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An experienced investment banker, Mr Barnaby Egerton-Warburton takes the helm of metals and mining sector company, Hawkstone Mining Limited (ASX: HWK) with effect from 16 May 2019.
This outlines the companyâs official announcement in which Hawkstone stated that Mr Barnaby Egerton-Warburton has been appointed to the position of Non-Executive Chairman of HWK, effective 16 May 2019. The appointment comes at an annual fee of $60,000 per annum in addition to the 4,000,000 options to acquire fully paid ordinary shares in the company exercisable at $0.06 each on or before 30 December 2021 and 4,000,000 options to acquire fully paid ordinary shares in the company exercisable at $0.07 each on or before 30 December 2021.
Take a snapshot of Hawkstoneâs current Board composition:
Source: Companyâs Presentation
Mr Barnaby Egerton-Warburton has held Non-Executive Director and Managing Director positions in the oil and gas, investment banking and resource sectors. More interestingly, Barnaby has driven the initial introduction of Rhyolite Ridge Lithium-Boron Project, located in Nevada USA, during his term as Non-Executive Director of ASX listed ioneer Ltd. His experience and involvement in this advanced lithium project is expected to greatly assist the company as it progresses its Big Sandy Lithium Clay Project through its current program of resource drilling.
Commenting on the new appointment, Managing Director Paul Lloyd stated that âWith the company engaged in a significant phase in the development of its Big Sandy Lithium Project, an executive of Barnabyâs calibre with significant experience in lithium-clay projects will be invaluable to the company.â
Hawkstone recently released the results from its 37-hole Phase 2 diamond drill program at its Big Sandy Lithium-Clay Project, located in Arizona USA. The results included the intersection of thick, high-grade lithium mineralisation up to 600m north with consistent geology that compares extremely favorably to other lithium plays in the USA.
Hawkstone has reportedly finished 19 of the planned 37-hole program with diamond drilling continuing over the Northern Mineralised Zone. The company further informed that a bottom cutoff grade of 2,000 ppm Li was used in the calculation of the higher-grade internal. Its key focus areas of development include:
- Diamond Drilling to outline JORC resource
- Building industry recognized management team
- Advancing metallurgical test work to develop flowsheet
- Ongoing Industry partner identification process
Image: Roadmap defining JORC Resource calculation Source: Companyâs Presentation
Hawkstone advisor and lithium industry specialist Dr. David Deak with Managing Director Paul Lloyd are currently promoting the Big Sandy Project in Perth, Sydney and Melbourne, building investor awareness of sediment-hosted lithium projects.
In todayâs trading session, 16 May 2019, HWK traded flat, however there has been a daily volume change of 700,000. HWK last traded at $0.021 with a market cap of $11.98 million. Over the past 12 months, the stock has declined by 34.38% despite a massive upside momentum of 23.53% recorded in past three months.
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