• Chief executive Richard Pugh will become Managing Director, and Anthony McClure will move from Non-Executive Director to Non-Executive Chair.
  • Andrew Bray will step down as Executive Chair to become a Non-Executive Director, and Kristen Podagiel will join the board as a Non-Executive Director.
  • All changes take effect at the close of the 2026 Annual General Meeting on 16 November 2026.

Gateway Mining Limited (ASX:GML) announced on 15 October 2026 a restructure of its board and senior management. Chief executive Richard Pugh will become Managing Director, Anthony McClure will move from Non-Executive Director to Non-Executive Chair, and Andrew Bray will step down from his role as Executive Chair to become a Non-Executive Director. Kristen Podagiel will join the board as a Non-Executive Director. All changes take effect at the conclusion of the 2026 Annual General Meeting on 16 November 2026.

Who is changing role

Mr McClure said the Non-Executive Chair role comes at an exciting period of exploration and development, and noted that Mr Bray had agreed to a twelve-month executive period which was extended by several months to November 2026. Mr Pugh pointed to what he called an exceptional balance sheet, with more than A$50 million in cash according to the release, and to multiple discoveries across the Yandal Gold Project, including Cowza.

Mr Pugh has more than 18 years of industry experience and was previously Executive Technical Director at Strickland Metals Limited. The company credits him with overseeing discoveries at Haflinger, Hummer, Rubicon and Cowza, and with defining mineralised systems at Celia South, Great Western and Ward. Mr McClure has 35 years of experience, is Executive Chairman of Norfolk Metals Limited, a Non-Executive Director of Strickland Metals, and has been closely involved with the Yandal Project since 2021.

Ms Podagiel is a commercial lawyer with more than 20 years of experience on major projects, and is a former CEO and Managing Partner of McCullough Robertson. She is currently a Non-Executive Director of Silver Mines Limited (ASX:SVL).

Board after the AGM

From 16 November 2026 the board will consist of Mr McClure as Non-Executive Chairman, Mr Pugh as Managing Director, and Non-Executive Directors Mr Bray, David Morgan, David Crook and Ms Podagiel, with Kar Chua as Company Secretary.

Mr Pugh's executive services agreement

The release sets out the material terms of Mr Pugh's agreement. It starts on 16 November 2026, has no fixed term and continues until either party ends it. Total fixed remuneration is A$340,000 a year plus statutory superannuation, subject to periodic review. A short-term incentive of up to 100 per cent of that remuneration is payable at the board's discretion if agreed targets are met, in cash, shares or both, subject to the ASX Listing Rules. Either party may terminate on six months' notice, and the company may end the agreement without notice in cases such as serious misconduct.

Mr Pugh also holds previously issued performance rights under the Employee Incentive Plan: 5,000,000 rights vesting at a 10-day Volume weighted average share price of A$0.125 and expiring before 31 December 2028, 5,000,000 at A$0.175 expiring before 31 December 2029, and 5,000,000 at A$0.25 expiring before 27 November 2030.

Points to note

This is a governance announcement. It contains no new exploration results, financial results or funding. The cash figure and the discoveries are statements by company executives and are not accompanied by a cash report in this release. The changes depend on the AGM taking place on the stated date.