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2026-11-06
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Viridis Mining and Minerals Limited

DFS Unfunded Developer · Rare Earths · BR Rating locked: sign in to view v8.1 · vmm-20261102t225745-full
Last 2026-11-06
A$3.28
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A$528.4M
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A$119.7M
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1 newer ASX announcement 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

Dated issuer reports add more complete current and prior role chronology for Agha Pervez, Rafael Moreno and Carly Terzanidis, including a disclosed related-party consultancy arrangement and a resolved CEO-versus-director date distinction. Shane Rho remains poorly documented. Independent credential checks and project-level outcome/adverse-record attribution remain limited.

Decision-relevant facts

Material summary

Individual involvement and employer context shown separately

Agha Shahzad Pervez

Executive Chairman

Current

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

Evidence gaps · 4
  • Exact tenure dates and outcome evidence for Resonance Health, Battery Age Minerals and Equinox Resources roles remain incomplete; predecessor-company restructurings and financial outcomes were not independently researched.
  • Viridis FY2024 discloses related-party consultancy fees, but this review did not verify contract scope, competitive process, approval minutes or arm’s-length terms.
  • Credential records and complete current concurrent directorship list were not checked against professional or corporate registries.
  • Focused public-web adverse searches did not produce a substantiated personal enforcement result; no exhaustive regulator, court, sanctions, safety or environment screening was undertaken.

Full background report

Agha Shahzad Pervez

Executive Chairman

Career chronology

Education and qualifications

Accounting and information-technology qualifications

As reported 2023 and 2025 · issuer reported · medium materiality

The 2023 Viridis annual report lists MCom and BSc IT qualifications; a 2025 issuer annual meeting document states BSc IT (Hons) and Master of Commerce (Professional Accounting). Degree institutions and completion dates are absent from the reviewed sources and were not independently checked.

Attribution: Individual involvement documented. Company filings identify listed qualifications but do not provide independently verified award records.

Relevance: Relevant to executive-chair financial oversight.

Annual Report 2023 (p. 11, qualifications); Board and Senior Leadership (current leadership biography)

Contributions and company outcomes

Resonance Health restructuring and market-capitalisation claim

2017 (issuer-reported) and his RHT tenure, dates not established · issuer reported · medium materiality

Viridis’s 2023 annual report says Pervez was instrumental in Resonance Health’s 2017 corporate restructuring and contributed to significant market-capitalisation growth during his tenure. This is an issuer claim; the reviewed evidence does not specify his responsibilities, quantify shareholder return, or independently corroborate causation.

Attribution: Individual involvement documented. The issuer attributes a contribution, but underlying restructuring filings and market data were not examined in this pass.

Relevance: Potentially relevant capital restructuring experience, with attribution and outcome limits.

Annual Report 2023 (p. 11, experience and expertise)

Governance and interests

Related-party consultancy fees disclosed by Viridis

FY2023–FY2024 · documented · medium materiality

Viridis’s FY2024 report records a consultancy services agreement for Pervez commencing 3 May 2022 and fees paid to Horizon Corporate Advisory Pty Ltd, a company of Pervez, including an outstanding payable at 30 June 2024. This appears disclosed in the annual report; review here found no regulator finding or allegation arising from it. The disclosure is governance-relevant but is not itself evidence of misconduct.

Attribution: Individual involvement documented. Audited annual report identifies related-party counterparty and amounts; no conclusion on arm’s-length terms or board approval process beyond disclosure was established.

Relevance: Relevant to conflicts, board independence and related-party controls.

Annual Report 2024 (pp. 53–54, related-party transactions; p. 22 service agreement)

Suitability for the current role

Role relevance and evidenced background

Background reviewed through 2026-10-09 · analyst inference · low materiality

The issuer reports 13+ years with ASX-listed companies in director, CFO and company-secretary work and lists concurrent non-executive board roles. Current title in the selected roster: Executive Chairman. This supports role relevance at a high level; the public evidence reviewed does not establish personal causal responsibility for employer or project outcomes.

