Core Lithium Ltd (ASX:CXO) will say goodbye to chief financial officer (CFO) Simon Iacopetta after four years of service.
Iacopetta has been with the company since 2019 and chose to step down after steering the financial side of the business through the successful transition from an exploration company to financing of the Finniss project.
With first production transported to the Darwin Port earlier this month, the Finniss Project places Core at the front of the line of new global lithium production.
Finniss has been awarded Major Project Status by the Australian Federal Government, is one of the most capital-efficient lithium projects and an excellent logistics chain to markets of any Australian lithium project.
It is hoped the Finniss Project will provide the globe with high-grade and high-quality lithium suitable for lithium batteries used to power electric vehicles and renewable energy storage.
Iacopetta’s hard work led to the official opening of the mine in October 2022.
Iacopetta will work with the Core team over the coming months to support an orderly transition.
“My tenure at Core Lithium has been the highlight of my career to date. It has been hugely rewarding to see the company move from an exploration opportunity to a project and now an operating mine," Iacopetta said.
"Securing the recent capital funding will underpin the development of future growth options for Core and I am pleased to be leaving the business in very sound financial shape.”
Robust shape
The business is in robust financial shape, with the first lithium shipment, direct shipping ore (DSO), due by year-end. Spodumene concentrate production is on schedule for H1 2023.
The recent successful capital raise led by Iacopetta will also underpin future growth options for the business.
“While disappointed when Simon told me of his decision, I appreciate and acknowledge his hard work over the past four years and the rapid progress Simon and the Core team have made to develop the Finniss mining operation,’ Core CEO Gareth Manderson CEO.
“As a result of his efforts, the business is in very sound financial shape and is well placed to begin working on the development of future growth options. We thank Simon for his strong contribution and leadership at Core and wish him all the best for the future.”