Cauldron Energy Ltd (ASX:CXU) (OTCMKTS:CAULF) has promoted Simon Youds to the role of executive chair.
Youds has a long history with Cauldron, having served as manager of operations from June 2012 until February 2016 and as non-executive chair of the board of directors since March 15, 2019.
In being promoted to executive chair, Youds will be directly responsible for Cauldron’s sand project interests with the objective of advancing these interests into a cash-generating business unit of the company.
Three-pillar strategy
From Cauldron’s perspective, in the near term, the company’ sand project interests provide an opportunity to generate cash flows consistent with the company’s corporate strategy.
In the long term, the sand projects represent an opportunity to generate profits and create value for shareholders.
Cauldron’s corporate strategy involves the achievement of three core strategic pillars:
- Grow project value through exploration and development of its portfolio of uranium, gold and sand projects;
- Produce some and potentially all of the cash needed to fund exploration activity; and
- Become a net-zero carbon emitter by 2050.
Ramping up activities
Executive director Jess Oram said: “We are delighted that Simon is stepping into an executive role at Cauldron.
“The workload has significantly increased as we ramp up activities and target the production of sand and the engagement of offtake partners.
“This work directly supports our strategy to generate cash flow for reinvestment into our exploration activity.
“Simon has been instrumental in the achievements gained to date and is well placed to accelerate this momentum”.
Notable experience in establishing gold mines
Youds is a professional mining engineer having considerable experience in exploration, project development and operational experience in Africa, Asia and Australia.
He also holds an MBA degree from Deakin University, Victoria, and is a member of the Australasian Institute on Mining and Metallurgy.
His experience spans operations, building mines and establishing production in a vast range of commodities and countries.
Particularly relevant to Cauldron is his experience in establishing gold mines along with a major expansion of a uranium mine.
Youds was directly involved in building gold mines - Bibiani (Ghana), Bulyanhulu (Tanzania) and North Mara (Tanzania).
He worked as a member of a multi-disciplinary team with WMC to nearly triple uranium production at Olympic Dam, the world’s largest uranium mine