NewsStocksTartana Minerals launches operational review following board shake-up

Tartana Minerals launches operational review following board shake-up

Author: The Market Online Australia·

Key Takeaways

  • Shareholders approved the removal of directors Stephen Bartrop and Mat Hancock at an extraordinary general meeting, while a resolution to remove Alistair Lewis was withdrawn after his resignation.
  • The new board under Executive Chairman Sonny Didugu has begun a wide-ranging review of operations, financial position, governance and the tenement portfolio.
  • Land access arrangements have been secured at the Nightflower silver project, paving the way for its first drilling since 2008, while current drilling at the Tartana Mining Leases targets copper.
  • A plan announced in February 2026 by previous management to drill at least 10,000 metres targeting silver and gold has not been executed, with only 1,500 metres of resource extension drilling completed at Tartana Copper.
  • TAT shares were steady at 1.8 cents, giving the company a market capitalisation of $7.822 million.
Tartana Minerals launches operational review following board shake-up

Tartana Minerals (ASX: TAT) is ramping up a range of activities following an extraordinary general meeting in mid-August that effected a change in board leadership.

The board has commenced a wide-ranging corporate and strategic review covering operations, the company's financial position, corporate governance and its tenement portfolio.

Executive Chairman Sonny Didugu said the review is identifying how to best unlock the value of the company's expansive portfolio of base and precious metals projects in a responsible and sustainable manner.

"Shareholders gave us a decisive mandate for change at the extraordinary general meeting. In the days since, we have immediately commenced a wide-ranging review of the company's operations, assets and forward plan," Mr Didugu said.

"Tartana holds an expansive and genuinely prospective portfolio of base and precious metals projects with one of the largest tenement positions in the Chillagoe and Herberton regions but has not scratched the surface of what this portfolio holds.

The Chillagoe and Herberton regions, both located in Far North Queensland, are historic mining districts: Chillagoe was a significant copper, silver and lead producing area in the early twentieth century, while Herberton was the centre of Australia's earliest major tin mining fields.

"We have immediately commenced both an on-ground field reconnaissance program and a desktop geological review to confirm priority tenements. We aim to deliver a focused, funded, and achievable exploration plan to shareholders.

"Securing land access arrangements at Nightflower – our most prospective silver project – and immediately commencing road access works, is an important milestone towards the first drilling on this project since 2008."

The company is currently drilling at its Tartana Mining Leases, targeting copper, and intends to shift soon to Nightflower, targeting silver.

At the EGM, resolutions to remove Stephen Bartrop and Mat Hancock as directors were carried, while a resolution to remove Alistair Lewis as a director was withdrawn following his earlier resignation. Boardroom challenges of this kind at ASX-listed explorers typically follow shareholder discontent with strategy or progress, and often precede a reset of exploration priorities and spending.

In February 2026, the company, under previous management, set out its intention to drill at least 10,000 metres in 2026 across targets predominantly targeting silver and gold. Mr Didugu said no such drilling has occurred at these prospects. To date, 1,500 metres of resource extension drilling have been completed at Tartana Copper.

The board is currently conducting a comprehensive desktop geological review of all historical exploration data across the entire portfolio, supported by field reconnaissance on priority tenements, in order to ensure informed decision-making for future exploration priorities. The board is also reviewing the drilling program to develop a realistic, well-funded and properly sequenced exploration strategy. Key milestones for shareholders to watch include the outcomes of the desktop review, the confirmation of priority tenements, and the timing of the first Nightflower drilling since 2008.

TAT was steady at 1.8¢, with a market capitalisation of $7.822 million.