Future Battery Minerals (ASX:FBM) Executive Chairman Mike Edwards has assumed the role of Non-Executive Chairman as Nick Rathjen begins his tenure as Managing Director and CEO.
The $45.89 million market capitalisation company says Edwards has been ‘instrumental’ in leading the company through a ‘significant’ restructuring and subsequent transition into a lithium-focused company.
Future Battery notes that Edwards represents a key part of its leadership team, and he will continue to lead the board in a non-executive capacity as the company ‘rapidly’ advances its Kangaroo Hills and Nevada lithium projects in Western Australia and Nevada, US, respectively.
Future Battery Minerals believes both these projects have the potential to be ‘world-class’ deposits.
This latest management change follows the departure of company Non-Executive Director Paul Brown last week (11 October 2023) and comes only 24 hours after the company flagged a lithium pegmatite swarm at the Big Red and Rocky prospects within its Kangaroo Hills Project.
A fresh diamond drilling program is now scheduled to begin in November this year at Kangaroo Hills to test potential down-dip extension/thickening.
Future Battery Minerals is a lithium, nickel, and copper explorer that currently holds a portfolio of projects being driven towards development and production.
The Kangaroo Hills Project is located in Western Australia and is wholly owned by Future Battery Minerals after the company acquired the remaining interest from its former joint venture (JV) partner, Lodestar Resources (ASX:LSR), as reported on 11 August this year.
Future Battery Minerals had $3.04 million cash and cash equivalents at hand as of 30 June 2023, although it raised an additional $7.6 million in September through a placement to accelerate exploration at both the Kangaroo Hills and Nevada projects.
Write to Adam Drought at Mining.com.au
Images: Future Battery Minerals