RareX has undertaken a major board and management reshuffle to help accelerate exploration of its new Khaleesi project in the East Yilgarn region of Western Australia.
The company has attracted significant attention following its acquisition in late May of Khaleesi and its highly-sought niobium and rare earths potential.
Chair Jeremy Robinson said the changes to the board are consistent with RareX’s current business focus and strategic direction as well as its focus on reducing corporate overheads.
CEO promoted
In preparation for a growing assessment of the district-scale asset, RareX has promoted chief executive officer James Durrant to the board as managing director.
Mr Durrant is being rewarded for his leadership role with the company over the past 18 months, during which time it has reshaped its development approach at the Cummins Range project and acquired Khaleesi.
As part of the transition, Jeremy Robinson has been retained as non-executive chair, while Shaun Hardcastle and Danny Goeman remain as non-executive directors.
Non-executive directors John Young and Cameron Henry have stepped down from the board to focus on their other business interests.
Improved agility
“It’s important for us to evolve with the macro environment and the company portfolio,” Mr Robinson said.
“The restructured board will help us to be more agile as these business streams pick up pace while managing overheads appropriately.”
Mr Robinson added that RareX is poised for growth with exploration ramping up at Khaleesi and low-cost work progressing at Cummins Range to secure potential offtake partners and business development activities in full swing.
Khaleesi focus
With growing global focus on niobium and its potential use in a range of modern technologies, RareX grabbed significant new attention when it revealed it had acquired Khaleesi.
A subsequent report on positive early results from analysis of high-quality historical exploration data from the project boosted interest in the company.
Those studies highlighted several exciting anomalies and confirmed the strong potential for niobium mineralisation.
Based on the strength of these early results, the company acquired an additional 336 square kilometre land package by direct pegging to further expand its landholding in this highly-prospective region.