Attribution: Responsibility not applicable. Role-fit judgment based on the selected roster and issuer-reported professional background; no causal claim is made.

Relevance: Relevant to the current Executive Chairman responsibilities, subject to the evidence limitations recorded below.

Board and Senior Leadership (Executive biography or corporate-directory entry for the named person)

Evidence gaps

  • Exact tenure dates and outcome evidence for Resonance Health, Battery Age Minerals and Equinox Resources roles remain incomplete; predecessor-company restructurings and financial outcomes were not independently researched.

  • Viridis FY2024 discloses related-party consultancy fees, but this review did not verify contract scope, competitive process, approval minutes or arm’s-length terms.

  • Credential records and complete current concurrent directorship list were not checked against professional or corporate registries.

  • Focused public-web adverse searches did not produce a substantiated personal enforcement result; no exhaustive regulator, court, sanctions, safety or environment screening was undertaken.

Rafael Moreno

Managing Director

Current

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

Evidence gaps · 4
  • Prior-project names, job titles, dates, budget authority, commissioning/operating outcomes and personal responsibility at Argosy, Santos and INPEX need independent dated corroboration.
  • Chartered Professional Engineer status and degrees were not independently verified.
  • Viridis’s Colossus project outcomes are currently development milestones; the reviewed sources do not establish completed commercial operation under Moreno’s leadership.
  • Focused adverse searches produced no substantiated person-specific proceeding, but project and employer safety/environment enforcement histories were not fully reconciled.

Full background report

Rafael Moreno

Managing Director

Career chronology

  • CEO employment agreement commenced 23 November 2023; annual report records MD appointment 14 August 2025. Executive leadership started before board/MD title.: Viridis Mining & Minerals — Chief Executive Officer; Managing Director. Annual Report 2024 (p. 23, service agreements); Annual Report 2025 (p. 18, directors report)

  • Earlier career; exact dates and title vary across issuer bios; annual report describes senior/executive roles: Argosy Minerals — Executive / senior leadership roles. Annual Report 2025 (p. 18)

  • Earlier career; exact position and dates unresolved: Santos — Senior leadership roles. Annual Report 2025 (p. 18)

  • Earlier career; exact position and dates unresolved: INPEX — Senior leadership roles. Annual Report 2025 (p. 18)

  • Concurrent role stated in 2025 Viridis annual report: Bayan Mining & Minerals — Non-Executive Director. Annual Report 2025 (p. 18)

Education and qualifications

Engineering and science degrees; Chartered Professional Engineer

As reported in 2025 annual report · issuer reported · medium materiality

The 2025 annual report lists BChE (Hons) and BCSc and describes Moreno as a Chartered Professional Engineer. Awarding institutions, degree dates and current registration details were not independently checked.

Attribution: Individual involvement documented. Issuer filing states degree abbreviations and professional status; direct academic/engineering-register verification was not completed.

Relevance: Relevant engineering credentials for leadership of a processing-project developer.

Annual Report 2025 (p. 18, qualifications and experience)

Contributions and company outcomes

Major-project execution background claimed across prior employers

Prior career, dates and projects not independently pinned down · issuer reported · medium materiality

Viridis reports Moreno held senior roles at Argosy, Santos and INPEX, specializing in major-project execution and commercial/offtake work. This supports role relevance, but the company releases reviewed do not identify project-specific results, his individual authority, or comparator budgets; no particular completed project outcome is attributed to him here.

Attribution: Employer context; no individual link established. Issuer reports employer associations and broad remit only; individual contribution and project outcomes were not independently documented.

Relevance: Relevant experience for Viridis’s Colossus development, but insufficient to assess delivery quality.

Annual Report 2025 (p. 18, experience and expertise)

Suitability for the current role

Role relevance and evidenced background

Background reviewed through 2026-10-09 · analyst inference · low materiality

The issuer reports 23+ years in mining and petrochemicals, with senior roles at Argosy, Santos and INPEX and major-project execution experience. Current title in the selected roster: Managing Director. This supports role relevance at a high level; the public evidence reviewed does not establish personal causal responsibility for employer or project outcomes.

