Northern Minerals Faces Board Challenge as Major Shareholder Seeks Director’s Removal

Northern Minerals Limited ( (AU:NTU) ) has shared an announcement.

Northern Minerals has received formal notices from substantial shareholder Vastness Investment Group, which holds more than 5% of the company, requesting a general meeting to vote on a resolution to remove director Adam Handley from the board. The company notes that a similar resolution regarding Handley’s re-election is already set to be considered at its delayed 2025 AGM, which must be held by 31 March 2026 under court orders, and that the timing coincides with ongoing scrutiny by Australia’s Foreign Investment Review Board into potential breaches of earlier disposal and prohibition orders and foreign investment laws. Northern Minerals is assessing the shareholder request and has not yet been advised of any conclusion by FIRB, indicating a period of governance uncertainty that could influence board composition and foreign investment oversight for the rare earths developer.

The most recent analyst rating on (AU:NTU) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Northern Minerals Limited stock, see the AU:NTU Stock Forecast page.

More about Northern Minerals Limited

Northern Minerals Limited is an Australian company focused on heavy rare earths, with its key activities centred on the exploration and development of rare earth resources to supply markets that rely on these critical minerals for advanced manufacturing and technology applications.

Average Trading Volume: 32,949,326

Technical Sentiment Signal: Hold

Current Market Cap: A$343.6M

See more insights into NTU stock on TipRanks’ Stock Analysis page.