Appointment of Technical Manager

RNS Number : 6732I

Capital Metals PLC

16 August 2021

 

16 August 2021

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED.  ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Capital Metals plc

("CMET" or the "Company")

Appointment of Technical Manager

Capital Metals plc (AIM:CMET), a natural resources company focused on the development of the Eastern Minerals Project in Sri Lanka ("the Project"), one of the highest-grade mineral sands' projects globally, is pleased to announce the appointment of Richard Stockwell as Technical Manager .

Richard Stockwell is a seasoned technical mining expert having worked in the minerals sands industry for over 20 years. His expertise covers mineral exploration, resource development and mine planning.

Richard will be a key part of the Company's senior management team and his initial duties include overseeing the following:

i)  Development Study which will provide an updated understanding of the technical scope and economics of the Project prior to its full commercial development.

ii)  Project Exploration Strategy with the aim to increase the overall resource and target high value areas.

Richard spent over 13 years with ASX-listed Iluka Resources Limited, one of the world's largest mineral sands companies, based in Perth, Western Australia. At Iluka, Richard held a variety of roles and was a responsible Competent Person (CP) under the JORC reporting guidelines, for reporting of mineral resources for much of this time. Prior to commencement as an independent consultant, Richard's role at Iluka was Manager Exploration, Western Australia. The role included a number of technical and innovative exploration studies of particular relevance to CMET's longer-term strategy.

In 2013, Richard commenced his own consultancy business within the mineral sands sector acting in mentoring, management and CP roles for a number of global ASX-listed and private minerals sands companies.

Michael Frayne, CEO, commented:

"We are very pleased to welcome Richard Stockwell to Capital Metals. Richard has a wealth of experience in the mineral sands industry and is a strong addition to our senior management team. 

His guidance in mineral exploration, resource development and mine planning will be invaluable as the Company finalises the environmental and licensing permits for the Project and moves towards development and production."

Richard has been engaged through his consulting company, Placer Consulting Pty Ltd ("Placer"), with a meaningful incentive linked to project milestones, in order to align interests with shareholders.

Placer will be issued 1,500,000 options exercisable at 12p, valid for 4 years with the following vesting milestones:

  500,000 after 3 months' engagement

  500,000 options after 25% tonnage increase of current resource

  500,000 options after first production

For further information, please visit www.capitalmetals.com or contact:  

Capital Metals plc Michael Frayne (CEO)	[phone]
SPARK Advisory Partners (Nominated Adviser) Neil Baldwin / James Keeshan	[phone]
WH Ireland Limited (Joint Broker) Harry Ansell / Katy Mitchell	[phone]
Brandon Hill Capital Limited (Broker) Jonathan Evans/Oliver Stansfield	[phone]

 

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