Appointment of Chief Executive Officer ("CEO")

RNS Number : 8997V

Ironveld PLC

06 December 2019

 

IRONVELD PLC

("Ironveld" or the "Company")

Appointment of Chief Executive Officer ("CEO")

Ironveld is pleased to announce that Martin Eales is joining the Company as CEO and will be appointed to the Board of Directors from 16 December 2019. Dr Peter Cox will become Technical Director of the Company, focusing on technical matters relating to the future smelting operations and offtake partners.

Martin brings significant industry experience to the role, having held the position of CEO at London listed Rainbow Rare Earths Limited from 2014 to 2019, where he oversaw the development of the company into the only rare earths producer in Africa. Prior to that, Martin was a Managing Director at RBC Capital Markets with a strong track record advising natural resource companies on fundraisings and other corporate transactions.

Giles Clarke, Chairman, commented: "I am very pleased to welcome Martin to the Company and to the Board of Ironveld. His strong sector knowledge and experience supporting and leading companies to deliver their growth plans will be invaluable in guiding Ironveld through the next phase of its development. On behalf of the Board, I would like to thank Dr Peter Cox for his enormous contribution whilst CEO of Ironveld and look forward to working alongside him in his new role as Technical Director, with the Company continuing to benefit from his industry experience."

Commenting on his appointment, Martin Eales said: "I am delighted to be joining Ironveld at this exciting stage for the Company. I look forward to working alongside the team to drive forward the strategic direction of the business."

Further information in accordance with the AIM Rules

Martin Wentworth Eales (47) has the following current and previous directorships:

Current directorships and partnerships	Past directorships and partnerships
Barham Wentworth Limited	Rainbow Rare Earths Limited and subsidiaries

There are no further disclosures required under Schedule 2g of the AIM Rules

For further information, please contact:

Ironveld plc Giles Clarke, Chairman Martin Eales, Chief Executive		c/o Camarco [phone]
finnCap (Nominated Adviser) Christopher Raggett / Hannah Boros		[phone]
Camarco Gordon Poole / Kimberley Taylor / Thayson Pinedo		[phone]

Notes to Editors:

Ironveld (IRON.LN) is the owner of Mining Rights over approximately 28 kilometers of outcropping Bushveld magnetite with a SAMREC compliant ore resource of some 56 million tons of ore grading 1,12% V2O5 68,6% Fe2O3 and 14,7% TiO2.

The Definitive Feasibility Study published in April 2014 confirms the project's viability to deliver a Vanadium slag product for which the company has an offtake agreement as well a High Purity Iron product which commands a premium in the market place and Titanium slag containing commercial grades of titanium.

Ironveld is an AIM traded company. For further information on Ironveld please refer to www.ironveld.com.

 

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