RCS - South Harz Potash Ld - Appointment of Executive Chairman

Sibanye StillwaterAnnouncement

20/05/2022 08:30

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RNS Number : 2376M  South Harz Potash Ltd  20 May 2022

ASX ANNOUNCEMENT

20 May 2022

 

 
APPOINTMENT OF EXECUTIVE CHAIRMAN

South Harz Potash Limited (ASX:SHP) (South Harz or the Company) advises of the
appointment of its existing Chairman, Mr Ian Farmer, to the role of Acting
Executive Chairman. This appointment follows the immediate departure of
previous Managing Director and CEO, Mr Chris Gilchrist, from the business.

 

Mr Farmer is a UK-based, highly experienced mining executive. He served as CEO
of Lonmin plc, the third largest platinum miner globally, between 2008 and
2012, during which he oversaw a period of significant transformation, both
operationally and financially. During his 26 years at Lonmin plc, and its
parent company Lonrho plc, Mr Farmer held various other senior financial and
management positions, including the role of Chief Strategy Officer from 2001
to 2008. Mr Farmer also led the acquisition of various junior mining projects
and their integration into the Lonmin group. He has been a Non-Executive
Director of The Royal Marsden NHS Foundation Trust in the UK since 2014 and
was previously a Non-Executive Director of VTTI Energy Partners LP from 2014
to 2017.

 

A global search process for the appointment of South Harz's next CEO is
underway. Upon that appointment, it is expected that Mr Farmer will step back
from executive duties and resume the role of Non-Executive Chairman.

 

Alongside this process, the Company plans to establish its key operational
management and personnel hub in Thuringia, Germany. This will place the core
operational team in the South Harz region as the business seeks to rapidly
advance its world-class potash assets through development and into production.

 

South Harz confirms that its current project activities remain on schedule.
Drilling of the second confirmatory drillhole (OHM-01) within the Ohmgebirge
Mining Licence (Ohmgebirge) area of the South Harz Potash Project is
completed, and assay results are expected during June (see SHP ASX release
dated 17 May 2022, Completion of Confirmation Drilling at Ohmgebirge).

 

Comprehensive results from the two confirmatory drillholes are targeted to
allow South Harz to upgrade a substantial proportion of the current Ohmgebirge
JORC (2012) Inferred Mineral Resource estimate to the Indicated category.
Subject to concurrent and satisfactory advancement of all modifying factors,
this is expected to allow the release of a comprehensive Scoping Study for
Ohmgebirge, which is expected to be completed in early Q3 2022.

 

South Harz Chairman, Mr Ian Farmer, commented:

"I am pleased to assume the role of Executive Chairman to facilitate the
current senior leadership transition. South Harz is moving through an exciting
phase with the recent completion of the Ohmgebirge confirmatory drilling,
coupled with the scheduled resource update and then Scoping Study completion.
I look forward to actively driving the business through this phase as we
rapidly progress our South Harz Potash assets through development and into
production."

"On behalf of the Board and all shareholders, I would like to thank Chris for
his commitment and dedicated service to South Harz over the past 4 years. We
wish him well in both his future professional and personal endeavours."

In accordance with ASX Listing Rule 3.16.4, the key terms of the appointment of Mr Farmer as Acting Executive Chairman are set out below.

Commencement

Mr Farmer was appointed effective from 20 May 2022.

Position

Mr Farmer is appointed Acting Executive Chairman.

Term

The term of appointment is yet to be determined.

Remuneration

Mr Farmer is to be paid a monthly fee of $19,250. Mr Farmer will continue to
receive director fees of $6,250 per month.

Termination

Mr Farmer  may resign by giving the Company one month's written notice. The
Company may terminate Mr Farmer's employment by giving one month's written
notice.

 

 

On behalf of South Harz Potash Limited,

Mr Ian Farmer, Chairman

 
The full announcement including photographs can be found at:
https://southharzpotash.com/investors/asx-announcements/ (https://southharzpotash.com/investors/asx-announcements/)

 
Investor & Media Enquiries
 
 Mr Ian Farmer                 Andrew Edge                                                        Justine James

 Chairman                      Fivemark Partners                                                  Alma PR

 South Harz Potash Ltd         +61 410 276 744                                                    +44 20 3405 0205

 +44 7748 642 409              andrew.edge@fivemark.com.au (mailto:andrew.edge@fivemark.com.au)   shp@almapr.co.uk (mailto:shp@almapr.co.uk)

 
 
 ifarmer@southharzpotash.com

 

 

 

 

About South Harz
South Harz Potash (ASX: SHP) (South Harz) is a potash exploration and development company with its flagship project located in the South Harz Potash District region of Germany, midway between Frankfurt and Berlin.
The South Harz Project hosts a globally large-scale potash JORC (2012) Inferred Mineral Resource estimate of 5.3 billion tonnes at 10.8% K(2)O across four wholly owned project areas(1) located favourably within central Europe. This comprises three perpetual potash mining licences, Ohmgebirge, Ebeleben and Mühlhausen-Nohra, and two potash exploration licences, Küllstedt and Gräfentonna, covering a total area of approximately 659km².
With strong established infrastructure and close proximity to the key European market, the South Harz Project is well positioned to enable rapid development across multiple deposits.
South Harz Potash: Growing a responsible potash business in the heart of Germany

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

 
 
 
1.  Refer to South Harz ASX announcement dated 23 December 2019 for full Mineral Resource estimate details. In accordance with ASX Listing Rule 5.23, the Company is not aware of any new information or data that materially affects the information included in this announcement.
 
 

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