New MD and board changes at DevEx

Uranium-focused DevEx Resources has begun a new management chapter, with Todd Ross commencing his tenure as managing director.

In line with DevEx chair Tim Goyder’s commentary during the 2024 annual report, three board members – Stacey Apostolou, Bryn Jones and Richard Hacker – have all departed from the company’s board, effective today.

“We are very pleased to have Todd on board as managing director as DevEx embarks on a new chapter in its history,” Mr Goyder said on Monday.

“I have had the opportunity to spend a significant amount of time with Todd in recent weeks, and I look forward to working closely with him as we leverage DevEx’s strong balance sheet and quality asset base to target exciting new growth opportunities and take the company to the next level.”

Mr Ross, who has an extensive corporate finance and investment banking background, will take over from Brendan Bradley, who will now be the company’s technical director.

Despite vacating her executive board role, Ms Apostolou will remain as the company’s corporate general manager.

Within the 2024 annual report, Mr Goyder outlined the junior’s reason for streamlining its board and management structure.

“(Despite advances) the latter part of the year proved to be a challenging market for junior resource companies,” he said.

“Therefore, subsequent to the year end, the company has acted swiftly to protect our strong standing and reduce corporate overheads – including changes to streamline the company’s board and management structure.

“I believe our newly-shaped executive team is well equipped with the skillset and capability to advance and grow our portfolio as we move forward.”

DevEx, which has a market cap of $70.6 million, has several uranium interests in the Northern Territory.

As of 1.21pm WST, DevEx shares were up 6 per cent to 17 cents.