The board have stepped up and made a quick decision - that good
The board have appointed someone who can start soon - that's very good
The candidate chosen has serious lithium operations experience - that's very good and would have seriously narrowed options available
The candidate chosen has overseen the various exploration works that Mineral Resources has done - that's very good
Core have previously indicated that they want a CE in place before they restart - his appointment removes a barrier to a restart (yahoo)
Mr Brown's signed an employment agreement with options strike price that are 150% of the VWAP. If the VWAP were to improve to say 20c then these options have no value to him unless he gets the share price to 50c. If the VWAP is 15c then that threshold is 37.5c. Clearly he's prepared to back himself and move the share price so that those options have value.
Mr Brown is talking favourably about Core (which is a nice change):
What was Mineral Resources view of Paul?Its got to have been somewhere between great and excellent because Chris Ellison (CE) promoted him into the senior exec team that is listed in Mineral Resources annual report. The Mineral Resources AR notes he was on a one year notice period. It would appear he put in his notice in September as the effective date for a change in his roles at Mineral Resources was 30 September 2022. He then would appear to have continued to work at Mineral Resources for the next year until September 2023. He is trusted by CE because a non-trusted individual resigning from the executive team would have been on gardening leave.
On Nov 2022 and Jun 2023 he took up two non-executive directorships. Some mischievous individuals have suggested that shorter stints as a director indicate a lack of work stability. They show their ignorance when they can't differentiate non-executive and executive roles.
Paul Brown started at Hastings in on 21 September 2023 so it appeared he worked out the year's notice at Mineral Resources. Sometime around or soon after his resignation, Mineral Resources split the role he held in two (Iron Ore and Lithium) so he was looking after a massive portfolio. From his Linked in CV he stayed on at Mineral Resources until Sep 2023.
From Mineral Resources 2020 AR:
Mineral Resources 2022 Annual Report:
From linked in:
(20min delay)