New Risk • May 29
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$171k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$171k free cash flow). Share price has been highly volatile over the past 3 months (45% average weekly change). Negative equity (-CA$637k). Revenue is less than US$1m. Market cap is less than US$10m (€5.13m market cap, or US$5.98m). Aankondiging • Feb 03
Bocana Resources Corp., Annual General Meeting, Mar 31, 2026 Bocana Resources Corp., Annual General Meeting, Mar 31, 2026. Location: ontario, toronto Canada Aankondiging • Oct 11
Bocana Resources Corp. (TSXV:BOCA) entered into a non-binding letter of intent to acquire an unknown stake in Venture Gold, Inc. for $20 million. Bocana Resources Corp. (TSXV:BOCA) entered into a non-binding letter of intent to acquire an unknown stake in Venture Gold, Inc. for $20 million on October 6, 2025. A cash consideration of $20 million will be paid by Bocana Resources Corp. As part of consideration, $20 million is paid towards common equity of Venture Gold, Inc.
The transaction is subject to regulatory approval, including but not limited to the TSX Venture Exchange, the consummation of a due diligence investigation, the execution of a definitive agreement, obtaining financing, and third-party approvals. Aankondiging • Dec 26
Bocana Resources Corp. Announces Board Changes Bocana Resources Corp. announced it has received a letter of resignation from Mr. David Thompson from the Company’s Board of Directors, effective December 20, 2024. Bocana and the Board of Directors appreciate all of the time and efforts that Mr. Thompson provided to the Company and wish him well in his other duties. The Board of Directors has unanimously approved the appointment of Mr. Saleem Sarwar to fill the vacancy until the next annual meeting of the Shareholders, in accordance with the constating documents of the Corporation and the Business Corporations Act (Alberta) (the "ABCA"). Mr. Sarwar has over 23 years’ experience in the commodities trading industry having started in 2001 working for Ransmile LLC, a Hong Kong based trading company. He spent time in Singapore, Beijing and Hainan Province, China working with Govt backed entities on selling refined oil products, where he was instrumental in structuring one of the large upstream crude supply contracts between one of the Middle East major oil producers and Grupa Lotos SA, one of Poland’s major oil refinery operators and station forecourt operators. In 2011, Mr. Sarwar was appointed Head of Trading at AMC in Dubai. The role involved leading a team of over 12 traders and support staff, trading refined oil products, metals, food stuffs with various cross global commodities companies and producers. Two years later, he was asked by the board of AMC, to develop several mining assets in East and Central Africa, specifically in Tanzania, Uganda and DRC. While there he oversaw mineral assaying, liaising with Govt bodies for mineral rights, mining operations, securing export permits and helping the company raise funds for the development of these assets. In 2018 he joined Elite Capital in London, as head of trading, reviewing complex trading structures. Subsequently, he started a medical healthcare company in the United Kingdom aimed at providing alternative healthcare solutions to healthcare operators in the UK and Europe. Helped develop the first Medical Cannabis balm to be approved for sale under prescription for pain management, arthritis and fibromyalgia in Europe. Aankondiging • Dec 02
Bocana Resources Corp., Annual General Meeting, Jan 30, 2025 Bocana Resources Corp., Annual General Meeting, Jan 30, 2025. Aankondiging • Jul 25
Bocana Resources Corp., Annual General Meeting, Oct 31, 2024 Bocana Resources Corp., Annual General Meeting, Oct 31, 2024. New Risk • May 24
New major risk - Negative shareholders equity The company has negative equity. Total equity: -CA$90k This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$899k free cash flow). Share price has been highly volatile over the past 3 months (140% average daily change). Negative equity (-CA$90k). Earnings have declined by 51% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (€680.7k market cap, or US$738.0k). Aankondiging • Apr 02
