UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers.
Resignation of a Director
On May 7, 2025, Kevin Francis informed Texas Mineral Resources Corp. (“Company”) of his decision to resign as a director, effective that date. In connection with Mr. Francis’ resignation as a director, Mr. Francis also resigned as a member of the compensation committee. Mr. Francis had no disagreement with the Company on any matter relating to its operations, policies or practices. The Company is grateful for, and appreciative of, Mr. Francis’ service as a director, as well as his serving on the compensation committee.
Appointment of New Director to Fill a Vacancy
Effective May 8, 2025, Jonathan Beigle, age 42, was appointed and elected a director by the unanimous vote of the members of the board of directors (“Board”) of the Company to fill the vacancy created by the resignation of Mr. Francis, to serve until the next annual meeting and until his successor is duly elected and qualified. Mr. Beigle was also appointed to serve on the Company’s Audit Committee. Mr. Beigle is a senior executive with more than 20 years of experience working in various leadership roles across the metals and mining industry. Since 2020, Mr. Beigle has served as director, president and chief executive officer of Ridgeline Royalties Incorporated (“Ridgeline”), a leading source of royalty and stream financing for miners that supply the clean energy marketplace. Prior to founding Ridgeline, Mr. Beigle was a part of Newmont Corporation’s (NYSE: NEM) award-winning investor relations team from 2018 through 2020. From 2004 until 2016, Mr. Beigle was a mining analyst at Manning & Napier Advisors, an institutional investment firm in Fairport, NY. Mr. Beigle’s past board experience includes service on the board of directors (2020-2024) of the Rocky Mountain Chapter of the National Investor Relations Institute and as a member of the Finance Strategic Committee (2018-2021) for the Society for Mining, Metallurgy and Exploration. Mr. Beigle has a Master of Science degree in mining engineering and management from the South Dakota School of Mines and a Bachelor of Science degree in business with a specialization in finance from Liberty University. Mr. Beigle is a CFA® charterholder. The Company believes that Mr. Beigle’s extensive business experience in the metals and mining industry qualifies him to serve on the Board.
It is expected that Mr. Beigle will be entitled to customary compensation for serving as a Board member (and audit committee member) consistent with the current compensation practices of the Board.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit Number |
Description | |
99.1 | Press Release dated May 9, 2025 | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Current Report to be signed on its behalf by the undersigned thereunto duly authorized.
TEXAS MINERAL RESOURCES CORP. | ||
Date: May 8, 2025 | By: | /s/ Wm. Chris Mathers |
Name: Wm. Chris Mathers | ||
Title: Chief Financial Officer |