Andromeda Metals Ltd (ASX:ADN) has farewelled chief financial officer (CFO) Michael Zannes, who has left the South Australian kaolin stock to pursue another opportunity.
Zannes has served alongside key members of Andromeda’s executive team since June 2020, leading the finance team through a pivotal phase in the company’s development.
Reflecting on Zannes’ time with the company, Andromeda managing director James Marsh said he had made a significant contribution in restructuring Andromeda, building its financial reporting systems and assisting with its funding options for the Great White Project.
“Michael is leaving the company in a solid financial position, as we progress our flagship Great White Project towards a final investment decision,” he explained.
“I’d like to thank Michael for his commitment to the company and wish him every success in his future role.”
Following Zannes’ departure, Andromeda has kicked off the search for a new CFO. Non-executive director Austen Perrin will oversee the business’ financial operations while the recruitment mission is underway.
About Andromeda
Andromeda’s mission is to bring high-quality and sustainable industrial minerals to market. It’s focused on building out the Great White Kaolin Project, a halloysite and kaolin asset that has the potential to become a world-class mining operation.
Kaolin plays an important role in everyday products like ceramics, paint, pest control and paper, but it’s also an integral part of emerging technologies like air and water purification, soil remediation, battery technology and medicinal applications.
Down the line, Andromeda hopes to deliver the highest-quality halloysite-kaolin on the market, providing a steady stream of material over Great White’s 28-year mine life.
The company hopes to commission its initial plant in late 2023 before notching its first sale early in 2024.