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Lithium Energy Limited (ASX:LEL) has provided an update on the spinout of its high-grade natural graphite assets into a new entity, Axon Graphite Limited, in partnership with NOVONIX Limited (ASX:NVX). The new company, Axon Graphite (proposed ASX Code: AXG), will focus on advancing its graphite projects in Queensland, Australia. This strategic move aims to merge the complementary strengths of both companies in graphite exploration and development.
Board of Directors Finalised
Axon Graphite has finalised its Board of Directors, appointing Mr. Peter Turnbull AM as the independent Non-Executive Chair. Mr. Turnbull brings a wealth of experience in corporate governance, having held senior executive roles in publicly listed, private, and government organisations, including top ASX companies. He is a former President and current Life Member of the Governance Institute of Australia and has been honored with the Order of Australia for his significant contributions to business administration and corporate governance. His expertise will be invaluable as Axon Graphite transitions into a prominent player in the graphite and battery anode material (BAM) sector.
The Board also includes nominees from NOVONIX and Lithium Energy. NOVONIX is represented by Mr. Anthony Bellas (Executive Director) and Dr. J. Christopher Burns (Non-Executive Director). Lithium Energy's nominees are Mr. Farooq Khan (Executive Director) and Mr. William Johnson (Non-Executive Director). This diverse and experienced Board is well-positioned to guide Axon Graphite through its initial public offering (IPO) and beyond.
Key Management Appointments
In addition to the Board appointments, Axon Graphite has named Mr. Graham Fyfe as Chief Executive Officer (CEO) and Mr. Victor Ho as Company Secretary. Mr. Fyfe, currently the General Manager of Projects at Lithium Energy, will transition to the CEO role upon Axon Graphite's listing on the ASX. Mr. Ho, who also serves as Company Secretary for Lithium Energy, will assume the same role at Axon Graphite. The management team's extensive experience in project development and resource management will be critical as Axon Graphite aims to evolve from a graphite exploration company to a fully operational graphite miner and BAM producer.
Future Directions
Axon Graphite's leadership team is well-prepared to advance its projects, leveraging a strong track record in exploration, discovery, and mineral resource development. The company's immediate focus will be on the successful completion of its IPO and the subsequent development of its graphite assets. The partnership with NOVONIX and the experienced Board and management team position Axon Graphite to capitalise on the growing demand for graphite and battery materials.
