Oar Set New Managing Director for Critical Mineral Exploration

8 August 2023 11:28

With an eye on accelerating the exploration and development of its critical mineral holdings, Oar Resources (ASX: OAR) has appointed its former Chief Executive Paul Stephen to the role of managing director, bringing his significant experience in public and private company management to task on the explorer’s portfolio.


Having earnt a degree in commerce from the University of Western Australia, Stephen has held leadership positions in listed companies across the ASX, LSE and CSX, giving him an extensive knowledge of operations and compliance across multiple jurisdictions which will be crucial to Oar given the international nature of its portfolio.

The biggest resources credit to his name is his work as Co-Founder and Executive Director of Crusader Resources Ltd, overseeing development and operations at the Posse Iron Ore Mine in Brazil, where he managed the discovery of more than 2.6 million ounces of gold resulting in the Company achieving a market valuation exceeding A$160 million.

Alongside his experience in leading exploration companies to great success, Stephen’s time as Managing Director of Integrated gives him insight and operational experience into mine site servicing and contracting operations given the Company’s specialisation in providing fuel services to mining and aviation clients.

Looking Ahead

Stephen was first appointed as the Company’s chief executive in November last year and the positive impact he has had on the Company since then is what motivated the board to appoint him as its managing director as it looks to enter the next stage of exploration and development at its critical metal projects.

The majority of the explorer’s focus is currently being placed on the development of its namesake graphite project in South Australia and its Denchi Lithium Project in Western Australia, with the Company recently securing $1.75 million dollars in funding to accelerate exploration and development of these projects.

On his appointment, Stephen said he looks forward to keeping investors and the broader market up to date on the Company’s activities as it enters this exciting new stage of development.

“It’s a privilege to apply my knowledge and expertise at OAR as we implement a strategic growth plan focused on critical mineral exploration and development,” Stephen said.

“Since I was first appointed to the Company last November, a lot of work has been conducted behind the scenes to identify the most strategic growth path, and to determine how we leverage our exposure to the global critical minerals and rare earth markets.”

OAR’s Australian Stock Exchange-listed share price has risen 20 per cent today and is currently trading at 6c (11.00 am UTC+ 8 hours).

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