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#SVML Sovereign Metals – Key Mgmt Appointments for Development at Kasiya
Highlights
· Appointment of experienced African based mining executive, Mr Frank Eagar, as the new Managing Director and CEO
· Existing Managing Director Dr Julian Stephens to transition to Non-Executive Director
· Key technical appointments of experienced African engineering, social and environmental teams to work on project optimisation and advancing the development of the Kasiya Project
· Management changes bring a strong track record of successful large-scale project development in southern Africa
Sovereign Metals Limited (ASX:SVM; AIM:SVML) (the Company or Sovereign) is pleased to announce the appointment of Mr Frank Eagar as Managing Director and Chief Executive Officer (CEO), effective from 20 October 2023.
Mr Eagar has over 20 years’ experience in the financing, permitting, development and operation of mining projects with a strong focus in southern Africa.
Mr Eagar is a Chartered Accountant who has gained extensive corporate, commercial and technical experience in the mining sector throughout his career. Mr Eagar has previously held a number of senior executive positions in the resources sector, more recently with African mining focused private equity firm AMED Funds, which included acting as Chief Financial Officer (CFO) for AMED’s controlled company, Central Copper Resources PLC (Central Copper).
Prior to Central Copper, Mr Eagar was the CEO (and prior to that the CFO) of Baobab Steel Limited (Baobab) another AMED controlled company, where he managed the completion of a Definitive Feasibility Study (DFS) and a joint venture with the World Bank’s IFC to procure strategic investors and raise project finance for Baobab’s US$1 Billion, fully permitted, integrated 500ktpa Steel and Vanadium Project in Mozambique.
Mr Eagar joined Sovereign in December 2022 as General Manager in Malawi, where he has already expanded the team with a focus on Malawian nationals, developed strong relationships with Government and demonstrated a clear understanding of the Kasiya Project and its development landscape.
Sovereign has also made several key technical appointments as the Company transitions into project optimisation and development of the Kasiya Project and is poised to become a significant supplier of natural rutile and graphite. These key appointments bring a strong track record of successful large-scale project development and operations management, as well as extensive experience in southern Africa.
These management changes come at an important time for the Company as it transitions from the Pre-Feasibility Study (PFS) into the next phase of project optimisation, community and stakeholder engagements and ultimately the completion of a DFS.
Effective from 20 October 2023 current Managing Director, Dr Julian Stephens, will transition to a Non-Executive Director of Sovereign, remaining as a consultant assisting and supporting the incoming technical and management team.
Dr Stephens has been Managing Director of Sovereign since June 2016 and has been instrumental in the Company’s growth and development. He first identified rutile mineralisation in Malawi and then led the team that discovered Sovereign’s world-class Kasiya rutile-graphite deposit.
The Board would like to take this opportunity to thank Dr Stephens for his significant contribution to the Company and look forward to his continual involvement with Sovereign as the Company continues the development of the Kasiya Project.
Dr Julian Stephens commented: “It has been a privilege to lead Sovereign through the discovery and early study phases and it is now a logical time for leadership transition as the Company continues through the next phases of development. I am extremely proud of the significant achievements our team has accomplished during my time. With the appointment of Frank as MD and CEO, plus the technical team enhancements, I am confident that the Company is in very good hands and in a strong position to establish itself as a globally significant supplier of natural rutile and graphite.”
Incoming Managing Director, Mr Frank Eagar commented: “Securing Rio Tinto as a strategic investor alongside the completion of the high-quality PFS, provides the foundation for what will be an extremely exciting time in the Company’s development story. I am very honoured and look forward to taking on my new role as MD and CEO. The Kasiya Project is multi-generational, has the potential to deliver a valuable, long-term source of low-CO2 critical minerals and generate substantial economic and socio-economic returns.”
Sovereign’s Chairman Ben Stoikovich commented: “Today’s management changes and appointments mark a pivotal step for the Company as it lays the foundation for project optimisation and development. With Rio Tinto’s investment and the release of a world-class PFS, the Company is entering an exciting new phase. I would like to thank outgoing MD, Julian Stephens, who has done a tremendous job in the discovery of Kasiya, a truly once-in-generation deposit, and growing Sovereign to where it is today. The Company is looking forward, in collaboration with Rio Tinto, to conducting the optimisation review, progressing to the Definitive Feasibility Study and delivering the significant potential of Kasiya to all stakeholders.”
Details of Mr Eagar’s remuneration are included in Appendix A.
ENQUIRIES
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Dr Julian Stephens (Perth) +61(8) 9322 6322 |
Sam Cordin (Perth) |
Sapan Ghai (London) |
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SP Angel Corporate Finance LLP |
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Matthew Armitt |
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Jennifer Lee |
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Tavistock PR |
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Alpha Prospects – MSAART Plasmoid Technology investment opportunity
Alan Green talks to Alpha Prospects CEO Christopher Foster and Strike Energy President Gavin Houghton.
