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Vulcan Energy Appoints Ms. Felicity Gooding as CFO

15 January 2024 11:22

Vulcan Energy Resources Limited (ASX:VUL) has announced the appointment of Ms. Felicity Gooding as Group Chief Financial Officer (CFO), bringing her extensive expertise in strategic and financial analysis, debt funding, corporate finance, mergers and acquisitions, and financial accounting and governance within Australia, Singapore, London and Washington DC, to the Company.

Felicity Gooding

Figure 1: Felicity Gooding

A New CFO

Ms Gooding brings two decades of experience as a senior finance executive and leader, a valuable addition to Vulcan Energy offering insight across industries crucial to the Company, including energy, mining, and infrastructure.

Her recent position as CFO and Head of Commercial at Fortescue Limited (ASX: FMG) further underscores her expertise. In this role she led the finance team, including a specialised project financing team responsible for securing finance to facilitate financial investment decisions for green energy projects. Notably, she acted as joint project leader, obtaining expansion finance for FMG totalling $3.5 billion USD.

Before her tenure at FMG, Ms. Gooding served as the Deputy CEO at the Minderoo Foundation, also having held the positions of COO and CFO for both the Minderoo Foundation and Tatterang, the private family office and investment vehicle of Andrew and Nicola Forrest.

With a wealth of experience in directorial roles, Ms. Gooding has contributed her expertise to the boards of Poseidon Nickel, the Freedom Fund, Impact Minerals Limited, and Zhero BV1.

Future Outlook

Vulcan Energy believes Ms. Gooding’s experience with large-scale financing will aid the Company when financing the multiple different phases of its Zero Carbon Lithium™ Project.

Vulcan has already made headway on the Project, commencing Phase 1 financing, where it plans to produce 24,000 tonnes per annum of lithium hydroxide.

This substantial output is anticipated to meet the demand for 500,000 electric vehicles annually, emphasising the Company’s commitment to driving sustainability in the EV sector.

Phase 1 of Vulcan Energy’s operations focus on the Lionheart development area, a key brine-producing site. The Company’s goal is to produce and re-inject a targeted rate of 950 litres per second of lithium-rich brine over 30 years. The anticipated lithium recovery from proven and probable reserves is 647,000 tonnes of lithium hydroxide monohydrate (LHM) or 569,000 tonnes of lithium carbonate equivalent (LCE) over the same period.

Farewell to Mr Ierace

As Ms Gooding steps into her new role with Vulcan at a crucial phase in the Company’s development, Vulcan Energy bids farewell to Mr. Robert Ierace, who will step down from his role as CFO-Australia effective 15 January 2024.

Despite his departure, Mr. Ierace will continue to support the Company until the end of March, facilitating a seamless transition for Ms. Felicity Gooding.

Company Comments

Vulcan Energy’s Managing Director and CEO, Cris Moreno, commented on the new CFO appointment.

“We are delighted with the appointment of Ms. Gooding and believe her extensive global CFO experience will be important in Vulcan’s next stage of commercial growth,” he said.

“Ms. Gooding has worked across capital markets, debt and equity structures and brings a wealth of knowledge in the financing of major projects.”

VUL’s Australian Securities Exchange-listed share price has risen 1.39% and is currently trading at $2.19 today (11:00am UTC+ 8 hours).

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