RNS Number : 8042I
Capital Metals PLC
02 April 2024
 

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

 

 

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