Alexander John McCulloch, a former project manager at Beacon Minerals Limited (Beacon Minerals), has been convicted and sentenced to 12 months’ imprisonment for insider trading, to be released forthwith on a recognisance of $5,000 and to be of good behaviour for 2 years.

Mr McCulloch was sentenced by the Honourable Justice Gething of the Supreme Court of Western Australia on 25 August 2026 for one count of insider trading contrary to s1043A(1) of the Corporations Act 2001 (Cth).

The charge related to Mr McCulloch’s procurement of two associates, Christopher Allan Gall and Thomas James Collins, to acquire 11,000,000 shares (in aggregate) in Beacon Minerals in January 2017 while Mr McCulloch was in possession of inside information.

His Honour noted Mr McCulloch was in a ‘senior position’ and ‘a true insider’ who was ‘trusted by the directors of Beacon Minerals to treat the information which you acquired and your analysis of that information in strict confidence’.

‘Insider trading is a serious offence,’ his Honour said.

‘A person who engages in insider trading uses inside information to gain an unfair advantage over other traders in the market. It is a species of fraud’.

‘Insider trading is not a victimless crime. Rather, there are at least two victims: the seller or sellers of the stock at the lower price, and the public whose confidence in the integrity of the market must be diminished.’

Mr McCulloch pleaded guilty on 16 April 2026 to this charge, being one rolled-up count of insider trading (amended to include the procurement of both associates). One further count of insider trading was discontinued.

Background

As project manager for Beacon Minerals, Mr McCulloch oversaw the drilling programme at the Jaurdi Gold Project (Jaurdi) in the Goldfields of Western Australia when he came into possession of the inside information. The information related to results from the stage one drilling programme at Jaurdi which had not been announced via the Australian Securities Exchange.

When an announcement was made by Beacon Minerals on 31 January 2017 regarding the drilling results, Beacon Mineral’s share price increased by 33 per cent.

Mr McCulloch first appeared before the courts on the insider trading charges on 21 May 2021 (21-111MR). Mr McCulloch previously pleaded not guilty with a trial provisionally listed from 9-20 November 2026 which has now been vacated.

The Office of the Director of Public Prosecutions (Cth) prosecuted the matter after a referral from ASIC.