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Proactive Investors - Tungsten West PLC (LON:TUNT), the mining company focussed on restarting production at the Hemerdon tungsten and tin mine in Devon in the UK, has said its chairman, Robert Ashley, has taken the decision to retire and therefore will be stepping down from his position with immediate effect.
The company has announced that David Cather, currently its senior independent non-executive director, will become its new chairman of the board. Cather joined the company in September 2021 and was previously the CEO of Abu Dhabi Capital Group, a private institutional investment house located in the United Arab Emirates, and before that CEO of Avocet Mining PLC, a gold production company operating in Burkina Faso.
Additionally, the company said, Martin Wood has been appointed to its board and will assume the role of senior non-executive director. He is the managing director and founder of Vicarage Capital Limited, a full-service brokerage house for junior and mid-cap resource companies. He is also non-executive chairman of Altona Rare Earths Limited where working closely with the CEO he aided the negotiations of the acquisition of rare earths development assets in Mozambique and Malawi.
Tungsten West noted that Wood's experience in debt and equity markets and the development of resource assets will be of great value to the company as it restarts Hemerdon. His former directorships include ASX-listed Kogi Iron Ltd and JSE-listed Arden Capital Limited.
In a statement, Mark Thompson, executive vice chairman of Tungsten West, commented: "On behalf of the board and the company, I would like to thank Rob for his considerable efforts in our journey to restarting Hemerdon, which continues to advance. We wish him all the best in his retirement.
"Whilst David has been a part of the company since September 2021, we are delighted that he has taken up the mantle of chairman where he will continue to utilise his experience in mine development.
"It is also a pleasure to welcome Martin to Tungsten West, having his experience on the board further strengthens the team, as we continue to progress towards our production goals."