31 August 2022
(August 31, 2022) Canada’s first rare earths producer Vital Metals Limited (ASX: VML | OTCQB: VTMXF) (“Vital” or the “Company”) advises that it has terminated the consultancy agreement between Atkins Projects and Infrastructure Pty Ltd and the Company and that Geoff Atkins will cease as Managing Director of Vital Metals, effective immediately and Russell Bradford will become interim CEO.
Mr Bradford recently joined Vital’s new Technical Advisory Committee following Lionhead Resources’ A$30 million investment as part of Vital’s A$45 million targeted Share Placement.
Vital has commenced the search for a new Managing Director/Chief Executive Officer.
Vital Chairman Evan Cranston said:
“The Company is continuing to develop its rare earths’ assets in Canada, with the goal of becoming Canada’s first rare earth producer in a time where diversification of supply is critical and essental. We are pleased that following our recent capital raising we are well funded to achieve this goal.
“We are pleased to have the ability to appoint a candidate of Russell’s experience, with a track record of delivering projects on time and on budget, as an interim measure until we find a suitable candidate to fulfill our CEO role. We have commenced the search for a suitably qualified candidate and look forward to advising the market in due course.”
Mr Bradford is a metallurgist with more than 30 years of project management and operational experience in the mining sector. He is a partner at Lionhead Resources where he is primarily responsible for conducting and undertaking technical due diligence on mining projects and providing portfolio company oversight. He has worked in executive leadership positions in operational and project development and has played a key role in successfully developing and building projects for listed mining companies globally.
The material terms of Mr Bradford’s appointment are a contractor fee of A$30,000 per month and a three month contract term (extended monthly thereafter until a new CEO is appointed).