Bocana Resources Corp. (TSXV:BOCA) signed a non-binding Letter of Intent to acquire Empresa Minera Inti Raymi S.A. for $75 million. Bocana Resources Corp. (TSXV:BOCA) signed a non-binding Letter of Intent to acquire Empresa Minera Inti Raymi S.A. for $75 million on March 25, 2024. Pursuant to the LOI, Bocana may acquire a 100% ownership interest in INTI RAYMI, through the acquisition of all of the outstanding shares of INTI RAYMI. In aggregate, the parties have agreed that the purchase price for the IR Shares shall be up to a total of $75 million subject to adjustments to be described in the Definitive Agreement, which shall include all assets associated with the Project, equipment, land, records, data, etc. of INTI RAYMI. The Purchase Price is expected to be paid as follows: (i) a cash down payment of $3 million upon the closing of the Transaction; and (ii) the balance of the Purchase Price to be financed by INTI RAYMI shareholders to be satisfied through the expected monthly cash flow, at terms to be negotiated in the Agreement. BOCANA and INTI RAYMI will undertake to negotiate the Definitive Agreement within one hundred twenty (120) days following execution of the LOI, or such later date as the parties may mutually agree, and subject to the results of the due diligence investigations to be conducted by the Company. Such agreement is to be in form and substance satisfactory to the parties, including representations and warranties to each party customary in transactions of this nature and the agreed upon schedule of payments for the purchase of the subject Project owned by INTI RAYMI. The transactions contemplated by the LOI are subject to the following conditions: the entering into of a definitive share purchase agreement in respect of the Transaction by the shareholders of INTI RAYMI and Bocana. The Definitive Agreement will describe the terms and conditions upon which the Transaction will be completed; the entering into of the Definitive Agreement will be subject to the prior approval of the boards of directors of each of Bocana and INTI RAYMI; the completion of a financing by Bocana for gross proceeds of up to $7 million with the offering structure to be determined in the Definitive Agreement; the completion of satisfactory due diligence by Bocana; and approval of the TSX Venture Exchange. Aankondiging • Feb 01
Bocana Resources Corp. Announces Diamond Drill Assay Results from the Escala Gold/Silver/Base Metal Project in Bolivia Bocana Resources Corp. announced assay results from diamond drill holes HRC2303-HRC2305 on the Escala area concession in southwest Bolivia. Assay results confirmed high grade gold/silver and base metals associated with late stage hydrothermal breccias. The Company's inaugural drilling was completed on October 24, 2023, and tested both the Cerro Galapagos and Cerro Blancos areas as well the Laura Zone. The Cerro Galapagos target area hosts a large, multi-phased, felsic intrusive complex with extensive alteration and up to 4 phases of sulphide mineralization observed. HRC2303 and HRC2304 tested the Cerro Galapagos area, HRC2305 was completed in the Cerro Blanco area. Discussion of Results: Cerro Galapagos: Cerro Galapagos contains a large approximately, 2.0 X 2.0-kilometre, circular, induced polarization (IP) chargeability high and moderate to high resistivity anomalies. Diamond drill holes (HRC2303-2304) were completed at Cerro Galapagos where a large, felsic porphyry complex containing multiple phases and extensive argillic and phyllic alteration zones occur.HRC2303 is located approximately 200 metres north of the central core of the IP chargeability anomaly. The core depth was extended by more than 200 metres due to the extent of and the increasing concentrations of sulfides being observed with depth. Several intrusive phases were encountered, most of which were mineralized again by pyrite and minor arsenopyrite-pyrite phases. Starting at 277.0 metres for 1.8 metres of core length hydrothermal breccia with observed chalcopyrite was noted. HRC2304 was added to the program after the visual sulfides concentration in HRC2303 and is located 100 metres southwest from the HRC2303 collar location. The hole contains several intrusive phases including intrusive and intrusion breccia and a significant increase in hydrothermal breccias. HRC2304 hosted at least 4 phases of mineralization with base metal mineralization occurring in the apparently youngest, hydrothermal breccias. Again, most of the rock types encountered were mineralized with pyrite and minor arsenopyrite mineralization as disseminations and fracture fillings. Cerro Blanco: HRC2305-HRC2306 were completed for a total of 331.2 metres testing IP, chargeability, and resistivity highs. Both holes encountered approximately 5-10 metres of sediments before encountering a single phase of a quartz eye porphyry. Minor pyrite and chalcopyrite mineralization occurs at the sediment/intrusive contact in both holes and approximately 30 metres of crackle fractured intrusive in hole HRC2306 healed by finer grained pyrite with traces of chalcopyrite. Conclusions: The 2023 drilling program did locate an extensive, highly altered felsic porphyry system, with the continuity of gold throughout the potential bulk tonnage system remained generally low, under >0.10 g/t gold. However, significant