About Cauldron
Cauldron Energy Ltd (ASX:CXU) is a mineral exploration and resource development company focused on uranium and other minerals supporting the clean energy transition and critical to the nuclear power renaissance occurring globally.
The Company’s flagsip project is the world class Yanrey Uranium Project in northern Western Australia, which encompasses three separate deposits (Bennet Well, Manyingee South and Manyingee North) each host to substantial uranium resources – refer to the Projects tab for more information.
In addition, Cauldron holds a number of sand tenements in the Onslow region of Western Australia prospective for construction, in-fill and concrete production.
In late 2022, following a recapitalisation and securing a new senior management team, the Company embraced a refreshed strategy that recognises the inevitable journey towards a low carbon economy, which is creating significant opportunities in the supply of minerals that are critical to those new industries.
The growth of Cauldron is based on careful planning and development , coupled with responsible decision making by Board and Management to provide value enhancement for shareholders.
Board & Management
Ian Mulholland
Chairman
Mr Mulholland has had a long and distinguished career holding senior technical and executive roles for over 30 years.
Most notably, Mr Mulholland was Chief Geologist of Summit Resources during which time Summit completed a resource upgrade on the Valhalla uranium deposit and acquired a portfolio of uranium projects; ultimately being taken over by ASX-listed Paladin Resources for ~$44 million.
Subsequently, Mr Mulholland was Exploration Manager at Anaconda Nickel during the period that Anaconda grew its lateritic nickel ore resource from 300 million tonnes to over 1.3 billion tonnes; and Technical Director of Conquest Mining during the period in which Conquest acquired the Carlton silver-gold project with Conquest subsequently merging with Evolution Mining for a ~$320 million valuation.
Most recently, Mr Mulholland was founding Managing Director of ASX-listed Rox Resources for 15 years. Since retiring from Rox Resources in April 2019, Mr Mulholland has operated a highly successful geological and mining personal consultancy.
Rox Resources was awarded Australian Mining Prospect Awards Explorer of the Year in 2015 for its Fisher East Nickel Sulphide Project discovery and Ian was joint winner of AMEC’s 2016 Prospector Award for the Teena Zn-Pb discovery.
Mr Mulholland holds a Bachelor of Science with Honours from the University of Sydney, a Master of Science from James Cook University, a Diploma of Science Education with Honours from Edith Cowan University and has completed numerous professional development courses. He also holds or has held numerous professional memberships including being a Fellow of the Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists, and Society of Economic Geologists and a Member of the Australian Institute of Company Directors.
Jonathan Fisher
CEO
Mr Fisher holds degrees in Law, Finance and Commerce (University of Western Australia and Macquarie University), and has 20 years’ experience in the resources and corporate industries.
Jonathan is heavily involved in the uranium sector in Australia, being recognised as a leading advocate for the sector, as well as being an active participant of the Uranium Forum of the Minerals Council of Australia, and on the organizing committee of the Global Uranium Conference. He has a strong presence on social media and is active across various media platforms promoting the cause for CXU and the broader industry.
Prior to CXU, Mr Fisher was Chief Financial Officer at TNG Ltd and led their project financing and government liaison teams. He was responsible for delivery of $800M in conditional financing support for TNG’s Mt Peake project in the NT.
Prior to that Jonathan was Chief Financial Officer for five years for Tellus Holdings Ltd, a hazardous and radioactive waste management company with customers ranging from mining, oil & gas, utility and heavy industry sectors. This included securing $160M pre-development and then development financing for the Sandy Ridge facility in Western Australia, and liaison with a number of different West Australian state and Federal government departments to deliver the holistic financial assurance and insurance framework for the project.
In the iron ore sector, Mr Fisher was General Manager Corporate Finance for Atlas Iron for circa 4 years during the period 2012 to 2015 where he was responsible for all corporate treasury operations, debt capital for project development, and various other commercial responsibilities.
Other roles have included corporate advisory at Price Waterhouse Coopers, Rothschild (London based), and Poynton and Partners. Of particular relevance, Jonathan was a member of the Natural Resources, Utilities and Infrastructure team at Rothschild where he was involved in corporate advisory roles in the nuclear energy sector across Europe.
Mr Fisher is a Graduate of the Australian Institute of Company Directors (GAICD) and a fellow of Finsia.
