REG - Tungsten West PLC - Board Changes

Tungsten WestAnnouncement

28/11/2022 07:00

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RNS Number : 6987H  Tungsten West PLC  28 November 2022

28 November 2022

Tungsten West Plc

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

 

Board Changes

 

Tungsten West, the mining company focussed on restarting production at the
Hemerdon tungsten and tin mine ("Hemerdon" or the "Project") in Devon in the
UK, announces that the Company's Chairman, Robert Ashley, has taken the
decision to retire and therefore will be stepping down from his position on
the Board with immediate effect. The Board thanks Rob for his all his efforts
and hard work since joining the Company in September 2021, including steering
the Company through a successful IPO, and wish him all the best in his
retirement.

 

The Company is pleased to announce that David Cather, Senior Independent
Non-Executive Director, will become Chairman of the Board. David joined the
Company in September 2021 and was previously, the CEO of Abu Dhabi Capital
Group, a private institutional investment house located in the United Arab
Emirates, and before that CEO of Avocet Mining plc, a gold production company
operating in Burkina Faso.

 

Additionally, Martin Wood has been appointed to the Board and will assume the
role of Senior Non-Executive Director. Martin is the Managing Director and
founder of Vicarage Capital Limited, a full-service brokerage house for junior
and mid cap resource companies. He is also Non-Executive Chairman of Altona
Rare Earths Limited where working closely with the CEO he aided the
negotiations of the acquisition of rare earths development assets in
Mozambique and Malawi. Martin's experience in debt and equity markets and the
development of resource assets will be of great value to the Company as it
restarts Hemerdon. His former directorships include ASX listed Kogi Iron Ltd
and JSE listed Arden Capital Limited.

 

Mark Thompson, Executive Vice Chairman of Tungsten West, commented: "On behalf
of the Board and the Company, I would like to thank Rob for his considerable
efforts in our journey to restarting Hemerdon, which continues to advance. We
wish him all the best in his retirement.

 

"Whilst David has been a part of the Company since September 2021, we are
delighted that he has taken up the mantle of Chairman where he will continue
to utilise his experience in mine development.

 

"It is also a pleasure to welcome Martin to Tungsten West, having his
experience on the Board further strengthens the team, as we continue to
progress towards our production goals."

 

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.

AIM Rules for Companies, Schedule 2(g) Disclosures

As required by Schedule 2(g) of the AIM Rules for Companies, the Company
confirms that Martin John Wood, aged 53, is currently a director/partner, or
has been a director/partner in the past five years, of the companies listed
below:

 Current Directorships         Past Directorships (in the last five years)
 Altona Rare Earths Limited    Arden Capital Limited
 Hurdwick Golf Course Limited  Anromal Gold Limited
 Lamorna African Gold Limited  Kogi Iron Limited
 Royal Helium Ltd.             LHC Mine Finance LTD
 Vicarage Capital Limited      New Leaf Advisory Limited

 

Mr Wood has no direct interest in the Company's issued share capital.

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

 

 Enquiries

 Tungsten West                                                              Strand Hanson

 Mark Thompson                                                              (Nominated Adviser and Financial Adviser)

 Tel: +44 (0) 203 178 7385                                                  James Spinney / James Dance / Abigail Wennington

                                                                            Tel: +44 (0) 207 409 3494
 BlytheRay                                                                  Hannam & Partners

 (Financial PR)                                                             (Joint Broker)

 Tim Blythe / Megan Ray / Said Izagaren                                     Andrew Chubb / Matt Hasson / Jay Ashfield

 Tel: +44(0) 20 7138 3204                                                   +44 (0)20 7907 8500

 Email:  tungstenwest@blytheray.com (mailto:tungstenwest@blytheray.com)

                                                                            VSA Capital Group plc

                                                                            (Joint Broker)

                                                                            Andrew Raca / Andrew Monk

                                                                            +44 (0)20 3005 5000

Follow us on twitter @TungstenWest

 

 

 

Ends

 

 

 

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