concentrations of silver and gold also occurred in select areas. Several phases of mineralization occurred within the porphyry system, the apparent last phase was hydrothermal breccias with observed chalcopyrite, galena and sphalerite mineralization. The hydrothermal breccias encountered are probably associated with structures and might be in the form of “pipes”. It was recommended to Bocana that additional surveys be completed to determine the orientation and extent of these hydrothermal “pipes”. Additionally, detailed geological mapping within the Cerro Galapagos porphyry system, adding these core results with the historical diamond drilling results, is recommended prior to any additional drill testing, as part of the Phase 1 diamond drilling program recommendations found in the 43-101 Technical Report. Aankondiging • Jan 19
Bocana Resources Corp Completes the Delivery of Its Select Core Samples for Assay Analysis Bocana Resources Corp. announce that the Company has completed the delivery of its select core samples for assay analysis. These core samples were collected from recently completed diamond drilling campaign at the Company's Escala Project in Southwest Bolivia. This milestone is important for Bocana as it signifies the progress made in the explorationand development of the Company's inaugural mineral property in South America. The delivery of the core samples for assay analysis is a crucial step in assessing the potentialvalue and viability of the near surface porphyry deposit at the Escala area concession. The Company anticipates the results to be delivered on the first two cores in the next fewweeks, depending on the workload at the lab. The subsequent assay reports should follow shortly thereafter. Looking ahead, Bocana plans to continue its exploration and development efforts in South America. The Company remains committed to utilizing advanced technologies and environmentally conscious practices to maximize the value of its mineral properties while minimizing its ecological footprint. Aankondiging • Jan 12
Bocana Resources Corp. Provides an Update on Assay Analysis from the Escala Project in Bolivia Bocana Resources Corp. provided an update on Assay Analysis from the Escala Project in Southwest Bolivia have been received, compiled, and reviewed by Bocana personnel. Both holes tested the southern flank of the Cerro Galapagos, induced polarization-chargeability anomaly. The purpose of these holes was to test the porphyry potential of a large dacitic intrusive. Extensive hydrothermal alteration and mineralization in the form of pyrite with trace amounts of arsenopyrite and chalcopyrite were encountered, however no potentially economic base-precious metal concentrations were encountered over significant core lengths. The remaining holes that were drilled will also be analyzed by Bocana personnel and reported accordingly. In conjunction with the work being done at Escala, Bocana is currently awaiting a commissioned NI 43-101 report through its 100% owned subsidiary Huiracocha Development Services SRL. The report is part of an in-depth study of a previous mining operation in Bolivia that still contains extensive historical insitu, tailings and stockpile resources. Upon successful completion of the studies and acquisition of the property the Company plans to immediately commence additional metallurgical studies in order to begin production operations and increase gold and silver recoveries and lower production costs through leaching. Aankondiging • Dec 06
Bocana Resources Corp. Provides Additional Details on the Core Samples Delivered for Assay Analysis from the Escala Project in Bolivia Bocana Resources Corp. announced to add additional details on the selected core samples that were recently delivered for assay analysis. These core samples were collected from successfully completed diamond drilling campaign at the Company's Escala Project in Southwest Bolivia. Of the six cores that were sampled, a total of 1236.35 meters, or 75.12%, were submitted to ALS Bolivia Ltda for assay analysis. This milestone is important for Bocana as it signifies the progress made in the exploration and development of the Company's inaugural mineral property in South America. The delivery of the core samples for assay analysis is a crucial step in assessing the potential value and viability of the near surface porphyry deposit at the Escala area concession. Subject to the workload at the lab, the Company anticipates the results to be delivered on the first two cores soon. The subsequent assay reports should follow shortly thereafter. Looking ahead, Bocana plans to continue its exploration and development efforts in South America. The Company remains committed to utilizing advanced technologies and environmentally conscious