Resouro Appoints Experienced Rare Earths Specialist Alistair Stephens as CEO
Resouro Strategic Metals Inc.
BC0430203 (Canada) ARBN 671 716 457 (Australia)
Level 10, Kyle House, 27-31 Macquarie Place, Sydney NSW 2000 – Tel: + 61 407 123 143
Suite 250, 997 Seymour Street, Vancouver, British Columbia, V6B 3M1 Canada – Tel: +1 403-807-2948
Page 1 of 4
ASX: RAU
TSXV: RSM
TSXV Release: ASX Release:
16 October 2024 17 October 2024
Resouro Appoints Experienced Rare Earths Specialist
Alistair Stephens as CEO
Resouro Strategic Metals Inc. (ASX: RAU ; TSX-V: RSM ; FSE: 8TX ; OTC: RSGOF )
("Resouro" or the " Company") is pleased to announce the appointment of experienced rare
earths specialist, Alistair Stephens, as Chief Executive Officer (“CEO”) effective 1 November,
2024.
Alistair has a career in the mining industry that spans 35 years. In the initial 15 years of his
career, he worked in mining operations in Western Australia for Newmont, KCGM, WMC
Resources Ltd and Orica.
In the last 20 years, Alistair has developed a unique skill set in the specialty and critical metals
sector with a focus on Rare Earth Elements (“REE”) and rare metals. As Managing Director
and CEO he has played instrumental roles in the development of feasibility studies for projects
like the Nolans Rare Earths Project in central Australia, Kanyika Niobium Project in Malawi
and the Kangankunde Rare Earths Project in Malawi.
He has successfully defined a significant global inventory of major rare earths resource deposits
and been a leader in successful metallurgical test work programs, metallurgical flowsheet
development and engineering designs that will be crucial in the development of Resouro’s
globally significant Tiros Titanium-Rare Earths Project in Brazil.
Alistair brings extensive leadership skills in team building, strategic planning, corporate
governance, stakeholder communications, corporate finance, personnel management,
commodity marketing and mining and processing operations.
https://www.linkedin.com/in/alistair-stephens/
Resouro Strategic Metals Inc.
BC0430203 (Canada) ARBN 671 716 457 (Australia)
Level 10, Kyle House, 27-31 Macquarie Place, Sydney NSW 2000 – Tel: + 61 407 123 143
Suite 250, 997 Seymour Street, Vancouver, British Columbia, V6B 3M1 Canada – Tel: +1 403-807-2948
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Commenting on Alistair Stephen s’s appointment as CEO, Executive
Chairman, President and Founder, Chris Eager said:
“We are delighted to welcome Alistair as CEO at this exciting stage in the
Company’ s growth trajectory. Alistair’ s proven leadership, deep industry
expertise, and forward-thinking, align with our vision for Resouro to become a world leader in
the provision of rare earth elements and titanium . Alistair brings a wealth of experience in
steering organizations through complex challenges and unlocking new opportunities, making
him the ideal person to help guide Resouro through our next phase of growth and innovation.
The Board has full confidence in his ability to drive our strategic objectives, build on our strong
foundation, and deliver long-term value for our shareholders.”
The Company’s current CEO, Chris Eager, will continue in the role of Executive Chairman and
work closely with Alistair in driving the Company’s strategic plan.
A summary of Mr Stephen’s consultancy terms are included below.
Summary of Key Engagement Terms:
The terms of engagement are in line with industry practice and ASX corporate governance
guidelines. The remuneration package is designed to ensure alignment of reward with
achievement of corporate objectives and the creation of shareholder value , as determined by
the Board.
Term
Mr Stephens’ engagement as CEO will be effective from 1 November 2024 and until
terminated in accordance with the Agreement.
Remuneration
Mr Stephens will be paid a monthly consultancy fee of A$30,000 per month plus the following
equity grant:
Mr Stephens, or his nominee, will be issued a total of two million (2,000,000) stock options
(Options) in the Company , each expiring five (5) years from the date of issue , with the
following vesting conditions:
(i) 250,000 vesting upon signing exercisable at CAD$0.50;
(ii) 250,000 upon Delivery of a Viable REE Leaching Flowsheet, exercisable at CAD$0.65;
(iii) 250,000 upon completion of a Preliminary Economic Assessment that justifies project
development, exercisable at CAD$0.75;
(iv) 750,000 upon Delivery of a P re-Feasibility Study with a minimum IRR of 30% ,
exercisable at CAD$0.90; and
(v) 500,000 upon the Company’s market capitalisation, based on the non -diluted capital
structure as at the date of th e Agreement, being at least A$150 million for a period of
not less than 20 trading days based on the ASX CDI price, exercisable at CAD$1.00.
