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Vanadium Resources (ASX:VR8) appoints John Ciganek as MD and CEO - Kalkine Media

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 Vanadium Resources (ASX:VR8) appoints John Ciganek as MD and CEO
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Highlights

  • John Ciganek is all set to join the board of Vanadium Resources (ASX:VR8) as its MD and CEO
  • Ciganek holds over 30 years of experience in the mining and finance industries and in his career to date, has raised debt and equity funding of more than ~AU$5 billion for different clients
  • VR8 expects Ciganek to drive the company through the final stages of the Steelpoortdrift Vanadium Project

ASX-listed emerging vanadium producer Vanadium Resources Limited (ASX:VR8) has appointed John Ciganek as its new Managing Director (MD) and Chief Executive Officer (CEO), effective from 9 January 2023. VR8 believes Mr Ciganek will bring with him extensive experience in mining, project funding, development, and operational expertise to the company.

Previously, Mr Ciganek was associated with VR8 as an Independent Non-executive Director. He has over 30 years of experience in the mining and finance industries.

Key terms of employment

VR8 has highlighted that the key terms of Mr Ciganek's proposed employment contract are as follows:


Image source: © 2022 Kalkine Media®, Data source: Company update

Mr Ciganek’s accolades

A Master of Business Administration graduate, Ciganek has skills in open pit and underground mining operations and other project development and financing aspects.

Through his career to date, Ciganek has raised debt and equity funding of more than AU$5 billion for different clients.

During his association with the finance industry, he has worked in senior managerial positions at Euclase Capital, BurnVoir Corporate Finance, and Commonwealth Bank.

Moreover, his extensive finance and mining experience includes senior engineer-level positions at Hargraves Resources, Reynolds Yilgarn Gold, and Comalco/Rio Tinto (previously CRA).

Mr Ciganek’s transition: reviving Steelpoortdrift’s developments

VR8 believes Mr Ciganek’s transition to Managing Director will be smooth, and his skill sets are expected to drive the company through the final stages of the Steelpoortdrift Vanadium project, which boasts impeccable economics, including a post-tax NPV of AU$1.9 billion.

As per VR8, Mr Ciganek's appointment is part of the company’s strategy for transforming its Steelpoortdrift asset into the next global vanadium producer.

VR8’s Executive Chairman, Mr Jurie Wessels, statement on Mr Ciganek’s appointment:

Image source: © 2022 Kalkine Media®, Data source: Company update

VR8 shares traded at AU$0.061 apiece on 5 December 2022.

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