Lightning Minerals Ltd (ASX:L1M) has appointed Troy Brice as managing director, effective June 24, 2026, as the company moves ahead with a sharper focus on gold and copper assets, led by the Mt Turner Gold Project in northern Queensland.
The appointment follows Brice’s initial three-month period as chief executive officer, during which the board says he led a strategic reset of the business, refocusing Lightning around core gold and copper opportunities and beginning the divestment of non-core assets.
Brice was appointed CEO on March 23, 2026 and will now take on the managing director role under unchanged employment terms.
Board backs Brice after review
Lightning said the board had unanimously resolved to appoint Brice as managing director following his first three months with the company.
The company said the decision reflected the board’s confidence in his leadership and execution of the strategic reset, which has established Mt Turner as Lightning’s flagship asset and clarified its capital allocation priorities.
Non-executive chairman David Vilensky said Brice had undertaken a comprehensive review of the company’s strategy, asset portfolio and capital allocation since joining in March.
“Since joining Lightning Minerals as Chief Executive Officer in March, Troy has undertaken a comprehensive review of the company’s strategy, asset portfolio and capital allocation priorities and has successfully repositioned the company around a focused gold and copper growth strategy and his mission focus approach to decision making,” Vilensky said.
“The board has been particularly impressed by Troy’s leadership, disciplined approach to capital allocation and commitment to creating shareholder value.”
Board transition completed
As part of the leadership transition, Justyn Stedwell has resigned as non-executive director, effective June 24, 2026.
Lightning said Stedwell had agreed to serve on the board on a temporary basis pending the appointment of a managing director.
Vilensky thanked Stedwell for his contribution during the transition period, saying the company was grateful for his support over the past 3 months.
Focus on Mt Turner
Lightning Minerals is an Australian exploration and development company focused on gold and copper assets in Tier 1 mining jurisdictions.
Its flagship asset is the wholly owned Mt Turner Gold Project in northern Queensland, which hosts a large-scale gold system extending about 14 kilometres along the prospective Drummer Fault.
Mt Turner is now the primary focus of exploration, with work aimed at progressing the project toward resource definition and development.
Lightning also holds a pipeline of gold and copper projects across Australia, including assets in the Lachlan Fold Belt in New South Wales and the Eastern Goldfields of Western Australia.
Next steps
Lightning said Brice’s appointment supports the continued execution of its focused gold and copper strategy.
The company will continue advancing Mt Turner as its flagship asset while pursuing broader growth opportunities across its Australian gold and copper portfolio and continuing the divestment of non-core assets.