Alpha Prospects Ltd is an energy investment holding company with a flagship 15% shareholding in Strike Energy along with a 10% shareholding in Strike Foundation. Both are US companies which hold the license for the revolutionary Molten Sea Ark Atomic Reconstruction Technology (MSAART) invented by Malcolm Bendall. Christopher provides a brief overview of Alpha Prospects and MSAART technology principals and applications and how it harnesses the power of Plasmoids, a coherent structure of plasma and magnetic fields, found naturally in thunder storms and ball lightening. We then look at a brief video clip of Malcolm and his team successfully testing the technology, after which Gavin summarises the nebulous range of potential applications for MSAART plasmoid technology. An independent investment note was recently prepared and release by Equity Research Associates, and this is summarised by Christopher.
Blencowe Resources #BRES – CEO Video Interview
Blencowe Resources (BRES:LON), is pleased to share a recent interview with CEO Mike Ralston on the Proactive Investors platform.
Within this video interview, Blencowe CEO Mike Ralston provides further detail relating to the recently announced positive metallurgical test work results from Orom-Cross by the leading Chinese graphite technical specialist laboratory (based at Wuhan University) where open cycle floatation tests produced recoveries between 92-94% (previously 90%) and concentrate grades consistently ranging between 95-98% for all graphite mesh sizes.
In the interview, Mr. Ralston also updates on progress with securing a $5 million grant from the US International Development Finance Corporation (“DFC”).
Click on the link below to watch: https://www.youtube.com/watch?v=tgdVG1lvlZM&ab_channel=ProactiveInvestors
Interested investors can also sign up to the Blencowe Newsletter at the following link:
https://blencoweresourcesplc.us13.list-manage.com/subscribe?u=ba87c801d05702dc7b8d75a3b&id=bd90aec04f
For further information, please contact:
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Blencowe Resources Plc
Sam Quinn (London Director)
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+44 (0)1624 681 250 info@blencoweresourcesplc.com
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Investor Enquiries Sasha Sethi
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Tel: +44 (0) 7891 677 441 sasha@flowcomms.com
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Tavira Financial Jonathan Evans
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Tel: +44 (0)20 7100 5100 jonathan.evans@tavira.group |
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First Equity Limited Jason Robertson |
Tel: +44 (0)20 7330 1883 jasonrobertson@firstequitylimited.com |
Twitter: https://twitter.com/BlencoweRes
LinkedIn: https://www.linkedin.com/company/blencowe-resources/
Seed Capital Solutions #SCSP – Board Changes
Seed Capital Solutions plc (LON: SCSP), a Company formed for the purpose of acquiring a business or businesses operating in market sectors that can display strong ESG credentials, is pleased to announce the appointment of Segar Karupiah (“Segar”) as Chief Financial Officer (“CFO”).
Segar Karupiah, aged 64 has over 35 years of experience in financial and accountancy roles, and latterly senior PLC executive roles. After joining the Institute of Chartered Accountants in 1986, Segar held accountancy roles at Automotive & Financial Group Plc and Caledonia Motor Group Plc during the 1990’s. In the early noughties, Segar held operational roles at Lookers Southern Plc, and took up directorship roles at Mobile Gaming Solutions Plc and Danmar Management Ltd, where he remains to this day. Segar will take up his position with immediate effect.
CEO John Zorbas commented: “I pleased to welcome Segar as our new CFO at Seed Capital Solutions. Creating sustainable solutions to societal problems represents a key challenge for every company and every board of directors in today’s corporate world, and this is a factor that investors have become increasingly aware of. I look forward to working with Segar and our Board to identify the very best ESG investment opportunities.”
MARKET ABUSE REGULATIONS (EU) No. 596/2014
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR). Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.
FOR FURTHER INFORMATION, PLEASE CONTACT:
| Seed Capital Solutions plc | Tel: +44 (0)1535 647 479 | |||
| Chairman Damion Greef
Brand Communications |
Tel: +44 (0) 7976 431608 |
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| Alan Green
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ABOUT SEED CAPITAL SOLUTIONS PLC
Seed Capital Solutions Plc (LON: SCSP) has been formed for the purpose of acquiring a business or businesses operating in market sectors that can display strong ESG credentials, thereby benefitting from the current trend of superior performance and increased investor appetite.
