Appointment of Mr Russell Barwick as Non-Executive Director
- Former CEO of Newcrest Mining Limited (ASX:NCM) - Market Cap $18b
- Former COO of Wheaton River Minerals and Goldcorp Inc (TSE:G) $22b
- Highly experienced, internationally renowned mining executive and engineer, Mr. Russell Barwick appointed as Non-Executive Director
- Over 43 years technical, managerial and corporate experience, including significant experience in Latin America.
Mr. Barwick is an internationally renowned mining executive and engineer with over 43 years technical, managerial and corporate experience in various commodities. He initially worked for Bougainville Copper Limited (ASX:BOC) [CRA], Pancontinental Mining Limited [Jabiluka Uranium] and CSR Ltd (ASX:CSR) [Hail Creek Coal].
Following this, Mr. Barwick spent 16 years with Placer Dome Inc. occupying a number of key development, operational and corporate roles in numerous countries culminating in being appointed Managing Director of Placer Nuigini Ltd.
He then served as Chief Executive Officer of Newcrest Mining Limited where he achieved strong market support. For the four-year period, up to 2007, Mr Barwick was the Chief Operating Officer of Wheaton River Minerals and Goldcorp Inc. during which the quickly evolving company grew from market capitalisation of several hundred million dollars to CAD$22 billion and became the third largest gold company in the world by market capitalisation. He is currently the non-executive Chairman of Red Metal Ltd (ASX:RDM) and a non-executive director of Mt Gibson Iron Ltd.
Mr. Barwick will add a distinctive skill set to the Board with a strong development, operating and corporate background, particularly in Latin America, along with providing the Company with leadership recognised by the international resources investment community.
Further to the recent appointment of Mr. David Hannon as Non-Executive Chairman, the appointment of Mr. Barwick as a non-executive Director further strengthens the Board, as the Company moves to the next stage of its development.
Mr. Barwick, has been offered 2 million options in LPI at an exercise price of $0.60, with a 3-year expiry, subject to shareholder approval at the next General Meeting.
In addition, Mr. Barwick will participate in the upcoming capital raise with a $200,000 investment, subject to shareholder approval.
Lithium Power International's Chairman, David Hannon, commented:
"The Board is delighted to welcome Mr. Barwick to the Company as non-executive Director. To have someone of his calibre, energy and Latin American knowledge join the Board of LPI is testimony of the significant potential of the Maricunga lithium brine project. Mr. Barwick will provide his extensive technical and international corporate experience at Board level".
About Lithium Power International Ltd
Lithium Power International Limited (ASX:LPI) (FRA:24L) is a pure-play lithium explorer and developer, focusing on developing and fast-tracking to production the high-grade Maricunga lithium brine project in Chile.
LPI has a well known performing technical team with the experience to take the Maricunga project all the way through the development stages to production.
The regions that LPI is currently focussed on are:
1. Maricunga JV (Chile) – On 13th September 2016, Lithium Power announced the creation of a new JV to develop the world-class Maricunga lithium brine deposit in northern Chile.
2. Pilbara (Western Australia) – LPI has one granted exploration tenement and two pending exploration applications covering 203km2 in the Pilbara region of northern Western Australia. The largest granted exploration tenement is at Pilgangoora-Houston Creek is 2-3km west of the Pilbara Minerals (ASX:PLS) and Altura Mining (ASX:AJM) lithium deposits.
3. Greenbushes (Western Australia) – LPI has two granted exploration tenements covering 400km2 in the Greenbushes area of southern Western Australia. The tenements are adjacent to the world’s largest hard rock lithium mine owned & operated by Tianqi/Talison.
4. Centenario (Argentina) –Through its Argentinian subsidiary, Lithium Power holds a total of 6 granted tenements in the Centenario lithium brine salar within the Salta province of the Puna Plateau. In total, the 6 granted tenements cover an area of 61.52km2. In addition, there is 1 further tenement in the grant review stage.
With the exception of the Maricunga JV, all tenements are 100% owned by LPI or LPSA (including rights to the Centenario tenement which is the subject of review by the Argentinian mining authorities).
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