REG - Tungsten West PLC - Board Change

Tungsten WestAnnouncement

05/06/2024 07:00

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RNS Number : 1273R  Tungsten West PLC  05 June 2024

5 June 2024

Tungsten West Plc

("Tungsten West", the "Company" or the "Group")

 

 Board Change

 

Tungsten West (LON:TUN), the mining company focused on restarting production
at the Hemerdon tungsten and tin mine in Devon, UK, announces that Neil
Gawthorpe has resigned as Chief Executive Officer ("CEO") with immediate
effect. He remains a Director of the Board pending finalisation of his
Settlement Agreement.

 

Mr. Alistair Stobie will retain the role of the Company's Chief Financial
Officer and will additionally assume the position of Interim CEO and join the
Company's Board of Directors, subject to completion of the customary due
diligence required by the AIM Rules for Nominated Advisers to be undertaken by
the Company's Nominated Adviser, Strand Hanson Limited. The Company has
commenced the process of appointing a permanent CEO and further announcements,
including the requisite Schedule 2(g) disclosures required under the AIM Rules
for Companies, will be made in due course.

 

David Cather, Non-Executive Chairman of Tungsten West, commented: "I would
like to thank Neil for the progress at the Hemerdon project that has been made
under his leadership, especially in respect of right-sizing the project cost
base whilst the updated Feasibility Study is finalised, obtaining the lifting
of the tonnage cap for truck haulage of aggregates, and obtaining the draft
Environmental Permit for the Mineral Processing Facility, the last
outstanding permit required for the restart of mining operations. We wish Neil
all the best with his future endeavours.

 

"The Company continues to focus on restarting production at the Hemerdon
project, and we are pleased that Alistair Stobie will assume the position of
Interim CEO whilst we commence the process of appointing a permanent CEO to
help direct our collective efforts at Hemerdon."

 

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.

 

Ends

 

For further information, please contact:

 

Enquiries

 Tungsten West                               Strand Hanson

 Alistair Stobie                             (Nominated Adviser and Financial Adviser)

 Tel: +44 (0) 1752 278500                    James Spinney / James Dance / Abigail Wennington

                                             Tel: +44 (0) 207 409 3494
 BlytheRay

 (Financial PR)

 Tim Blythe / Megan Ray

 Tel: +44(0) 20 7138 3204

 Email:  tungstenwest@blytheray.com

 Hannam & Partners

 (Broker)

 Andrew Chubb / Matt Hasson / Jay Ashfield

 Tel: +44 (0)20 7907 8500

 

Follow us on X @TungstenWest

 

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