FREE DAILY STOCK MARKET NEWS

FREE DAILY STOCK MARKET NEWS

Desert Metals announces board appointments amid accelerated exploration in Côte d’Ivoire

3 April 2024 09:53
ASX:DM1

Desert Metals Limited (ASX:DM1) is embarking on a new chapter of leadership and strategic direction with the announcement of significant board and management changes, welcoming seasoned geologist and Non-Executive Director Stephen Ross as its newly appointed Managing Director.

Ross’s expertise leveraged

With over three decades of invaluable experience in gold exploration within West Africa and extensive ASX board experience, Mr. Ross has held pivotal roles in companies such as West African Resources Limited (ASX: WAF) and Azumah Resources Limited.

Effective April 1, 2024, Mr. Ross’s appointment strategically positions Desert Metals to leverage his expertise in spearheading exploration programs, particularly in Côte d’Ivoire.

LN1r2Kh4TSYtu1x5?auto=format%2Ccompress&fit=max&h=800&q=75&s=c39ce5d2fc92401474a5b436620ae3c8

Image 1: Stephen Ross

Transition of Dr. Robert Stuart

Dr. Robert Stuart, who previously held the Managing Director position, has opted to transition into a Non-Executive Director role and consultant within the Company.

Dr. Stuart’s pivotal contributions in assembling the Western Australian asset portfolio and initiating exploration programs ensure seamless knowledge transfer and strategic guidance, particularly concerning Desert Metals’ Western Australian interests, with his continued involvement.

New board addition

Desert Metals also welcomes Mr. Patrick Flint, an experienced company director, to its board.

Mr. Flint’s extensive background in accounting and rich experience in the resources sector, spanning over two decades, adds significant value to the board’s composition, aligning well with Desert Metals’ strategic vision, especially given his involvement with ASX and Toronto Stock Exchange-listed companies, particularly in francophone Africa.

Continued exploration

Last year, Desert Metals made its initial foray into the West African mining sector by acquiring CDI Resources and its extensive portfolio, comprising seven projects spanning 2,769 square kilometres in Ivory Coast.

This strategic shift garnered investor confidence, evident from DM1’s share price soaring by 64% upon the acquisition announcement. Following the acquisition’s finalisation, the company successfully raised A$3.75 million to fund the drilling campaign.

Desert Metals continues its engagement in exploration planning within Western Australia and has shown notable advancements in expanding operations within Côte d’Ivoire.

Recent developments include advancing fieldwork at Tengrela South and preparing for forthcoming activities at the Adzope Gold Project, with Mr. Ross’s recent visit to Côte d’Ivoire fostering productive engagements with stakeholders, paving the way for future endeavours.

LQ9YT2kpHz2rOCq5?auto=format%2Ccompress&fit=max&h=800&q=75&s=68869878a47e703dde05194fd83516c1

Figure 1: Desert Metals’ Podio and Logbog drilling plan

Executive enthusiasm

Desert Metals Chairman Mark Stewart expressed enthusiasm over Stephen Ross’s appointment as Managing Director, highlighting Ross’s extensive experience in West Africa and his pivotal role in assembling the recently acquired Côte d’Ivoire project portfolio.

“We are extremely pleased Stephen has accepted the role of Managing Director for Desert Metals as we progress our exploration programs in both Côte d’Ivoire and Western Australia. Stephen has a long history in West Africa, where he has managed a geological consultancy and ASX-listed companies,” he said.

“He was instrumental in assembling the Côte d’Ivoire project portfolio which Desert Metals recently acquired, comprising seven gold and lithium exploration projects covering nearly 2,800km2, and he takes a very proactive approach with his in-country exploration teams, stakeholder engagement and the mining investment community.

“Our Board looks forward to working with Stephen as we execute our current exploration programs,” he added.

DM1’s Australian Security Exchange-listed share price is currently trading at $0.031 (10:00 am UTC+ 8 hours).

The Market Bull Logo

FREE DAILY STOCK MARKET NEWS

Join our mailing list to receive the latest stock market news.

You have Successfully Subscribed!

Share This