https://www.miningweekly.com
Hatch|Mining|PROJECT|Projects
Hatch|Mining|PROJECT|Projects
hatch|mining|project|projects

Defense Metals provides timeline for new CEO appointment

14th October 2024

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

The search for a new CEO for Vancouver-based Defense Metals, the developer of the Whicheeda rare earth elements (REE) project in British Columbia, remains under way.

Executive chairperson and acting CEO Guy de Selliers said on Friday that a new CEO would be in place by the first quarter of 2025, noting that executive search firm Johnson Partners had identified a number of highly qualified candidates.

“We are pleased with the positive response to our CEO search,” he said.

De Selliers stepped in as acting CEO when Craig Taylor resigned with immediate effect in August.

Further, Defense Metals has announced the successful closing of a previously announced nonbrokered bridge financing of secured convertible notes, raising C$4-million in gross proceeds.

The funds will be used to complete the prefeasibility study (PFS) for the Whicheeda REE project, to carry out scenario analyses and to evaluate possible optimisation processes.

The PFS will be substantially completed by the end of the year, with the final results published in the first quarter of 2025. The PFS is being led by Hatch, with metallurgical oversight provided by rare earth processing expert John Goode.

Following the completion of the PFS, Defense plans to immediately launch into the definitive feasibility study, with financing expected to take place in the first quarter.

“We are encouraged by the progress we are making at this pivotal stage for Defense Metals. The successful completion of a fully subscribed financing is a testament to the quality of the Wicheeda project, which is by all accounts one of the very best undeveloped rare earth mining projects in North America. Our fruitful collaboration with Hatch, who played a lead engineer role on Arafura's Nolan's project, is helping us advance swiftly toward completing our PFS,” said De Selliers.

Edited by Creamer Media Reporter

Comments

Latest News

Speewah fluorite gains major project status
Speewah fluorite gains major project status
Updated 2 hours 9 minutes ago By: Mariaan Webb

Showroom

Weir
Weir

Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...

VISIT SHOWROOM 
Rio-Carb
Rio-Carb

Our Easy Access Chute concept was developed to reduce the risks related to liner maintenance. Currently, replacing wear liners require that...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 06 December 2024
Magazine round up | 06 December 2024
6th December 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.124 0.15s - 143pq - 2rq
Subscribe Now