REG - Tungsten West PLC - Appointment of Chief Financial Officer

Tungsten WestAnnouncement

10/11/2023 07:15

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RNS Number : 0209T  Tungsten West PLC  10 November 2023

10 November 2023

Tungsten West Plc

 

("Tungsten West", the "Company" or the "Group")

 

Appointment of Chief Financial Officer

 

Tungsten West (LON:TUN), the mining company focused on restarting production
at the Hemerdon tungsten and tin mine ("Hemerdon" or the "Project") in Devon,
UK, is pleased to announce the appointment of Mr. Alistair Stobie as the
Company's Chief Financial Officer ("CFO") effective Monday 13 November 2023.

Mr. Stobie has a strong track record of leading the finance function of
AIM-listed businesses within the energy and natural resources sector.
Throughout his career, he has combined his strategic and operational skills to
a high level while working and fundraising significant capital within various
markets.

Mr. Stobie was previously CFO at Hurricane Energy, which raised c.$700 million
to fund drilling campaigns and an Early Production System during his tenure.
In this role, he built the finance, legal, commercial, and investor relations
teams, which all reported to him. He also introduced new systems and
processes, modernising and driving efficiencies across business operations.
Following this role, he held the position of CFO at Octavia Energy, an
international oil and gas business operating in North Africa and the Middle
East.

Earlier in his career, Mr. Stobie was Finance Director at Zoltav Resources,
where he sourced and acquired two assets for $230 million total capital,
including a $180 million gas production business, and was able to fundraise
$40 million in capital and $80 million in debt refinancing. He was also a
Founding Partner of Baring Vostok Capital Partners in Moscow, Russia and
worked for a number of venture capital and private equity firms overseeing
significant oil and gas technology and telecoms portfolios.

Mr. Stobie has a bachelor's degree in International Relations from Keele
University and, following this, spent a number of years working for the
British Army.

 

David Cather, Chairman of Tungsten West, commented: "On behalf of the Board, I
am delighted to welcome Alistair to the Company. His extensive experience in
fundraising and debt refinancing will play a pivotal role as we look to
continue towards the recommencement of operations at Hemerdon."

 

Alistair Stobie, incoming CFO of Tungsten West, commented: "I am excited to be
joining Tungsten West at this important stage of progressing Hemerdon towards
production. With tungsten and tin marked as critical minerals by UK and
European governments, extra emphasis has been placed on the value of globally
significant deposits, including Hemerdon, to supply the minerals essential for
future and green technologies."

 

 

Ends

 

For further information, please contact:

 

Enquiries

 Tungsten West                               Strand Hanson

 Neil Gawthorpe                              (Nominated Adviser and Financial Adviser)

 Tel: +44 (0) 1752 278500                    James Spinney / James Dance / Abigail Wennington

                                             Tel: +44 (0) 207 409 3494
 BlytheRay                                   VSA Capital Limited

 (Financial PR)                              (Financial Adviser and Joint Broker)

 Tim Blythe / Megan Ray                      Andrew Raca / Andrew Monk

 Tel: +44(0) 20 7138 3204                    Tel: +44 (0)20 3005 5000

 Email:  tungstenwest@blytheray.com

 Hannam & Partners

 (Joint Broker)

 Andrew Chubb / Matt Hasson / Jay Ashfield

 Tel: +44 (0)20 7907 8500

 

Follow us on twitter @TungstenWest

 

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