Lightning Minerals Ltd (ASX:L1M) has strengthened its board with the appointment of experienced corporate lawyer and company director David Vilensky as independent non-executive chairman.
Vilensky brings more than 35 years’ experience in corporate law and listed company leadership, most recently serving as non-executive chairman of Latin Resources Ltd (ASX:LRS, OTC:LRSRF) until its sale to Pilbara Minerals Ltd (ASX:PLS) in a A$560 million transaction earlier this year.
Outgoing chairman Craig Sharpe will remain on the board, resuming his previous role as non-executive director.
Managing director Alex Biggs said the appointment marked a pivotal step for the company.
“On behalf of the Lightning Minerals board of directors I welcome David to the company and look forward to us working together,” Biggs said.
“David brings a fantastic amount of experience and has had significant success during his career, which will add value to the company,” he added. “This appointment demonstrates a strengthening of the board and a signal of intent to our aspirations for the future.”
Extensive experience in corporate law and resources
Vilensky is managing director of Perth law firm Bowen Bucbinder Vilensky and has built a career spanning corporate advisory, mergers and acquisitions, mining and resources, governance, and dispute resolution.
He currently holds a non-executive directorship with Core Energy Minerals Ltd (ASX:CR3) and chairs unlisted ESG Minerals Ltd. His past board roles include serving as non-executive chairman of Zambezi Resources Ltd (ASX:ZRL) and non-executive director of telecommunications company Vonex Ltd (ASX:VN8) (ASX:VN8).
Vilensky’s appointment comes as Lightning completes its inaugural diamond drilling program at the Mt Turner project in Queensland, targeting gold and silver mineralisation. The campaign, which commenced in September, is reported to be progressing on schedule, with results expected in due course.
Read more: Lightning Minerals starts drilling at Mt Turner gold and silver project
Terms of appointment
Vilensky’s remuneration package includes:
- A$60,000 per annum plus superannuation;
- 500,000 unlisted options exercisable at 25 cents, expiring five years from issue (subject to shareholder approval);
- 436,364 performance rights convertible to shares if Lightning trades at or above a 25 cent volume-weighted average price (VWAP) for 20 consecutive trading days within five years (also subject to shareholder approval).
Shareholders will vote on the appointment and terms at the company’s Annual General Meeting on November 27, 2025.
Company overview
Lightning Minerals is an ASX-listed explorer with a portfolio spanning gold, lithium and critical minerals projects. Its Australian assets include the Mt Turner gold-copper project in Queensland, as well as the Dundas, Mt Bartle and Mailman Hill projects in Western Australia.
Internationally, the company holds the Caraíbas, Canabrava and Esperança lithium projects in Brazil’s Minas Gerais state, along with the Dalmas and Hiver lithium projects in Quebec, Canada.