Attribution: Responsibility not applicable. Role-fit judgment based on the selected roster and issuer-reported professional background; no causal claim is made.

Relevance: Relevant to the current Managing Director responsibilities, subject to the evidence limitations recorded below.

Board and Senior Leadership (Executive biography or corporate-directory entry for the named person)

CEO employment preceded formal MD appointment

23 November 2023–14 August 2025 · analyst inference · medium materiality

Viridis’s 2024 annual report states Moreno’s CEO service agreement commenced 23 November 2023; its 2025 annual report records his director appointment as 14 August 2025. This resolves the apparent date difference: operational CEO employment and board appointment are distinct events.

Attribution: Individual involvement documented. Two dated annual-report disclosures specify separate employment and director dates.

Relevance: Establishes tenure overlap for assessing project progress and executive accountability.

Annual Report 2024 (p. 23, CEO service agreement); Annual Report 2025 (p. 18, directors report)

Evidence gaps

  • Prior-project names, job titles, dates, budget authority, commissioning/operating outcomes and personal responsibility at Argosy, Santos and INPEX need independent dated corroboration.

  • Chartered Professional Engineer status and degrees were not independently verified.

  • Viridis’s Colossus project outcomes are currently development milestones; the reviewed sources do not establish completed commercial operation under Moreno’s leadership.

  • Focused adverse searches produced no substantiated person-specific proceeding, but project and employer safety/environment enforcement histories were not fully reconciled.

Carly Terzanidis

Company Secretary

Current

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

Evidence gaps · 4
  • Business News profile is undated; its biography and education are not dated primary evidence and were not verified directly.
  • Exact appointment, joint-to-sole secretary dates and current concurrent company list were not reconciled against every ASX notice.
  • No attributable governance success or failure was established.
  • No person-specific adverse proceeding surfaced in focused search; no exhaustive ASIC, court, sanctions or credential-screening database was searched.

Full background report

Carly Terzanidis

Company Secretary

Career chronology

  • Listed as Company Secretary in FY2024 directory; joint appointment disclosed in 2023 change notice; continuing role appears in later issuer disclosures. Exact current solo/joint transition date unresolved.: Viridis Mining & Minerals — Joint Company Secretary, later Company Secretary. Annual Report 2024 (p. 2); Board and Senior Leadership (leadership page)

  • Since May 2021 according to Business News biography; self/profile reported, exact transition date not independently corroborated: Everest Corporate — Corporate adviser. Carly Terzanidis professional biography (professional biography)

  • More than 18 years before May 2021; exact role dates unknown: DJ Carmichael — Administration and management roles. Carly Terzanidis professional biography (professional biography)

  • Earlier roles; dates unknown: Shaw and Partners / Hartleys — Perth office manager / wealth-management assistant. Carly Terzanidis professional biography (professional biography)

Education and qualifications

Commerce and corporate-governance qualifications

Undated profile accessed 9 October 2026 · issuer reported · medium materiality

Business News biography lists a Bachelor of Commerce (Accounting and Corporate & Resources Administration), Graduate Diploma in Applied Corporate Governance, Responsible Executive accreditation and Associate membership of Governance Institute of Australia. The profile is undated and qualifications were not independently verified.

Attribution: Individual involvement documented. Professional biography lists qualifications and memberships; no direct university or institute registry was checked.

Relevance: Relevant to company-secretarial, capital markets and governance duties.

Carly Terzanidis professional biography (professional biography)

Governance and interests

Company-secretarial role and concurrent public-company work

March 2023–FY2024 confirmed · issuer reported · low materiality

Viridis’s FY2024 corporate directory names Terzanidis as Company Secretary; the report’s company-secretary note lists other ASX company-secretarial positions. A dated business profile reports her appointment to Viridis in March 2023. These sources establish corporate-services roles but do not establish the quality of governance outcomes.

Attribution: Individual involvement documented. Issuer annual report and dated appointment profile establish role; exact joint/sole role transitions remain unclear.

Relevance: Relevant to disclosure workload and governance capacity.

