28 November 2022
Tungsten West Plc
("Tungsten West", the "Company" or the "Group")
Board Changes
Tungsten West, the mining company focussed on restarting production at the Hemerdon tungsten and tin mine ("Hemerdon" or the "Project") in Devon in the UK, announces that the Company's Chairman, Robert Ashley, has taken the decision to retire and therefore will be stepping down from his position on the Board with immediate effect. The Board thanks Rob for his all his efforts and hard work since joining the Company in September 2021, including steering the Company through a successful IPO, and wish him all the best in his retirement.
The Company is pleased to announce that David Cather, Senior Independent Non-Executive Director, will become Chairman of the Board. David joined the Company in September 2021 and was previously, the CEO of Abu Dhabi Capital Group, a private institutional investment house located in the United Arab Emirates, and before that CEO of Avocet Mining plc, a gold production company operating in Burkina Faso.
Additionally, Martin Wood has been appointed to the Board and will assume the role of Senior Non-Executive Director. Martin is the Managing Director and founder of Vicarage Capital Limited, a full-service brokerage house for junior and mid cap resource companies. He is also Non-Executive Chairman of Altona Rare Earths Limited where working closely with the CEO he aided the negotiations of the acquisition of rare earths development assets in Mozambique and Malawi. Martin's experience in debt and equity markets and the development of resource assets will be of great value to the Company as it restarts Hemerdon. His former directorships include ASX listed Kogi Iron Ltd and JSE listed Arden Capital Limited.
Mark Thompson, Executive Vice Chairman of Tungsten West, commented: "On behalf of the Board and the Company, I would like to thank Rob for his considerable efforts in our journey to restarting Hemerdon, which continues to advance. We wish him all the best in his retirement.
"Whilst David has been a part of the Company since September 2021, we are delighted that he has taken up the mantle of Chairman where he will continue to utilise his experience in mine development.
"It is also a pleasure to welcome Martin to Tungsten West, having his experience on the Board further strengthens the team, as we continue to progress towards our production goals."
This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014 as amended by the Market Abuse (Amendment) (EU Exit) Regulations 2019.
AIM Rules for Companies, Schedule 2(g) Disclosures
As required by Schedule 2(g) of the AIM Rules for Companies, the Company confirms that Martin John Wood, aged 53, is currently a director/partner, or has been a director/partner in the past five years, of the companies listed below:
Current Directorships | Past Directorships (in the last five years) |
Altona Rare Earths Limited | Arden Capital Limited |
Hurdwick Golf Course Limited | Anromal Gold Limited |
Lamorna African Gold Limited | Kogi Iron Limited |
Royal Helium Ltd. | LHC Mine Finance LTD |
Vicarage Capital Limited | New Leaf Advisory Limited |
Mr Wood has no direct interest in the Company's issued share capital.
There is no further information to be disclosed pursuant to Schedule 2(g) of the AIM Rules for Companies.
Enquiries
Tungsten West Mark Thompson Tel: +44 (0) 203 178 7385
| Strand Hanson (Nominated Adviser and Financial Adviser) James Spinney / James Dance / Abigail Wennington Tel: +44 (0) 207 409 3494 |
BlytheRay (Financial PR) Tim Blythe / Megan Ray / Said Izagaren Tel: +44(0) 20 7138 3204 Email: tungstenwest@blytheray.com | Hannam & Partners (Joint Broker) Andrew Chubb / Matt Hasson / Jay Ashfield +44 (0)20 7907 8500
VSA Capital Group plc (Joint Broker) Andrew Raca / Andrew Monk +44 (0)20 3005 5000
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Ends
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