REG - Tungsten West PLC - Appointment of Non-Executive Directors

Tungsten WestAnnouncement

04/09/2023 10:30

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RNS Number : 2843L  Tungsten West PLC  04 September 2023

4 September 2023

Tungsten West Plc

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

 

Appointment of Non-Executive Directors

 

 

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 Guy Edwards, Adrian Bougourd,
and Kevin Ross, who will join the Company as Non-Executive Directors with
immediate effect.

 

Mr. Edwards, who is a fellow of the Institute of Quarrying and has a
first-class honours degree in Quarry Engineering, has significant experience
within the aggregates industry, previously holding CEO positions at Aggregate
Industries UK and Aggregate Industries USA, which had a combined turnover in
excess of £1 billion. Additionally, he was Managing Director of Midland
Quarry Products and has 25 years of senior management experience with Hanson
PLC. Mr. Edwards has participated in numerous acquisitions and has extensive
experience in aggregates business development. He is currently Integration
Director of AIM-listed SigmaRoc PLC and co-founder of sustainability startup
company XEROC Ltd.

 

Mr. Bougourd is part of the Developed Markets team at Lansdowne Partners (UK)
LLP, having joined in November 2010. He has previously worked as a European
equity, credit and event driven analyst at Perry Capital. Mr. Bougourd is an
experienced senior financial analyst who has spent 20 years analysing and
advising companies in the industrial and cyclical space across the globe. Mr.
Bougourd's experience in capital markets, including in-sourcing and analysing
public and private European investment opportunities across industries and the
capital structure, will be of significant value to the Board.

 

Mr. Ross is a European Engineer (Eur Ing) with an honours degree in Mining
Engineering from the Royal School of Mines. Across the last 24 years, he has
held numerous COO roles for operating and development companies in Greece,
Australia and Canada. He has been part of the senior management teams of two
acquired companies, Red Back Mining, which was acquired by Kinross, and Orca
Gold, which was acquired by Perseus Mining, and is currently the COO of
Montage Gold Corp, which is developing a large-scale gold project in Cote
d'Ivoire.

 

 

David Cather, Chairman, commented: "We are pleased to welcome Guy, Adrian and
Kevin to the Board. Their wide range of expertise across the aggregates and
mining industries, capital markets, financing, and company and project
development will add further value, guidance and support to the Tungsten West
team as it continues to progress Hemerdon towards production. The Company
remains focused on working towards the final permit approvals for the
Project."

 

 

 

AIM Rules for Companies, Schedule 2(g) Disclosures

 

 

Guy Charles Edwards

 

As required by Schedule 2(g) of the AIM Rules for Companies, the Company
confirms that Mr Guy Edwards, aged 57, currently holds or has held the
following directorships and partnerships in the last five years:

 

 Current Directorships            Past Directorships (in the last five years)
 XEROC Ltd                        Mineral Products Association Limited
 Guy Edwards Consultancy Limited  Aggregate Industries South West Limited
                                  Lafarge Cauldon Limited
                                  Aggregate Industries UK Limited
                                  Aggregate Industries Limited
                                  Foster Yeoman Limited

 

Mr Edwards does not hold any ordinary shares or options in the Company.

 

Adrian Richard Bougourd

 

As required by Schedule 2(g) of the AIM Rules for Companies, the Company
confirms that Mr Adrian Bougourd, aged 41, currently holds or has held the
following directorships and partnerships in the last five years:

 

 Current Directorships  Past Directorships (in the last five years)
 None                   None

 

Mr Bougourd does not hold any ordinary shares or options in the Company. He is
the appointed representative of Lansdowne Partners (UK) LLP, which controls,
on behalf of its clients, 9.41% of the Company, and whose clients have a
further interest in the Company via a CLN announced on 3 April 2023.

 

 

Kevin John Ross

 

As required by Schedule 2(g) of the AIM Rules for Companies, the Company
confirms that Mr Kevin Ross, aged 69, currently holds or has held the
following directorships and partnerships in the last five years:

 

 Current Directorships              Past Directorships (in the last five years)
 33 RYC Management Company Limited  Great Panther Mining Limited
                                    Montage Gold Corp

 

Mr Ross does not hold any ordinary shares or options in the Company.

 

Mr Ross was a director of Great Panther Mining Limited until August 2022
before it filed an intention for bankruptcy in September 2022. The shortfall
to creditors to creditors is not yet known but is expected to be c. C$ 50
million.

 

Other than as provided in this announcement, no other disclosures in relation
to Mr Adrian Bougourd, Mr Guy Edwards or Mr Kevin Ross are required under Rule
17 and schedule 2 (g) of the AIM Rules for Companies.

 

 

This announcement contains inside information for the purposes of Article 7 of
Regulation 596/2014 as amended by the Market Abuse (Amendment) (EU Exit)
Regulations 2019.

 

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 (mailto: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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