Explorer and developer American Lithium has appointed Simon Clarke as CEO of the company with immediate effect.
Clarke, who was most recently founder, CEO and director of M2 Cobalt, is succeeding founder Michael Kobler as CEO. Kobler will continue as general manager of American Lithium’s US operations.
The company states that Clarke has significant experience and knowledge of the battery metals space and, in addition to day-to-day management of company-wide operations, including in East Africa, his roles with M2 Cobalt and subsequently Jervois Mining involved managing government and stakeholder initiatives relating to the supply of battery metals in several jurisdictions.
In particular, Clarke has “first-hand experience” with the critical minerals initiatives in the US and the need to develop domestic, or "friendly” sources of critical minerals, including battery grade lithium.
American Lithium is exploring and developing the TLC lithium project, in the Esmeralda lithium district of Nevada. TLC is in the same basinal environment as Albemarle’s Silver Peak lithium mine and several advancing deposits and resources, including Ioneer’s Rhyolite Ridge and Cypress Development’s Clayton Valley projects.
Meanwhile, American Lithium has completed a nonbrokered private placement of 7.5-million units at $2 each for gross proceeds of $15-million.
Proceeds of the placement will be used to continue development of the TLC project and for general working capital purposes.
Subject to completion of the acquisition of Plateau Energy Metals, which is expected to close within the next two weeks, a portion of the proceeds may also be used for the ongoing development of the Falchani and Macusani projects in Peru.