practices to maximize the value of its mineral properties while minimizing its ecological footprint. Cerro Galapagos Area: Holes HRC2301-HRC2304 were completed for a total of 1314.70 metres on the Cerro Galapagos, testing a large, induced polarization, chargeability anomaly. Minor pyrite and chalcopyrite mineralization occurs at the sediment/intrusive contact in both holes and approximately 30 metres of crackle fractured intrusive in hole HRC 2306 healed by finer grained pyrite with traces of chalcopyrite. Laura Zone HRC2307 was drilled a total depth of 355.9 meters and the Company will submit selected samples for analysis at a later time. Core Sampling Protocols: All drill core samples have been collected under the supervision of Company employees. Drill cores were transported from the drill platform to the camp's logging facility where it was geotechnically and geologically logged, photographed, and split by diamond saw prior to being sampled. Samples were then bag, sealed, and numbered in order to maintain a chain-of-custody. Company employees also inserted blank, duplicate and a certified standard sample in each batch of twenty samples prior to transportation from the Escala area camp to the ALS Bolivia Ltda. laboratory site in Oruro, Bolivia. The ALS unit in Oruro is ISO 9001:2008 and ISO 17025:2005 accredited and ALS is the only laboratory in South America that has a high number of analytical methods accredited by ISO IEC 17025 and has the sample preparation stage included in this accreditation. Aankondiging • Nov 01
Bocana Resources Corp. Completes 2001.8 Metres in Seven Diamond Drill Holes At the Escala Gold-Silver Project in Bolivia Bocana Resources Corp. announced the completion of seven diamond drill holes on the Escala area concession in south-west Bolivia. The Company's inaugural drilling was completed on October 24, 2023 and tested both the Cerro Galapagos and Cerro Blancos areas as well the Laura Zone. The Cerro Galapagos target area hosts a large, multi-phased, felsic intrusive complex with extensive alteration and up to 4 phases of sulphide mineralization observed. Assay results are pending for all holes. Cerro Galapagos; Cerro Galapagos contains a large approximately, 2.0 X 2.0-kilometre, circular, induced polarization ("IP") chargeability high and moderate to high resistivity anomalies. Four diamond drill holes (HRC 2301-2304) were completed for a total of 1,314.7 metres testing different areas within the Cerro Galapagos area. Cerro Galapagos is a large, felsic porphyry complex containing multiple phases and extensive argillic and phyllic alteration zones. HRC 2301 tested the south-east corner of the large IP high at the inferred intrusive/volcanoclastic contain. Extensive pyrite and arsenopyrite-pyrite mineralization was encountered in both rock types indicating at least two phases of mineralization. HRC 2302 tested the south-west area of the IP, chargeability anomaly within the intrusive body. The hole was entirely within the intrusive complex containing different phases of intrusive activity with the intrusion breccias hosting much of the pyrite and arsenopyrite-pyrite phases of mineralization. HRC 2303 is located approximately 200 metres north of the central core of the IP chargeability anomaly. The was extended by 150 metres due to extent and increasing sulphides concentrations with depth. Several intrusive phases were encountered, most of which were mineralized again by pyrite and arsenopyrite-pyrite phases. HRC2304 was added to the program after the visual sulphides concentration in HRC2303 and is located 100 metres from the HRC 2303 collar location. The hole contains several intrusive phases including intrusive and intrusion breccia and a significant increase in hydrothermal breccias. H2304 hosted at least 4 phases of mineralization with base metal mineralization occurring in the apparently youngest, hydrothermal breccias. Again, most of the rock types encountered were mineralized with pyrite and arsenopyrite mineralization as disseminations and fracture fillings. Cerro Blanco; HRC-2305/06 were completed for a total of 331.2 metres testing IP, chargeability, and resistivity highs. Both holes encountered approximately 5-10 metres of sediments before encountering a single phase of a quartz eye porphyry. Minor pyrite and chalcopyrite mineralization occurs at the sediment/intrusive contact in both holes and approximately 30 metres of crackle fractured intrusive in hole HRC 2306 healed by finer grained pyrite with traces of chalcopyrite. Laura Zone; HRC 2307 tested an area of known mineralization from historic mining areas and ended at 355.9 metres. The hole encountered a single-phase intrusive body with several narrow fractures healed by mainly pyrite. In the area of the Laura vein, base metal mineralization was also encountered in facture zones less than a metre in thickness. Aankondiging • Sep 29
