)

  • Current directorship per FY25 annual report; dates not stated: Rand Mining Limited — Executive Director. Annual Report for year ended 30 June 2025 (Directors report, p.19.)

Governance and interests

Takeovers Panel found unacceptable circumstances in Tribune disclosure

2009–2018; Panel reasons and reconsideration in September 2018 · documented · high materiality

The Takeovers Panel declared unacceptable circumstances after concluding the market had been materially uninformed about persons with substantial interests and control of Tribune. It considered Billis and another person associated under the Act and described numerous substantial-holder contraventions as occurring if submissions by the relevant parties were accurate. The later reconsideration reasons maintained the declaration and described reported tracing responses as incorrect. This was a civil takeover-regulation matter, not a finding of fraud; the conditional qualification on contraventions is retained. The public material reviewed did not establish any later appellate reversal.

Attribution: Individual involvement documented. The Panel expressly named Billis and found association/control relationships; its stated contraventions were conditional on the parties’ submissions being accurate. This supports a governance and disclosure oversight finding, not a fraud or criminal-misconduct finding.

Relevance: Material to disclosure, control and related-party governance oversight as the current Managing Director; historical context does not itself establish repeat conduct.

Tribune Resources Ltd [2018] ATP 18 (paras 20–24; Annexure B paras 20–24, especially 52 and 56); Tribune Resources Ltd 02R [2018] ATP 22 (paras 12–15, 20–21); Tribune Resources Limited – Orders (TP18/073) (Orders, TP18/073, 29 Oct 2018; corrective disclosure/divestment requirements); Form 603 initial substantial holder notice – Anthony Billis (19 Dec 2018 Form 603; ceased control from 26 Nov 2018)

Suitability for the current role

Public evidence of fit for Managing Director / Chief Executive Officer

Current role and prior career as stated by issuer · analyst inference · low materiality

The dated annual report supports the office held. Public evidence reviewed does not establish role-specific achievements or a full career chronology, so role-fit assessment is limited.

Attribution: Responsibility not applicable. This is an analyst role-fit judgment based on the cited role and issuer-reported experience; it does not assign personal responsibility for company outcomes.

Relevance: Relevant to the current Managing Director / Chief Executive Officer role, with evidence quality constrained by the source scope.

Tribune Resources Limited Annual Report 2026 (Tribune Annual Report 2026, corporate directory p.2 and directors’ report p.3)

Evidence gaps

  • Open-web searches do not constitute an exhaustive criminal, sanctions, litigation, regulator, safety or credential check; sources outside the documented search scope may exist.

Lyndall Vaughan

Finance Manager

Current
Full background report for Lyndall Vaughan

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

Evidence gaps · 1
  • Open-web searches do not constitute an exhaustive criminal, sanctions, litigation, regulator, safety or credential check; sources outside the documented search scope may exist.

Full background report

Lyndall Vaughan

Finance Manager

Career chronology

  • Current role; start date not established in reviewed sources: Tribune Resources Limited — Finance Manager. Tribune Resources Limited Annual Report 2026 (Tribune Annual Report 2026, corporate directory p.2; corporate governance page, Lyndall Vaughan biography)

  • Over 21 years at both companies as at FY2025 report; exact start dates not specified: Tribune Resources Limited; Rand Mining Limited — Finance Manager. Annual Report for year ended 30 June 2025 (Directors report, p.19.)

  • Qualification stated by issuer; graduation date not stated: Edith Cowan University — Business studies, major in Accounting. Annual Report for year ended 30 June 2025 (Directors report, p.19; LinkedIn identifies ECU.)

Suitability for the current role

Public evidence of fit for Finance Manager

Current role and prior career as stated by issuer · analyst inference · low materiality

The dated annual report supports the office held. Public evidence reviewed does not establish role-specific achievements or a full career chronology, so role-fit assessment is limited.

Attribution: Responsibility not applicable. This is an analyst role-fit judgment based on the cited role and issuer-reported experience; it does not assign personal responsibility for company outcomes.

Relevance: Relevant to the current Finance Manager role, with evidence quality constrained by the source scope.

Tribune Resources Limited Annual Report 2026 (Tribune Annual Report 2026, corporate directory p.2; corporate governance page, Lyndall Vaughan biography)

Evidence gaps

  • Open-web searches do not constitute an exhaustive criminal, sanctions, litigation, regulator, safety or credential check; sources outside the documented search scope may exist.

Otakar Demis

Joint Company Secretary

Current
Full background report for Otakar Demis
GovernanceDocumented · Medium materiality

Board overlap featured in Takeovers Panel control findings

The Takeovers Panel record states that the board of Rand Mining was identical to Tribune’s board and discussed cross-shareholdings and substantial-holder disclosure. Demis was then a director of both boards. The record establishes role overlap and governance context, but does not by itself establish personal causation or that he committed a contravention.