Michael Fry
Executive Director, CFO and Company Secretary
Mr Michael Fry is a highly experienced finance executive who has acted in the capacities of director, chief financial officer and company secretary of ASX listed companies for over twenty years. Michael joined Cauldron on 15 April 2019. Mr Fry spent the first ten years working in chartered accounting with KPMG (Perth) and Deloitte (Melbourne).
After leaving chartered accounting, Michael worked in corporate advisory with Troika Securities Ltd (Perth) prior to moving to Swick Mining Services Limited, an ASX listed drilling services provider contracting to the mining industry in Australia and North America. Michael also holds the CoSec position with APC Minerals Ltd (ASX: APC).
Mr Qiu is a highly experienced industrialist with more than 26 years’ experience in the architecture, construction and real estate industries in China as well as over 18 years of experience in the management of enterprises and projects throughout the country.
Mr Qiu has a MBA obtained from the Oxford Commercial College, a joint program operated by Oxford University in China.
Qiu Derong
Non-Exec Director
John Higgins
Exploration Manager
John holds an M.Sc (CODES) and a B.Sc. (Hons) from the University of Adelaide. He undertook a Ph.D studying the evolution of uranium-bearing palaeochannel systems of the eastern Eucla Basin and has over 20 years experience managing grass-roots exploration, resource delineation and resource development programs.
Unusually for a minerals exploration geologist, he has a petroleum geology background and holds a Honours equivalent degree in Petroleum Geology & Geophysics from the Adelaide School of Petroleum. This background gives him a unique insight into understanding the sequence stratigraphy, sedimentology and evolution of uraniferous palaeochannel systems.
He has an outstanding record of exploration success having commenced his career with Heathgate Resources at the Beverley Uranium Mine undertaking near-mine and regional exploration. In 2005 he personally drilled the discovery holes on the 4-Mile Uranium deposits and went on to define the world class ‘text-book’ uranium roll-front at 4-Mile West.
After leaving Heathgate, he worked for Deep Yellow Ltd in the Mount Isa region exploring for hard-rock IOCG-U and Valhalla-style metasomatic uranium systems, culminating in the definition of a maiden resource at the Queen’s Gift Uranium Deposit.
He subsequently worked in central Australia, where he discovered the Yalyirimbi U occurrence within the Ngalia Basin north of Alice Springs, before working for Cameco as the lead geologist overseeing resource development drilling at the Angela-Pamela uranium project.
Over the subsequent decade he has managed exploration programs exploring for gold, lithium pegmatites, iron-ore, manganese and base metals across Australia and in South- and Central-America.
His track record of exploration success has continued at Cauldron with the discovery of the Manyingee South Deposit in 2024 and the Manyingee North and Cosgrove Deposits in 2025.
He considers the Yanrey Uranium Province to be the most prospective uranium province in Australia with the potential to be developed into the largest uranium deposit in Western Australia.
Sophy Townsend
Environment and Community Manager
Ms Townsend holds a degree in Environmental Science (Honours) (University of Wollongong) and has over 25 years of experience in environmental impact assessment; federal, state, and local planning/approvals; and community and stakeholder engagement.
Sophy is an accomplished environmental scientist and project manager and has worked on the preparation of regulatory submittals in Australia, the United States, and Canada for numerous developments (e.g. mines, hazardous and radioactive waste repositories, and radioactive waste facilities, transmission lines, ports, airports, power stations, battery energy storage systems, and wind energy projects) including some of the largest and most critical infrastructure projects and first-of-their-kind projects in Australia.
Sophy has a proven track record of environmental impact assessment and approvals in Western Australia (WA). She played an integral role in securing the environmental approvals (from both the WA Government and Australian Government) for the dual mining/hazardous and radioactive waste repository (the Sandy Ridge Facility) built in WA by Tellus Holdings. This involved extensive stakeholder engagement with the community, including local Aboriginal groups and Native Title Holders.
Prior to joining CXU, Ms Townsend directed the regional and emerging energy program at the Energy Corporation of NSW (EnergyCo) and provided strategic environment and planning advice, securing planning approvals from both the NSW and Australian Government for the Hunter Transmission Project and the Waratah Super Battery, both of which are critical for energy security in NSW and are Priority Network Infrastructure Projects (PNIP) and Critical State Significant Infrastructure (CSSI).
Corporate Governance
Board Charter
Appendix 4G and Corporate Governance Statement 2025
Code of Conduct
Securities Trading
Continuous Disclosure
Shareholder Communications
Director Selection and Appointment
Performance Evaluation
Risk Management
Diversity
Whistleblower Policy
Environment Policy