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) 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 focused on are:
1. Maricunga JV (Chile) - Located within the "Lithium Triangle", Maricunga is Chile's highest grade and most advanced lithium project outside the Salar de Atacama. The project lies 170 km northeast of Copiapo and 250 km from the port of Caldera.
2. Pilbara (Western Australia) - LPI has three granted exploration tenements covering 203 km2 in the Pilbara region of northern Western Australia. The largest granted exploration tenement is the Pilgangoora tenement which is 2-3 km 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 400 km2 in the Greenbushes area of southern Western Australia. The tenements are adjacent to the world's largest hard rock lithium mine owned and operated by Tianqi/Talison.
4. Centenario (Argentina) - Through its Argentinian subsidiary, Lithium Power holds a total of seven granted tenements in the Centenario lithium brine salar within the Salta province of the Puna Plateau. In total, the seven granted tenements cover an area of 68.46 km2.
With the exception of the Maricunga JV, all tenements are 100% owned by LPI or LPSA (including rights to the Centenario tenements).
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