REG - Future Metals NL - Board and Management Changes

Future Metals NLAnnouncement

27/03/2024 07:00

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RNS Number : 4104I  Future Metals NL  27 March 2024

27 March 2024

Future Metals NL

Board and Management Changes

Future Metals NL ("Future Metals" or the "Company", ASX|AIM: FME) is pleased
to announce strategic Board changes in line with the continued development of
the Panton PGM-Ni-Cr Project ("Panton" or the "Project") and overall growth of
the Company.

Mr Jardee Kininmonth has resigned as a Director of the Company with immediate
effect but has agreed to continue to assist with his current duties as CEO, as
required, for a transition period until 31 May 2024. Mr Sam Rodda joins the
Company as Non-Executive Director, effective immediately.

Jardee has played a critical role in directing the Company's overall strategy
and demonstrating the significant value of the Panton Project. This is
highlighted by the successful delivery of the upgraded JORC 2012 Mineral
Resource Estimate ("MRE"), the subsequent delivery of the Panton Scoping
Study, and significantly expanding the Company's strategic exploration
position in a highly prospective region.

Panton is now well positioned to capitalise on the next upswing in PGM prices,
with a high-grade resource of 37.2Mt at 3.3g/t PdEq for 3.9Moz and Scoping
Study demonstrating the potential for a long-life, globally significant PGM
operation. The Scoping Study was built upon >A$50m investment into Panton
including the prior feasibility studies, ~45,000m drilling and the decline
access to orebody & comprehensive bulk metallurgical test work.

Sam Rodda's appointment to the Board of Future Metals provides additional
capacity and competence in the planned development of future operations at
Panton. Sam has broad experience within technical and commercial roles within
the mining industry. Notably, Sam was previously Managing Director of the ASX
listed PGM developer Podium Minerals Limited. Sam has also held significant
operational roles at number of large underground and open pit mining
operations in Australia and internationally, including at MMG limited, where
he held the position of General Manager Operations and Technical Excellence.
Sam has also held senior roles within WMC and BHP Billiton.

Future Metals Executive Chairman Mr Patrick Walta said the Board changes
complement the Company's continued progression of Panton toward operations,
and now is the right time to appoint the team who will lead Future Metals
through the final feasibility stages in order to be production ready during
the next PGM price upswing.

Patrick commented further, saying:

"On behalf of the Board, I would like to thank Jardee for the exceptional job
he has done in leading the substantial de-risking and improved positioning of
the Panton Project, providing a solid foundation for taking the Project
forward. Panton is now established as the highest grade PGM resource in
western world and one of a few deposits which is sufficiently advanced to be
capable of bringing into production in the near term.

"In addition, the appointment of Sam adds extensive experience to the Board on
both operational and commercial fronts, and his skills set is perfectly
positioned to contribute to the next chapter in the evolution of both Panton
and Future Metals."

AIM Rules for Companies, Schedule 2(g) Disclosures for Mr Sam Rodda

As required by Schedule 2(g) of the AIM Rules for Companies, the Company
confirms that Sam Thomas Rodda, aged 45, is currently a director/partner, or
has been a director/partner in the past five years, of the companies listed
below:

 

 Current Directorships/Partnerships  Past Directorships/Partnerships (in the last five years)
 Rodski Pty Ltd                      Podium Minerals Limited
 Sala Consulting Pty Ltd             MMG Dugald River Pty Ltd

 

Mr Rodda holds 333,333 ordinary shares of no par value in the Company
("Ordinary Shares") and options over 166,667 Ordinary Shares, with an exercise
price of A$0.10 each.

 

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

 

For further information, please contact:

 

 Future Metals NL                           +61 8 9480 0414
 Patrick Walta                              info@future-metals.com.au (mailto:info@future-metals.com.au)
 Strand Hanson Limited (Nominated Adviser)  +44 (0) 207 409 3494
 James Harris/James Bellman

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as is forms part of United Kingdom domestic law pursuant to
the European Union (Withdrawal) Act 2018, as amended by virtue of the Market
Abuse (Amendment) (EU Exit) Regulations 2019.

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