West Perth-based junior Meteoric Resources has announced the appointment of Stuart Gale as its managing director and chief executive, effective immediately.
West Perth-based junior Meteoric Resources has announced the appointment of Stuart Gale as its managing director and chief executive, effective immediately.
The change comes as outgoing CEO Nick Holthouse will transition into a new role, as the company pushes forward to bring its flagship Caldeira ionic rare earth project into first production by 2027.
Late last month, Meteoric told the market it had been included within a Brazil-based platform – a joint venture between the Brazilian government and Brazilian Development Bank – to aid the country’s climate transition hopes.
During the initial phase of the program, Caldeira is the only mining project named in the country.
Earlier this year, Meteoric also tapped investors for $32.5 million, courtesy of a placement and share purchase plan, in order to fast-track Caldeira towards potentially becoming one of the world’s lowest cost sources, outside of China, in terms of rare earths.
Andy Thomson has appointed chief financial officer of Meteoric, the role previously undertaken by Mr Gale.
“This important management restructure aligns with the strong progress the company has made in the last two years since acquisition of the Caldeira project,” Meteoric chair Andrew Tunks said.
“We are very excited for Stuart to take the reins at this critical juncture for Meteoric.
“Since he joined the company earlier this year, Stuart has demonstrated exceptional leadership capabilities and strategic acumen.
“Add to this his wealth of experience in debt and equity capital markets and we’re highly confident in his ability to deliver the financial and commercial outcomes required to deliver on the world-class potential of the Caldeira project.
“At the same time Nick is moving to focus entirely on the delivery of the Caldeira project to first production in 2027.
“Nick has the requisite development and project delivery to manage this ambitious timeline.”
As of 12.08pm WST, Meteoric shares were up 8 per cent to 10.3 cents.
