REG - Critical Metals PLC - Board Changes

Critical MetalsAnnouncement

15/05/2024 07:00

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RNS Number : 4208O  Critical Metals PLC  15 May 2024

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. 

 

 

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