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Highlights
- Shares of Core Lithium were trading 4.09% higher on ASX today (August 8) at 12.26 PM AEST.
- This outperforms ASX 200 Materials Index which was 1.35% up at 15,939.00 points.
Lithium mining company Core Lithium Ltd (ASX:CXO) announced last week (5 August 2002) that it had hired a new CEO and the company's shares are rising since the announcement.
Shares of Core Lithium were spotted trading 4.09% higher at AU$1.34 each on ASX today at 12.26 PM AEST. Although, there is no new news shared by the company, it seems that the company’s shares are gaining because of the news shared by Core Lithium on Friday.
This outperforms ASX 200 Materials Index which was 1.35% up at 15,939.00 points today at 12.34 PM AEST. On a sectoral front, materials is the top performing sector today followed by energy sectors. All other sectors are trading in red today at 12.35 PM AEST.
Before the announcement of appointment of new CEO, Core Lithium had also announced the updated diggers and dealers’ presentation (4 August) and BP33 drilling results (1 August).
Who is Core Lithium's new CEO?
Core Lithium has appointed Gareth Manderson as its new CEO.
Stephen Biggins, who announced his resignation as managing director of Core Lithium in March 2022, would be replaced by Manderson.
Manderson has over 22 years of experience in various leadership and technical positions at mining giant Rio Tinto.
Manderson has about three decades of experience in the mining and minerals sector.
Before becoming the general manager of sustaining capital at Rio Tinto, Manderson held a number of high-level leadership positions within the aluminum division.
Additionally, Manderson has prior mining expertise in the Northern Territory. He formerly held the position of Manager Mine and Plant for Energy Resources Australia and frequently filled in as the site general manager for lengthy periods of time.
On August 8, 2022, Manderson will start in his new position. To facilitate a smooth transition, Mr. Biggins will remain a director until the leadership transition is complete.
Image source: © Gavinp101 | Megapixl.com
BP33 drilling results
The Northern Territory's Finniss Lithium Project's BP33 Deposit is located close to Darwin. Following the start of diamond drilling at BP33 in May, Core Lithium reported that the business is now starting to receive tests. Three deep diamond drill holes have a combined depth of up to 470 meters and have encountered the significant BP33 mineralisation.
According to Core Lithium, five more diamond-drilled holes have found mineralised pegmatite connected to the southern BP33 deposit.
