Clean Air Metals Inc (TSX-V:AIR, OTCQB:CLRMF) has announced the appointment of senior mining engineer Mike Garbutt as chief operating officer of the company with immediate effect.
Garbutt is well experienced in mine operations, having held senior leadership roles, with the most recent being the deputy general manager of a major mine in northern Ontario, the company noted.
“Mike is capable of leading that process and ultimately, construction of a successful mine development at Thunder Bay North. We are fortunate to have attracted an individual of his caliber," said Jim Gallagher, executive chair of the company’s board of directors in a statement.
Clean Air Metals is committed to being a leader and innovator in ESG principals and implementation as it progresses the Thunder Bay North project from exploration into feasibility studies and environmental permitting, Gallagher added.
READ: Clean Air Metals hails latest infill drilling results from Escape deposit at Thunder Bay North project
Garbutt, who is Lean/Six Sigma Black Belt trained and an active board member of the Ontario Mining Association, has led significant business improvement engagements over multiple organizations and is experienced in the successful transition from capital projects to operations.
"It is clear that the team here at Clean Air Metals is well-positioned for success. I am looking forward to working with the group to advance our flagship Thunder Bay North project," Garbutt commented.
In conjunction with his appointment, Clean Air Metals has granted 1,000,000 incentive stock options to Garbutt, subject to regulatory approval, which are exercisable at a price of $0.22 per share for five years from the date of issue.
The company also updated on its COVID-19 policy, whereby it noted zero occurrences related to the illness year-to-date as employees, contractors and suppliers continued to apply personal protection measures.
Clean Air Metals' flagship asset is the 100% owned, high-grade Thunder Bay North Project, a platinum, palladium, copper, nickel project located near the city of Thunder Bay in Ontario, and the Lac des Iles Mine owned by Impala Platinum.
The Thunder Bay North Project PEA envisions a 10-year mine life at 3,600 tonnes per day with a fully discounted pretax net present value discounted at 5% of C$425 million and an IRR of 31% against initial capital of $367 million.
Contact the author at jon.hopkins@proactiveinvestors.com