ECR Minerals playing the big game – Andrew Scott talks to Andrew Haythorpe and Adam Jones
In a new June 2023 ‘on the ground’ interview, Andrew Scott talks to Andrew Haythorpe and Adam Jones about the exploration programme. Adam covers his schedule, boots on the ground at Hurricane (5-7 days) meeting the previous owner, and he will then be at Lolworth for the rest of June taking rock chips and sampling where the tantalum & niobium and rare earths were discovered last year. Andrew Haythorpe talks about the bigger picture for Lolworth in the back yard of Charters Towers, Pajingo etc, looks at the 1980s results, how the area is so unexplored and why the results, size and scale of the area offers so much potential. Both believe that very little would be needed to put the Lolworth discoveries on the scale of Charters Towers, given the 10km ridgeline, the specific area of interest 3.5 x 4km (12-20sq km), but there is also an overlap in the SE of the tenement with the same geology, which is totally untested, which could be 3x the size of the current ridgeline. Adam and Andrew then discuss the planning for Hurricane, putting in access tracks to the breccia veins with bulldozers and an initial RC drilling plan. Andrew explains how the current private landowners have been unable to exploit the asset, and how ECR are the first company with significant resources to get on the ground there.
Moving to Creswick, Adam touches on the underwhelming initial results, but points to the fact there is a 10k trend that remains to be tested, and the reasons why ECR has to work smarter. Adam looks at the geology of nearby Ballarat compared to Creswick – similar structure, narrow vein, anticlines etc, with some 30 veins already identified along the 10k strike. In summary, Andrew highlights the work Adam and the team have done with soil geochemistry and sampling and how they are ‘ranking’ the prospects to get the biggest bang for the ECR buck. In summary, the ECR team are are here to find good grades. Lolworth has some ‘smoking’ mineralisation and Andrew believes at Hurricane will deliver at 20-40-60m below surface, in other words a classicAustralian open cut mining start up which gives ECR a chance to play the big game.
ECR Minerals #ECR – CEO Andrew Haythorpe discusses exploration progress at Queensland & Victoria
ECR CEO Andrew Haythorpe discusses the latest exploration progress at Victoria and the transition to Queensland. Andrew discusses the potential he sees at Lolworth, with 30 different gold occurrences plus niobium and tantalum already at such an early phase. He then looks at the Hurricane project, and how the gold in veins at surface are consistently 1-5m thick (one was 60m thick), which leads to a consistent 1-5 g/t at surface, and the most recent project acquisition, the Blue Mountain project where there is a lot of alluvial gold. Andrew then covers how low cost work programmes including geophysics and geochemistry, RC drilling keep the costs down and will identify the biggest and best anomalies. On funding, there are plans for further asset sales, and he confirms ECR are fully funded for all QLD and Victoria exploration this year. In summary, Andrew believes the chances of pinning down a major find in Queensland is much better. ECR has the right people and right geology, plus there could be some major players keen on partnering in Queensland.
ECR Minerals #ECR – CEO Andrew Haythorpe talks through Blue Mountain and other projects
ECR Minerals #ECR – CEO Andrew Haythorpe talks through Blue Mountain and other projects with Andrew Scott. The Blue Mountain project represents a wonderful opportunity in an accessible part of Queensland. With impressive recoveries there by previous operators, the project compliments other Queensland projects from a logistical. standpoint. Andrew also discusses Lolworth, and how the team are very keen to get back to discover the primary source for Nb Ta Li and Au before looking at the drill campaign at Creswick and the drill ready targets at Hurricane. Andrew the looks at his ongoing role as CEO and how ECR is a well funded company, although he reminds us that every overnight success takes a few years to generate!
ECR Minerals #ECR Interview – Creswick Results and 2023 Operating Plan
February 2023: Andrew Scott talks to Andrew Haythorpe and Adam Jones. The high grade results from Creswick are first on the agenda, and Adam discusses the un mined high grades discovered in the adits (tunnels) at ECR’s Brewery Lane property, and the grades from the rock chip sampling at Mills Reef on the new tenement 4km to the south. The rig will be moved to the Brewery Lane property and a diamond drilling will commence.
Andrew discusses how the core resampling last year and the results from sampling means the team can plan drill targets with real confidence – ” a real opportunity as soon as we can get the drill rig onsite”. He confirms that there have been no JV approaches or conversations yet.
Andrew then discusses Blue Moon – while the mineralised grades were lower than hoped, there are a couple more assays to come and a further hole left to complete.
Adam then discusses the lab used by ECR in Ballarat, which now turns samples around in 2-2.5 weeks, before turning to Tambo, where some initial data analysis is underway ahead of an initial field visit.
Andrew and Adam then discuss Lolworth, a potentially ‘world class’ discovery, where lithium, niobium and tantalum have been discovered along with an extraordinary amount of gold. The 10km ridgeline sits to the north of the lithium anomalies and represents a fantastic opportunity – potentially a company building asset.
Andrew then discussed the new Hurricane project awaiting completion of due diligence and approvals, and then talks through the imminent arrival of the 2nd drill rig and its likely deployment.
The team finally summarise the operating plan, possible asset disposals and the level of commitment across the company. The last word is from Andrew – “with 20yrs experience in the industry, ECR has the best portfolio of assets I have seen over that time”