27 March 2024
Future Metals
NL
Board and Management
Changes
Future Metals NL ("Future Metals" or the "Company", ASX|AIM: FME) is pleased to announce
strategic Board changes in line with the continued development of
the Panton PGM-Ni-Cr Project ("Panton" or the "Project") and overall growth of the
Company.
Mr Jardee Kininmonth has resigned as
a Director of the Company with immediate effect but has agreed to
continue to assist with his current duties as CEO, as required, for
a transition period until 31 May 2024. Mr Sam Rodda joins the
Company as Non-Executive Director, effective
immediately.
Jardee has played a critical role in
directing the Company's overall strategy and demonstrating the
significant value of the Panton Project. This is highlighted by the
successful delivery of the upgraded JORC 2012 Mineral Resource
Estimate ("MRE"), the
subsequent delivery of the Panton Scoping Study, and significantly
expanding the Company's strategic exploration position in a highly
prospective region.
Panton is now well positioned to
capitalise on the next upswing in PGM prices, with a high-grade
resource of 37.2Mt at 3.3g/t PdEq for 3.9Moz and Scoping Study
demonstrating the potential for a long-life, globally significant
PGM operation. The Scoping Study was built upon >A$50m
investment into Panton including the prior feasibility studies,
~45,000m drilling and the decline access to orebody &
comprehensive bulk metallurgical test work.
Sam Rodda's appointment to the Board
of Future Metals provides additional capacity and competence in the
planned development of future operations at Panton. Sam has broad
experience within technical and commercial roles within the mining
industry. Notably, Sam was previously Managing Director of the ASX
listed PGM developer Podium Minerals Limited. Sam has also held
significant operational roles at number of large underground and
open pit mining operations in Australia and internationally,
including at MMG limited, where he held the position of General
Manager Operations and Technical Excellence. Sam has also held
senior roles within WMC and BHP Billiton.
Future Metals Executive Chairman Mr
Patrick Walta said the Board changes complement the Company's
continued progression of Panton toward operations, and now is the
right time to appoint the team who will lead Future Metals through
the final feasibility stages in order to be production ready during
the next PGM price upswing.
Patrick commented further,
saying:
"On behalf of the Board, I would like to thank Jardee for the
exceptional job he has done in leading the substantial de-risking
and improved positioning of the Panton Project, providing a solid
foundation for taking the Project forward. Panton is now
established as the highest grade PGM resource in western world and
one of a few deposits which is sufficiently advanced to be capable
of bringing into production in the near term.
"In addition, the appointment of Sam adds extensive experience
to the Board on both operational and commercial fronts, and his
skills set is perfectly positioned to contribute to the next
chapter in the evolution of both Panton and Future
Metals."
AIM Rules for Companies, Schedule
2(g) Disclosures for Mr Sam Rodda
As required by Schedule 2(g) of the
AIM Rules for Companies, the Company confirms that Sam Thomas
Rodda, aged 45, is currently a director/partner, or has been a
director/partner in the past five years, of the companies listed
below:
Current
Directorships/Partnerships
|
Past Directorships/Partnerships (in
the last five years)
|
Rodski Pty Ltd
|
Podium Minerals Limited
|
Sala Consulting Pty Ltd
|
MMG Dugald River Pty Ltd
|
Mr Rodda holds 333,333 ordinary
shares of no par value in the Company ("Ordinary Shares") and options over
166,667 Ordinary Shares, with an exercise price of A$0.10
each.
There is no further information to
be disclosed pursuant to Schedule 2(g) of the AIM Rules for
Companies.
For further information, please contact:
Future Metals NL
|
+61 8 9480 0414
|
Patrick Walta
|
info@future-metals.com.au
|
Strand Hanson Limited (Nominated Adviser)
|
+44 (0) 207 409 3494
|
James Harris/James
Bellman
|
|
The information contained within
this announcement is deemed by the Company to constitute inside
information as stipulated under the Market Abuse Regulation (EU)
No. 596/2014 as is forms part of United Kingdom domestic law
pursuant to the European Union (Withdrawal) Act 2018, as amended by
virtue of the Market Abuse (Amendment) (EU Exit) Regulations
2019.