Atomic Eagle Ltd (ASX:AEU, FRA:6QZ0) has strengthened its board with a series of leadership changes aimed at supporting its growth strategy, appointing uranium industry veteran Grant Davey as non-executive chairman and adding Zambian business leader Muna Hantuba as a non-executive director.
Davey brings more than 30 years of experience across global mining and energy projects, including development, construction and operations. His appointment signals a clear tilt towards uranium sector expertise, having founded ASX-listed producers Boss Energy and Lotus Resources. He currently also serves as a non-executive director of Frontier Energy and Earth’s Energy.
Hantuba adds regional depth, with a 40-year career spanning finance, mining, insurance, real estate and corporate governance. His experience in Zambia and broader African markets is expected to support Atomic Eagle’s strategic positioning, particularly given his previous roles as chairman of Zambia’s Securities and Exchange Commission and president of the Economics Association of Zambia. He also chairs Chilanga Cement Zambia, the country’s largest cement producer.
Atomic Eagle declares maiden ore reserve at Muntanga
The board changes come shortly after Atomic Eagle declared a maiden ore reserve for its flagship Muntanga Uranium Project in Zambia following an independent engineering review that confirmed the technical integrity of the project’s feasibility study.
The company reported a probable ore reserve of 39.6 million tonnes grading 320 parts per million U₃O₈ for 28.0 million pounds of contained uranium, based on the outcomes of the previously completed feasibility study and an independent review undertaken to support ASX compliance.
Leadership transition supports next phase of growth
The board changes include a transition for Govind Friedland, who steps down as chairman to take on a non-executive director role. The company said his continued presence would ensure continuity while allowing the refreshed board to leverage additional sector-specific and regional expertise.
Meanwhile, Eric Krafft has resigned as a director, with the board acknowledging his contribution during his tenure.
Chief executive Phil Hoskins said the appointments strengthen Atomic Eagle’s capability across both uranium and African markets, positioning the company to advance its strategic objectives.
“We are delighted to have attracted individuals of the calibre of both Grant and Muna to the board of Atomic Eagle, as their experience in dealing in Africa over the duration of their careers is vitally important. In addition, Grant’s expertise in the uranium sector of more than 20 years will no doubt prove invaluable, having been the founder of both Boss Energy and Lotus Resources. I would also like to recognise the considerable work Eric has done for the Company as a director, and I wish him all the best in the future. I also look forward to continuing to work with Govind who steps down to a non-executive director.”
Uranium market tightens
A structural squeeze in global uranium supply is colliding with a fresh wave of demand from nuclear restarts, electrification and the energy needs of AI infrastructure, creating what some analysts describe as the strongest market backdrop in a generation.
Against this backdrop, Atomic Eagle Ltd is advancing a uranium development story built around scale, jurisdiction and timing, with its flagship Muntanga project in Zambia emerging as a potential near-term contributor to a tightening global supply chain.
The company’s strategy focuses on expanding an already substantial resource base, leveraging low-cost processing pathways and positioning the business to benefit from a broader geopolitical shift towards secure, non-Russian uranium supply.