REG - Capital Metals PLC - Directorate Change

Capital MetalsAnnouncement

02/04/2024 07:00

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RNS Number : 8042I  Capital Metals PLC  02 April 2024

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK
VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH
LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED.  ON
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

2 April 2024

 

Capital Metals PLC

 

("Capital Metals" or the "Company")

 

Directorate Change

 

Capital Metals (AIM: CMET), a mineral sands company approaching mine
development stage at the high-grade Eastern Minerals Project in Sri Lanka (the
"Project"), is pleased to announce the appointment of Bruce Griffin as a
Non-Executive Director, with immediate effect.

 

Mr Griffin has been appointed further to the notification of 15 March 2024 in
respect of the strategic acquisition by Sheffield Resources Limited (ASX: SFX)
("Sheffield") of approximately a 10% stake in the Company. Mr Griffin is a
nominee director of Sheffield.

 

Mr Griffin is an experienced resources industry professional with a
significant background within mineral sands. He is currently Executive Chair
of Sheffield, the 50% owner of the recently commissioned A$484 million
Thunderbird mineral sands mine in Western Australia. Mr Griffin is also a
Non-Executive Director of Savannah Resources PLC (AIM: SAV), CVW CleanTech Inc
(TSX: CVW) and Mawson Gold Limited (TSX: MAW). He has previously held several
Chief Executive and senior management roles with mineral sands and titanium
dioxide pigment companies, including at LB Group, TZ Minerals International
(TZMI), and BHP. Other prior roles include executive, commercial, strategy and
management consulting positions and a nine-year career with Shell. Mr Griffin
holds undergraduate degrees in chemical engineering and economics, as well as
a Master of Business Administration. He has previously acted as a consultant
to Capital Metals through Fairview Solutions Limited.

 

Greg Martyr, Executive Chairman of Capital Metals, commented:

 

"We are delighted to welcome Bruce to the Board following Sheffield's
strategic investment in the Company and interest in providing funding to
support the development of the Project into production. Bruce is well
respected throughout the global mineral sands industry and recently played a
key role in bringing Thunderbird, one of the largest and highest-grade mineral
sands discoveries in the last 30 years, into production in Western Australia.
This, coupled with his decades of experience within mineral sands and the
wider resources industries, will be valuable to Capital Metals as we plan for
mine construction, and introduce modern mining practices to Sri Lanka's
developing mineral sands sector."

 

 For further information, please visit www.capitalmetals.com
(http://www.capitalmetals.com) or contact:

 Capital Metals plc                           Via Vigo Consulting

 Greg Martyr (Executive Chairman)
 Vigo Consulting (Investor Relations)         +44 (0)20 7390 0234

 Ben Simons / Peter Jacob                     capitalmetals@vigoconsulting.com (mailto:capitalmetals@vigoconsulting.com)
 SPARK Advisory Partners (Nominated Adviser)  +44 (0)20 3368 3550

 Neil Baldwin / James Keeshan / Adam Dawes
 Tavira Financial                             +44 (0)20 7100 5100

 Jonathan Evans / Oliver Stansfield

 

Further information

 

Bruce John Griffin (aged 55) holds or has held the following directorships or
partnerships in the past five years:

 Current Directorships / Partnerships  Former Directorships / Partnerships within the last 5 years
 CVW CleanTech Inc.                     None

 Sheffield Resources Ltd

 Mawson Gold Ltd

 Savannah Resources PLC

 Fairview Solutions Limited

 

Mr Griffin holds 800,000 ordinary shares in the Company via Fairview Solutions
Limited. Sheffield Resources Limited, for whom Mr Griffin acts as nominee
director, holds 34,500,000 ordinary shares in the Company.

 

There is no further information to be disclosed pursuant to paragraph (g) of
Schedule 2 of the AIM Rules.

 

About Capital Metals

 

Capital Metals is a UK company listed on the London Stock Exchange (AIM:
CMET). We are developing the Eastern Minerals Project in Sri Lanka,
approximately 220km east of Colombo, containing industrial minerals including
ilmenite, rutile, zircon, and garnet. The Project is one of the highest-grade
mineral sands projects globally, with potential for further grade and resource
expansion. In 2022, a third-party Preliminary Economic Assessment provided a
Project NPV of US$155-235m based on existing resources, with further
identified optimisation potential. We are committed to applying modern mining
practices and bringing significant positive benefits to Sri Lanka and the
local community. We expect over 300 direct new jobs to be created and over
US$130m in direct government royalties and taxes to be paid.

 

Visit our website:

www.capitalmetals.com (http://www.capitalmetals.com)

 

Follow us on social media:

 

X (formerly Twitter): @MetalsCapital (https://twitter.com/MetalsCapital)

LinkedIn: @Capital Metals plc (https://uk.linkedin.com/company/capitalmetals)

 

 

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