Andromeda Metals Ltd (ASX:ADN) has appointed a new chief financial officer in Michael Zannes, a qualified accountant with more than 20 years of experience in the mining industry.
Zannes has an extensive background in managing operational and corporate finance functions within resource companies both in Australia and internationally, including experience in financial reporting and analysis, tax, treasury, systems design and implementation, purchasing and logistics, and business improvement.
With the creation of this new CFO role, Nick Harding will continue as executive director and company secretary, however, his focus will now be directed towards the areas of corporate governance, shareholder relations and business development, which are functions demanding increased attention as Andromeda continues to expand and evolve.
Extensive experience
Andromeda is confident that the experience Zannes brings will prove invaluable as the company moves towards establishing mining operations at the Great White Kaolin Project early next year.
Zannes has previously held various commercial roles with New Gold Inc (NYSE:NGD) (TSE:NGD) (FRA:32N) including as company director and secretary for New Gold’s Australian divisions and also held the role of general manager of Australian operations for Peak Gold Mines.
He spent almost five years working with Whitehaven Coal Ltd (ASX:WHC) (OTCMKTS:WHITF) (FRA:WC2) as divisional commercial manager where he established the commercial and financial functions for Whitehaven open-cut operations and which included greenfield development sites.
In addition, he previously worked with Xstrata Copper in business development establishing finance and commercial functions for the project development division.
MoU with AEM Technologies
Last week the company signed an MoU with AEM Technologies Inc to explore a joint technical and commercial development under which the company can access AEM’s patented process to construct a facility to produce high purity alumina (HPA) using ADN kaolin.
ADN and AEM, part of the Advanced Energy Minerals group, have also entered an initial 90-day exclusivity period to explore a HPA licensing transaction that includes testing ADN kaolin feed, process feasibility studies and potential licensing and marketing arrangements.
AEM’s Cap Chat HPA Process Plant in Quebec, Canada, uses its patented process to make 99.99% (4N) and 99.999% (5N) pure HPA and is the only facility globally that is capable of producing this from a kaolin feed.
During the exclusivity period, Andromeda will carry out further due diligence and testing on the AEM HPA process, with a large sample of ADN kaolin sent to Cap Chat.