Resouro Strategic Metals Inc.
BC0430203 (Canada) ARBN 671 716 457 (Australia)
Level 10, Kyle House, 27-31 Macquarie Place, Sydney NSW 2000 – Tel: + 61 407 123 143
Suite 250, 997 Seymour Street, Vancouver, British Columbia, V6B 3M1 Canada – Tel: +1 403-807-2948
Page 3 of 4
Termination
The Agreement may be terminated by the Company by three months’ notice or payment in lieu
of notice and three months’ notice by Mr Stephens or immediately by either party for a material
breach of the Agreement. Customary restraint provisions apply.
This announcement has been authorized for release by the Board of Directors.
Contact Information:
Chris Eager, CEO
+44 7388 0579809
Justin Clyne, Director
+61 407 123 143
Melissa Hamilton, Media,
+61 417 750 274
About the Company
Resouro is a Canadian incorporated mineral exploration and development company, listed on
the ASX, TSXV , OTC and FSE, focused on the discovery and advancement of economic
mineral projects in Brazil, including the Tiros project in Minas Gerais and the Novo Mundo
Gold Project in Mato Grosso. The Tiros project represents 25 mineral concessions totalling 450
km2 located in the state of Minas Gerais, one of the most infrastructurally developed states of
Brazil, 350 km from Belo Horizonte, the state capital. Resouro has released a Mineral Resource
Estimate for the Tiros Project of 1. 7 bn tonnes of Inferred, Indicated and Measured Resource
as follows.
DOMAIN CAT TONNES (t) TiO2 (%) TREO (ppm) MREO (ppm)
HG (High Grade)
Inferred 42,000,000 23 8,700 2,200
Indicated 55,700,000 23 9,030 2,380
Measured 20,800,000 24 9,320 2,530
Sum 120,000,000 23 9,000 2,400
MG (Medium
Grade)
Inferred 620,000,000 11 3,500 950
Indicated 704,000,000 11 3,650 1,020
Measured 224,000,000 11 3,570 997
Sum 1,500,000,000 11 3,500 930
Totals 1,700,000,000 12 3,900 1,100
Note: Further details of the Company’ s Maiden JORC MRE are contained within the Company’ s announcement
of 18 July, 2024. Resouro is not aware of any new information or data that materially affects the information
included in the Company’ s announcement of 18 July 2024 and that all material assumptions and technical
parameters underpinning the estimates referred to therein continue to apply and have not materially changed.
Resouro Strategic Metals Inc.
BC0430203 (Canada) ARBN 671 716 457 (Australia)
Level 10, Kyle House, 27-31 Macquarie Place, Sydney NSW 2000 – Tel: + 61 407 123 143
Suite 250, 997 Seymour Street, Vancouver, British Columbia, V6B 3M1 Canada – Tel: +1 403-807-2948
Page 4 of 4
Forward-Looking Information
This announcement contains certain "forward -looking information" within the meaning of
applicable securities law. Forward-looking information is frequently characterized by words
such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other
similar words, or statements that certain events or conditions "may" or "will" occur. Although
we believe that the expectations reflected in the forward -looking information are reasonable,
there can be no assurance that such expectations will prove to be correct. We cannot guarantee
future results, performance or achievements. Consequently, there is no representation that the
actual results achieved will be the same, in whole or in part, as those set out in the forward -
looking information.
Forward-looking information is based on the opinions and estimates of management at the
date the statements are made and are subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ materially fr om those anticipated in
the forward-looking information. Some of the risks and other factors that could cause the
results to differ materially from those expressed in the forward -looking information include,
but are not limited to: general economic conditi ons in Canada and globally; industry
conditions, including governmental regulation and environmental regulation; failure to obtain
industry partner and other third party consents and approvals, if and when required; the need
to obtain required approvals fr om regulatory authorities; stock market volatility; liabilities
inherent in the mining industry; competition for, among other things, skilled personnel and
supplies; incorrect assessments of the value of acquisitions; geological, technical, processing
and transportation problems; changes in tax laws and incentive programs; failure to realize
the anticipated benefits of acquisitions and dispositions; and the other factors. Readers are
cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this announcement is expressly qualified by this
cautionary statement. We undertake no duty to update any of the forward-looking information
to conform such information to actual results or to changes in our expectations except as
otherwise required by applicable securitie s legislation. Readers are cautioned not to place
undue reliance on forward-looking information.
Neither the ASX, TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
.