Board and Management

Jonathan Downes (B.Sc); has over 30 years’ experience in the mineral and energy sectors and has a track record of project identification, financing and development. He has worked in various geological and corporate capacities throughout his career

Most recently, Jonathan served as the founder and managing director of ASX listed Kaiser Reef Mining (Kaiser), occupying the role from the company’s initial listing on the ASX in February 2020, until 7 October 2025. Kaiser has grown from a junior explorer to a profitable gold producer with a current market capitalisation of nearly $180M

Graeme Purcell (B.Sc Geology) is a geologist, with significant national and international experience spanning 30 years with major resource companies (15 years with Barrick Gold), and junior explorers.

He has broad experience in a diverse range of mineral systems including gold, base metals and strategic minerals in various geological terrains and jurisdictions. Graeme’s experience spans the exploration spectrum from generative through to in-mine resource development. He has a strong understanding of mineral systems and has contributed to mineral discoveries in Australia, Papua New Guinea, Africa and the USA

David brings over 30 years of broad experience across the international construction, open cut, underground mining and mineral processing sectors, with postings in Texas, Kentucky, Alberta and Chile. He has a strong track record in leading the development and execution of growth, consolidation and diversification strategies across competitive markets.

David serves as Group Executive – Australia West at Thiess, a role he assumed in 2023 following MACA’s integration into the Thiess Group in late 2022. Prior to this, he held the position of Chief Executive Officer at MACA Limited, having previously led the Company’s Strategy & Growth function before being appointed Chief Operating Officer in 2020.

David holds a Bachelor of Commerce and has completed post-graduate studies at INSEAD in Singapore and with the Australian Institute of Company Directors and is a Graduate of the Australian Institute of Company Directors (‘GAICD’). He serves on the General Council of the WA Chamber of Commerce and Industry and has been a board member of Murlpirrmarra Connection, a not-for-profit organisation providing education and support services.

Steve Formica is an experienced company director with more than 30 years of commercial, operational and governance experience across ASX-listed and private businesses. He has overseen and expanded enterprises across retail, industrial, manufacturing, construction, logistics, property development, resources (exploration and operations), health and technology bringing a strong practical capability in business development, strategic planning and operational leadership.

He holds several Non-Executive Chairman and Non-Executive Director roles with ASX-listed companies and is an active investor in both public and private enterprises. Steve is recognised for his balanced commercial judgment and strategic insight.