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.
2 April 2024
Capital Metals
PLC
("Capital
Metals" or the "Company")
Directorate
Change
Capital Metals (AIM: CMET), a
mineral sands company approaching mine development stage at the
high-grade Eastern Minerals Project in Sri Lanka (the "Project"),
is pleased to announce the appointment of Bruce Griffin as a
Non-Executive Director, with immediate effect.
Mr Griffin has been appointed
further to the notification of 15 March 2024 in respect of the
strategic acquisition by Sheffield Resources Limited (ASX: SFX)
("Sheffield") of approximately a 10% stake in the Company. Mr
Griffin is a nominee director of Sheffield.
Mr Griffin is an experienced
resources industry professional with a significant background
within mineral sands. He is currently Executive Chair of Sheffield,
the 50% owner of the recently commissioned A$484 million
Thunderbird mineral sands mine in Western Australia. Mr Griffin is
also a Non-Executive Director of Savannah Resources PLC (AIM: SAV),
CVW CleanTech Inc (TSX: CVW) and Mawson Gold Limited (TSX: MAW). He
has previously held several Chief Executive and senior management
roles with mineral sands and titanium dioxide pigment companies,
including at LB Group, TZ Minerals International (TZMI), and BHP.
Other prior roles include executive, commercial, strategy and
management consulting positions and a nine-year career with Shell.
Mr Griffin holds undergraduate degrees in chemical engineering and
economics, as well as a Master of Business Administration. He has
previously acted as a consultant to Capital Metals through Fairview
Solutions Limited.
Greg Martyr, Executive Chairman of Capital Metals,
commented:
"We are delighted to welcome Bruce to the Board following
Sheffield's strategic investment in the Company and interest in
providing funding to support the development of the Project into
production. Bruce is well respected throughout the global mineral
sands industry and recently played a key role in bringing
Thunderbird, one of the largest and highest-grade mineral sands
discoveries in the last 30 years, into production in Western
Australia. This, coupled with his decades of experience within
mineral sands and the wider resources industries, will be valuable
to Capital Metals as we plan for mine construction, and introduce
modern mining practices to Sri Lanka's developing mineral sands
sector."
For further
information, please visit
www.capitalmetals.com
or contact:
|
Capital Metals plc
Greg Martyr (Executive
Chairman)
|
Via Vigo Consulting
|
|
Vigo Consulting (Investor Relations)
Ben Simons / Peter Jacob
|
+44 (0)20 7390 0234
capitalmetals@vigoconsulting.com
|
|
SPARK Advisory Partners (Nominated Adviser)
Neil Baldwin / James Keeshan / Adam
Dawes
|
+44 (0)20 3368 3550
|
|
Tavira Financial
Jonathan Evans / Oliver
Stansfield
|
+44 (0)20 7100 5100
|
Further information
Bruce John Griffin (aged 55) holds or
has held the following directorships or partnerships in the past
five years:
|
Current Directorships / Partnerships
|
Former Directorships / Partnerships within the last 5
years
|
|
CVW CleanTech Inc.
Sheffield Resources Ltd
Mawson Gold Ltd
Savannah Resources PLC
Fairview Solutions Limited
|
None
|
Mr Griffin holds 800,000 ordinary
shares in the Company via Fairview Solutions Limited. Sheffield
Resources Limited, for whom Mr Griffin acts as nominee director,
holds 34,500,000 ordinary shares in the Company.
There is no further information to be
disclosed pursuant to paragraph (g) of Schedule 2 of the AIM
Rules.
About Capital Metals
Capital Metals is a UK company
listed on the London Stock Exchange (AIM: CMET). We are developing
the Eastern Minerals Project in Sri Lanka, approximately 220km east
of Colombo, containing industrial minerals including ilmenite,
rutile, zircon, and garnet. The Project is one of the highest-grade
mineral sands projects globally, with potential for further grade
and resource expansion. In 2022, a third-party Preliminary Economic
Assessment provided a Project NPV of US$155-235m based on existing
resources, with further identified optimisation potential. We are
committed to applying modern mining practices and bringing
significant positive benefits to Sri Lanka and the local community.
We expect over 300 direct new jobs to be created and over US$130m
in direct government royalties and taxes to be paid.
Visit our website:
www.capitalmetals.com
Follow us on social
media:
X (formerly Twitter):
@MetalsCapital
LinkedIn: @Capital Metals
plc