Role overlaps event; causation unproven · The source establishes overlapping board positions; it does not establish that Demis personally caused or knew of disclosure deficiencies.

Tribune Resources Ltd 02R [2018] ATP 22 · paras 12–15 and 20–21
Evidence gaps · 1
  • Open-web searches do not constitute an exhaustive criminal, sanctions, litigation, regulator, safety or credential check; sources outside the documented search scope may exist.

Full background report

Otakar Demis

Joint Company Secretary

Career chronology

  • Current role; start date not established in reviewed sources: Tribune Resources Limited — Joint Company Secretary. Tribune Resources Limited Annual Report 2026 (Tribune Annual Report 2026, corporate directory p.2; corporate governance page, Otakar Demis biography)

  • Over 30 years as a director; current roles in 2025/2026 reports: Tribune Resources Limited — Director, Non-Executive Chairman and Company Secretary. Annual Report for year ended 30 June 2025 (FY2025 directors report, p.19; FY2026 corporate directory/directors report.); Tribune Resources Limited Annual Report 2026 (FY2025 directors report, p.19; FY2026 corporate directory/directors report.)

  • Current per FY2025 annual report; start date not specified: Rand Mining Limited — Non-Executive Chairman and Joint Company Secretary. Annual Report for year ended 30 June 2025 (Directors report, p.19.)

Governance and interests

Board overlap featured in Takeovers Panel control findings

2018; underlying shareholding relationships described from 2010 onward · documented · medium materiality

The Takeovers Panel record states that the board of Rand Mining was identical to Tribune’s board and discussed cross-shareholdings and substantial-holder disclosure. Demis was then a director of both boards. The record establishes role overlap and governance context, but does not by itself establish personal causation or that he committed a contravention.

Attribution: Role overlaps event; causation unproven. The source establishes overlapping board positions; it does not establish that Demis personally caused or knew of disclosure deficiencies.

Relevance: Relevant to current company-secretary and chair oversight of complex control and disclosure matters; historic issue only.

Tribune Resources Ltd 02R [2018] ATP 22 (paras 12–15 and 20–21)

Suitability for the current role

Public evidence of fit for Joint Company Secretary

Current role and prior career as stated by issuer · analyst inference · low materiality

The dated annual report supports the office held. Public evidence reviewed does not establish role-specific achievements or a full career chronology, so role-fit assessment is limited.

Attribution: Responsibility not applicable. This is an analyst role-fit judgment based on the cited role and issuer-reported experience; it does not assign personal responsibility for company outcomes.

Relevance: Relevant to the current Joint Company Secretary role, with evidence quality constrained by the source scope.

Tribune Resources Limited Annual Report 2026 (Tribune Annual Report 2026, corporate directory p.2; corporate governance page, Otakar Demis biography)

Evidence gaps

  • Open-web searches do not constitute an exhaustive criminal, sanctions, litigation, regulator, safety or credential check; sources outside the documented search scope may exist.

Maddison Cramer

Joint Company Secretary

Current
Full background report for Maddison Cramer

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

Evidence gaps · 2
  • The reviewed issuer material confirms the current title but does not provide a dated full career history or independently verifiable qualifications; prior roles and credentials therefore remain unverified.
  • Open-web searches do not constitute an exhaustive criminal, sanctions, litigation, regulator, safety or credential check; sources outside the documented search scope may exist.

Full background report

Maddison Cramer

Joint Company Secretary

Career chronology

  • Since 2025-12-08: Tribune Resources Limited — Joint Company Secretary. Tribune Resources Limited Annual Report 2026 (Tribune Annual Report 2026, corporate directory p.2; ASX appointment notice 8 December 2025)

  • Current per employer profile; date not specified: Belltree Corporate — Co-founder and Managing Director. Team (Team page, profile.)

  • Prior, dates not stated: Bellevue Gold; Bellanhouse Legal; HWL Ebsworth Lawyers — Company Secretary; prior associate roles. Team (Team page, profile.)

Suitability for the current role

Public evidence of fit for Joint Company Secretary

Current role and prior career as stated by issuer · analyst inference · low materiality

The dated annual report supports the office held. Public evidence reviewed does not establish role-specific achievements or a full career chronology, so role-fit assessment is limited.

Attribution: Responsibility not applicable. This is an analyst role-fit judgment based on the cited role and issuer-reported experience; it does not assign personal responsibility for company outcomes.

Relevance: Relevant to the current Joint Company Secretary role, with evidence quality constrained by the source scope.

Tribune Resources Limited Annual Report 2026 (Tribune Annual Report 2026, corporate directory p.2; ASX appointment notice 8 December 2025)

Evidence gaps

  • The reviewed issuer material confirms the current title but does not provide a dated full career history or independently verifiable qualifications; prior roles and credentials therefore remain unverified.

  • Open-web searches do not constitute an exhaustive criminal, sanctions, litigation, regulator, safety or credential check; sources outside the documented search scope may exist.