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.