Forrestania Resources makes board and management changes
Published: 17:59 22 Nov 2023
Forrestania Resources Ltd has made several board and management changes following the decision of managing director and CEO Dr Michael Anderson to step down from both positions with immediate effect.
Chairman John Hannaford will act as interim CEO until a suitable appointment is made while experienced corporate executive Scott Patrizi has been appointed to the board as a non-executive director.
Dr Anderson will assist the company with an orderly handover.
“Laid the foundation”
In thanking Anderson for his service to the company, Hannaford said: “He has been tireless in his efforts raising the company’s profile and overseeing several important drilling campaigns at the flagship Forrestania Lithium Project in Western Australia.
"This exploration activity has laid the foundation for what the company believes to be significant potential to uncover new lithium discoveries at Forrestania.”
Experienced executive
Hannaford is well qualified to serve in the interim CEO role as he is an experienced corporate executive with extensive experience in the ASX resources sector.
He has served as non-executive chairman of Forrestania since the company listed on ASX in September 2021.
“Our exploration focus now moves to the company’s emerging Eastern Goldfields lithium and copper project in the near term, where fieldwork continues and drilling is planned in the coming quarter,” Hannaford added.
New director
New non-executive director Patrizi, who holds a Bachelor of Commerce from the University of Western Australia, is a corporate director with strong equity capital markets and project acquisition experience.
He was the executive director of WA gold explorer Caprice Resources Ltd, where he was responsible for that company's successful initial public offering in 2018 and was instrumental in overseeing the acquisition of the high-grade Island Gold Project in October 2020.
“High-quality portfolio”
“I am delighted to be joining Forrestania at this exciting time. The high-quality portfolio provides significant exploration optionality, and I am looking forward to progressing these assets and bringing value to our shareholders,” he said.
Patrizi was formerly executive director at Matador Mining Ltd and a non-executive director of Rarex Limited and Elixir Petroleum Ltd where during his tenure each completed transformational acquisitions.
The new director has worked across a wide range of industries including mining, oil and gas, healthcare and education, providing merger and acquisition, valuation and due diligence services.
FRS Price at posting:
2.9¢ Sentiment: Buy Disclosure: Held