Bocana Resources Corp. Completes Approximately 500 Metres of Diamond Drill Testing At the Escala Project in Bolivia Bocana Resources Corp. announced the completion of the first two of nine proposed diamond drill holes on the Escala area concession in south-west Bolivia. The Company's inaugural drilling of both NQ and HQ size cores is expected to take another three weeks to complete the proposed 2,000 metre program. The two completed holes tested the southern flank of a large, induced polarization chargeability anomaly that is interpolated to be related to a mineralized near surface porphyry system called Cerro Galapagos. Hydrothermal and intrusion breccias hosted within a dacitic porphyry have been observed. Fracture controlled sulphides, mainly pyrite and minor arsenopyrites as well as magnetite, have also been noted. Core Sampling Protocols: All drill core samples will be collected under the supervision of Company employees. Drill cores are transported from the drill platform to the camp's logging facility where it will be geotechnically and geologically logged, photographed, and split by diamond saw prior to being sampled. Samples will then be bagged, sealed, and numbered in order to maintain a chain of custody. Company employees will also insert blank, duplicate and a certified standard sample in each batch of twenty samples prior to transportation from the Escala area camp to the ALS Bolivia Ltda. (ALS) laboratory site in Oruro, Bolivia. ALS will provide Bocana with sample preparation and analysis services at its ISO/IEC 17025 accredited facilities. The ALS unit in Oruro is ISO 9001:2008 and ISO 17025:2005 accredited and ALS has the only laboratory in South America that has a high number of analytical methods accredited by ISO IEC 17025; the ALS laboratory also has the sample preparation stage included in this accreditation. Aankondiging • Sep 21
Bocana Resources Corp. Commences Diamond Drilling Program At the Escala Project in Bolivia Bocana Resources Corp. announce that it has commenced the 2,000 metre diamond drilling campaign, with Leduc Drilling S.R.L. of La Paz, Bolivia, on the Escala area concession in Southwest Bolivia. This is the Company's inaugural drilling program and is expected to take several weeks to complete phase 1 of this drilling campaign. The Phase I program will be conducted using NQ size core drilling in nine locations. Upon completion of Phase I, drilling will stop until all assay results have been received prior to planning the second phase of drilling, a proposed 3,000 metre follow up drilling program. The largest portion drilling program is expected to occur in the Cerro Galapago area of the Escala concession and is projected to have a total of five of the nine proposed drill holes located around it, as identified on the attached Escala area map. The only historic drilling completed on this large near surface porphyry target were vertically drilled in the very central area with a high chargeability/very low resistivity anomaly; this area typically hosts lower grade mineralization and is usually not the primary area to test. Additionally, the Company intends to drill two shallow dipping, 250 metre length, drill holes in the Cerro Blanco area. As previously reported, the vast majority of prior drilling efforts were completed by drilling vertically dipping drill holes. Recent data suggests a near vertically dipping, structural influence on mineralization; therefore, the Company believes that this area has not been properly evaluated from drill testing. The remaining planned holes will be drilled along the main mine trend to the east where there are known historical precious/base metal veins. The induced polarization geophysical survey located an area of high chargeability and resistivity anomalies indicating an area of silicification/quartz veining with high sulphide content that has not been drill tested. Bocana plans to complete a fence of two holes, both 250 metres in length, across these geophysical anomalies. New Risk • Aug 27
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$817k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$817k free cash flow). Share price has been highly volatile over the past 3 months (42% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (€2.07m market cap, or US$2.23m). Aankondiging • Jul 01