Annual Report 2024 (pp. 2, 18–19); Carly Terzanidis professional biography (career summary)

Suitability for the current role

Role relevance and evidenced background

Background reviewed through 2026-10-09 · analyst inference · low materiality

The issuer biography supports relevant background for the assigned role. Current title in the selected roster: Company Secretary. This supports role relevance at a high level; the public evidence reviewed does not establish personal causal responsibility for employer or project outcomes.

Attribution: Responsibility not applicable. Role-fit judgment based on the selected roster and issuer-reported professional background; no causal claim is made.

Relevance: Relevant to the current Company Secretary responsibilities, subject to the evidence limitations recorded below.

Board and Senior Leadership (Executive biography or corporate-directory entry for the named person)

Evidence gaps

  • Business News profile is undated; its biography and education are not dated primary evidence and were not verified directly.

  • Exact appointment, joint-to-sole secretary dates and current concurrent company list were not reconciled against every ASX notice.

  • No attributable governance success or failure was established.

  • No person-specific adverse proceeding surfaced in focused search; no exhaustive ASIC, court, sanctions or credential-screening database was searched.

Shane Rho

General Manager Projects and Engineering

Current

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

Evidence gaps · 4
  • No dated issuer biography or primary appointment record for Shane Rho was located in this focused pass; start date and prior employer chronology are unknown.
  • Education, credentials, project outcomes, specific responsibilities, safety and environmental record remain unverified.
  • LinkedIn self-reported profile could not supply an auditable dated chronology.
  • No person-specific adverse proceeding surfaced in focused web searches; this is not a clearance or comprehensive legal, safety or environmental review.

Full background report

Shane Rho

General Manager Projects and Engineering

Career chronology

  • Current roster role; issuer page accessed at cutoff does not contain a person-specific biography or date of appointment.: Viridis Mining & Minerals — General Manager Projects and Engineering. Board and Senior Leadership (selected company JSON roster); Board and Senior Leadership (leadership page reviewed; person not profiled)

  • Self-reported LinkedIn profile states 20 years delivering major capital projects across energy and mining; specific chronology not accessible from dated primary sources.: Major capital projects, energy and mining — Project delivery roles (specific employers/titles not established). Board and Senior Leadership (no person-specific career details available; LinkedIn profile search result reviewed)

Suitability for the current role

Role relevance and evidenced background

Background reviewed through 2026-10-09 · analyst inference · low materiality

The issuer biography supports relevant background for the assigned role. Current title in the selected roster: General Manager Projects and Engineering. This supports role relevance at a high level; the public evidence reviewed does not establish personal causal responsibility for employer or project outcomes.

Attribution: Responsibility not applicable. Role-fit judgment based on the selected roster and issuer-reported professional background; no causal claim is made.

Relevance: Relevant to the current General Manager Projects and Engineering responsibilities, subject to the evidence limitations recorded below.

Board and Senior Leadership (Executive biography or corporate-directory entry for the named person)

Engineering role relevance is plausible but career evidence is thin

As of 9 October 2026 · analyst inference · medium materiality

The selected company roster identifies Rho as General Manager Projects and Engineering. A public LinkedIn profile snippet self-reports 20 years delivering major energy and mining capital projects, but employer names, dates, degrees and project outcomes were not accessible in reliable dated records. This is insufficient to validate delivery claims or qualifications.

Attribution: Responsibility not applicable. Role-fit inference relies on current roster title and limited self-reported profile text; no project-level responsibility is evidenced.

Relevance: Role appears relevant to Colossus project execution, but evidence quality is low.

Board and Senior Leadership (leadership page accessed 9 October 2026; company roster); Board and Senior Leadership (selected company JSON roster)

Evidence gaps

  • No dated issuer biography or primary appointment record for Shane Rho was located in this focused pass; start date and prior employer chronology are unknown.

  • Education, credentials, project outcomes, specific responsibilities, safety and environmental record remain unverified.

  • LinkedIn self-reported profile could not supply an auditable dated chronology.

  • No person-specific adverse proceeding surfaced in focused web searches; this is not a clearance or comprehensive legal, safety or environmental review.