Magnum Mining and Exploration (ASX:MGU) has appointed Antonio Vitor Junior as executive chairman, while adding capital markets veteran Rowan Parchi as executive director.
Vitor takes on the expanded role in addition to his continuing position as managing director, effective today, 15 September 2026. The company says he receives no additional remuneration for the chairman duties, with his existing engagement terms unchanged.
Michael Davy steps down as non-executive chairman and continues as a non-executive director.
Parchi will lead corporate development as Magnum advances its Piracanjuba North Project toward a maiden mineral resource estimate (MRE) targeted for November 2026.
He has more than 20 years of experience across institutional equity markets, corporate development, and capital markets in Australia, North America, and Asia. Parchi is also co-founder and managing director of Bantry Advisors.
Under the appointment terms, Parchi receives $5,000 per month as a director’s fee, inclusive of superannuation.
Bantry Advisors receives $5,000 per month plus GST for executive and corporate development services, rising to $10,000 per month plus GST following capital raisings of at least $10 million in aggregate gross proceeds.
Subject to shareholder approval, Parchi will receive 25 million performance rights in four equal classes and 30 million options exercisable at $0.015, on the same material terms as incentive securities previously approved for other directors.
“Rowan’s appointment comes at an important point in Magnum’s development, with our major drilling program at Piracanjuba North approaching completion and a maiden mineral resource estimate targeted for November,” Vitor says.
The board has considered the governance implications of the chair also holding the managing director role and will address the company’s position in its next corporate governance statement.
Magnum Mining and Exploration is an Australian explorer whose flagship Azimuth REE Project in Brazil sits alongside magnetite assets in Nevada, US, and gold assets in Arizona.
Write to JC Villarba at Mining.com.au
Images: Magnum Mining and Exploration
