Last checked at 15 May 2024 07:00
Critical Metals plc / EPIC: CRTM / Market: Main Market / Sector: Closed End Investments
15 May 2024
Critical Metals plc
("Critical Metals" or the "Company")
Board Changes
Critical Metals plc, a mining company established to acquire mining opportunities in the critical and strategic metals sector, currently developing the Molulu copper cobalt mine ("Molulu") in the Democratic Republic of Congo ("DRC"), is pleased to announce the appointment of Dr. Avinash Bisnath to the Board as Non-Executive Director, with immediate effect.
As a qualified PhD geologist, Dr. Bisnath has over 28 years' experience in the mining industry with a focus on geological exploration. He started his career with Anglo American Platinum Corporation Limited in South Africa and has spent most of his professional life within the African Continent.
Dr. Bisnath spent three years as a Lecturer in the Department Geology, at the University of KwaZulu-Natal ('UKZN') in South Africa. His advisory contributions in guiding various projects to success showcase his ability to navigate complex multi-commodity projects at different stages of their development. Awarded by the University of Cape Town, his Ph.D. research delved into continental geodynamics and evolution, showcasing his profound commitment to advancing geological understanding. Furthermore, his understanding of geological dynamics, coupled with his hands-on field experience across Africa, including the DRC, makes him an invaluable addition to the Critical Metals team.
In addition to the appointment of Dr. Bisnath, Critical Metals has also appointed an external Qualified Person ("QP") to independently verify the geological data produced at Molulu in support of a future JORC report.
The Company also announces that Mr. Gordon Thompson, is stepping down from his position as Non-Executive Director at Critical Metals due to work commitments and restrictions on his employment contract with Copper360, where he is the Chief Operating Officer. We would like to take this opportunity to thank Gordon for his fantastic contributions to Critical Metals in his relatively short tenure and wish him all the best for the future.
Russell Fryer, CEO of Critical Metals said: "We are thrilled to welcome Avinash to the Board of Critical Metals. Avinash has visited Molulu many times over the last two years and has a solid understanding on how the Molulu copper ore seams were formed. This knowledge coupled with his extensive experience in exploration and beyond will prove invaluable to the Company as we advance the Phase 1 drilling programme to increase the input of data for the block model, mine plan, and ultimately for publishing a JORC report at Molulu. We are also delighted to welcome a new independent QP to support us in these objectives."
"Finally, we reluctantly accepted Gordon's letter of resignation from the Board but understand the pressure of his current work commitments and wish him all the best at Copper360. Critical Metals plc is committed to leadership in corporate governance and it is our intention to continue to strengthen the Board as we accelerate growth."
Dr. Bisnath currently holds the following Directorships:
Current Directorships | Former Directorships and/or partnerships (within the last five years) |
Geological Society of South Africa | n/a |
Luhlaza Advisory and Consulting Pty Ltd | |
Gondwana Family Trust - Trustee | |
**ENDS**
For further information on the Company please visit www.criticalmetals.co.uk, follow on X @CriticalMetals_ or LinkedIn, or contact:
Critical Metals plc Russell Fryer, CEO |
Tel: +44 (0)20 7236 1177 |
St Brides Partners Ltd Financial PR Ana Ribeiro/Isabelle Morris |
Tel: +44 (0)20 7236 1177 |
About Critical Metals
Critical Metals PLC has acquired a controlling 100% stake in Madini Occidental Limited, which holds an indirect 70% interest in the Molulu copper/cobalt project, an ex-producing medium-scale asset in the Katangan Copperbelt in the Democratic Republic of Congo. In line with its investment strategy of focusing primarily on known deposits, targeting projects with low entry costs and the potential to generate short-term cash flow; the Company intends to produce 120,000t/per annum of Copper Oxide Ore.
The Company will continue to identify future assets that are in line with its stated acquisition objective of low CAPEX and OPEX projects with near-term production, concentrating on minerals that are perceived to have strategic importance to future economic growth and generate significant value for shareholders.