American Rare Earths Ltd (ASX:ARR, OTCQB:ARRNF) welcomes the appointment of CEO Chris Gibbs as a non-executive director to the board of Godolphin Resources Ltd following the company’s investment in Godolphin, which is subject to shareholder approval at that company’s upcoming AGM.
Gibbs brings more than 28 years of global experience in the resources sector to Godolphin’s board and will support the development of their critical minerals and base metals projects.
ARR investment
He will help advance key projects, including the Lewis Ponds Gold and Base Metals Project and the Narraburra Rare Earths Project in New South Wales and his leadership will ensure alignment between the two companies as they pursue mutual growth.
ARR is increasing its shareholding in Godolphin to 19.9%, subject to shareholder approval at the upcoming AGM. The contribution of up to $510,000 will support exploration and development at GRL’s key assets.
“Aligns with strategy”
“Our investment aligns perfectly with our strategy of supporting high-potential projects in the critical minerals sector," Chris Gibbs said.
"Godolphin as a company has significant upside opportunity, particularly with its key Lewis Ponds asset and the Narraburra Rare Earths Project.
"With ARR’s increased shareholding and board representation, we are well-positioned to unlock value for both companies.”