Bocana Resources Corp. Provides Project Update for the Diamond Drilling of the Escala Project in Bolivia Bocana Resources Corp. provided an update on the diamond drilling project for its Escala Project in Bolivia. After the contract was signed with Leduc Drilling S.R.L., (“LeDuc”) for the first phase ("Phase I") of the diamond drilling campaign, the Company’s geological team was deployed shortly thereafter to the site and began identifying the initial nine drill hole locations. Subsequently, Corporación Minera de Bolivia (“Comibol”), indicated their desire to mobilize an onsite representative to provide liaison support and coordinate resources with the local area communities, the Company and Comibol before the drilling was to begin. However, Comibol’s delay in deploying this liaison has postponed the commencement of the drilling portion of the Company’s Phase I drilling campaign. As a result, it is now estimated that the drilling will commence as soon as Comibol deploys their site representative to the Escala area, which company anticipates will take place in the next several weeks and LeDuc will be mobilized immediately thereafter. With a projected completion time of 4-5 weeks after the commencement of the drilling program, the cores will be sent to a regional laboratory for analysis and the Company will disseminate the assay results as they are received. Aankondiging • Feb 03
Bocana Resources Corp. Announces Exploration Plans for the Escala Area Concession Bocana Resources Corp. announced that with the recently completed reverse takeover transaction between Bocana Resources Ltd. and United Hunter Oil & Gas Corp., the Company is now focused on the development of the phase 1 exploration plan (the “Phase 1 Program”). The Phase 1 Program was outlined in the technical report entitled "Technical Report for the Escala Project" (“Technical Report”), which was prepared in accordance with National Instrument NI 43-101, Standards of Disclosure for Mineral Projects ("NI 43-101") by Greg Bronson, P.Geo., an independent "Qualified Person" (as defined in NI 43-101). The Escala project is in the Department of Potosi, Sud Lipez Province of Bolivia. The Company, through its subsidiary Huiracocha International Service SRL, has received a twelve-month work permit from the Corporación Minera de Bolivia (“Comibol”), effective January 3, 2023, and the Company is in the process of identifying and selecting a regional exploration drilling company to begin the proposed first year of the Phase 1 Program. The largest expenditure of the Phase 1 Program is a reverse circulation drilling program that proposes to drill up to 5,000m in several locations on the property. A reverse circulation drilling method is fast and has low water requirements and is generally ideal for these types of environments. This plan was recommended as the first round of drilling of several follow up drilling plans based on the anticipated results achieved with this round of drilling. The Company is currently in the process of identifying several drill sites for the drilling program based upon the geophysical work that was recently reprocessed. As proposed in the Technical Report, the field geologists will be directed to make special effort to log rock texture as part of the rock lithological descriptions collected during drilling. Rock texture is expected to be a key in delineating the mineralized zones that are encountered. Additionally, all drill holes should be inclined 45-50 degrees as most mineralized structures identified to date are subvertical. Upon completion, all core samples will be sent to the lab for a detailed mineral analysis. Furthermore, the Technical Report states that the drilling program should be divided into three primary areas: The Cerro Galapago area is the primary target for the reverse drilling program. Bocana geologists have interpreted that this area is potentially host to a large, near surface, porphyry system that likely offers a sizeable bulk tonnage drill target. Seventy percent of the drill budget should be allocated to this effort. The Cerro Blanco area is the secondary target. Bocana geologists see a strong structural influence on mineralization in this area and have interpreted subvertical structures that were not properly targeted during previous drill programs. This area has the potential to host a higher-grade mineralization. Twenty percent of the drill budget should be allocated to the Cerro Blanco area. The known historical precious/base metal veins are a tertiary drill target. Raw geophysics shows a strong chargeability anomaly drilling target. Ten percent of the drilling budget should be allocated for this area. These drilling budget percentages could change once the raw geophysics have been compiled and thoroughly reviewed. Further details on these plans will be provided as they continue to develop. Mr. Lorne Warner, P.Geo., Vice President, Geology, is a Qualified Person as defined by NI 43-101. Mr. Warner supervised the preparation of the technical information contained in this release. Board Change • Jan 11
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. 
