SYDNEY: American Pacific Borates Limited has created a US Advisory Board to drive the Company’s US listing process.
Commenting on the creation of the Advisory Board, ABR Chairman, David Salisbury said: “The creation of the US Advisory Board is a deliberate strategy enabling ABR to access a team of professionals like John Mitchell, Tim Johnston and Govind Arora that have significant experience in the industrial minerals sector across engineering, operations, sales and marketing, and public markets.
Their involvement in the business with responsibility for driving the ABR US listing process is an amazing result.
The Advisory Board has a clear understanding of ABR’s rare industrial minerals’ project that is highly relevant for clean energy materials, decarbonisation more broadly and food security.
We are looking forward to working them to deliver positive shareholder outcomes”.
Commenting on his appointment as Chairman of the Advisory Board, John Mitchell said:
“ABR has a unique borate project that has strong parallels with our experience in lithium, energy advanced materials and other critical minerals broadly necessary for global decarbonisation and food security. We are very much looking forward to working with the ABR Board led by David and expect to leverage the good work already completed, while striving to deliver an exceptional outcome of ABR shareholders into the US.”
The creation of the Advisory Board is a deliberate strategy to enable the Company to access a team of professionals with deep public markets and industrial minerals’ operating experience that can support and drive the Company’s aspirations to successfully list its shares on a recognised US exchange.
The Advisory Board will initially consist of three members. John Mitchell has been appointed Chairman. Tim Johnston and Govind Arora make up the balance of the members of the Advisory Board.
The Advisory Board has a broad mandate to work the Company’s executive management to consider and drive the following activities:
- Strategic business planning, including assessing options to enhance and accelerate the Fort Cady Borate Mine;
- Debt capital markets discussions to consider non-dilutive capital options for potential mine acceleration;
- Value engineering of proposed operations where necessary;
- The creation of a talent management plan;
- Recruitment of C-suite executives considered necessary for ongoing operations and management of US public markets;
- Selecting and appointing US investment banks to support the US listing process;
Advisory Board will report into the Company’s Chairman, David Salisbury.
American Pacific Borates Limited is focused on advancing its 100% owned Fort Cady Borate Mine Project located in Southern California, USA. Fort Cady is a highly rare and large colemanite deposit and is the largest known contained traditional borate occurrence in the world not owned by the two major borate producers Rio Tinto and Eti Maden.