ioneer Ltd (ioneer or the Company) (ASX: INR), an emerging lithium-boron supplier, is pleased to announce current Chairman James D. Calaway has been appointed an executive of the Company for a 12-month period, effective 1 July 2020.
During the past year, Mr Calaway’s contributions to the Company have exceeded the duties typical of a non-executive chairman. He has invested an increasingly significant amount of time in sales and marketing efforts, the delivery and marketing of the Definitive Feasibility Study and activities associated with the funding the Company’s wholly-owned Rhyolite Ridge Lithium-Boron Project (Project) in Nevada and related strategic partnering discussions.
As previously disclosed, in financial year 2020, Mr Calaway was paid a ‘special exertion fee’ to compensate for what was considered a short-term undertaking of supporting the small management team in these activities. With the impact of COVID-19, travel restrictions on
Australian based staff and an extended schedule, it became apparent that Mr Calaway’s continued efforts would be required through financial year 2021.
In his new position, Mr Calaway will continue his detailed involvement in the Company and lead efforts to secure project partners and funding commitments for the Project.
US-based Mr Calaway is a respected businessman and has been Chairman of ioneer since 2017. Mr. Calaway served for eight years as Non-Executive Chairman of lithium producer Orocobre Ltd, leading it from early development phase into production. He has assisted several private and public companies through critical growth stages to become successful commercial operations. He is currently Chairman of Distributed Power Partners Inc, a distributed power development company.
Managing Director Bernard Rowe said: “We welcome the appointment of James to the position of an executive of ioneer, which in many regards reflects the role James has already been undertaking. His continued hands-on approach will serve ioneer well over the next 12 months, and as such we see this employment agreement as a strategic investment for the Company as we move through this critical stage to secure project financing and strategic partners to bring Rhyolite Ridge online. At a leadership level, it gives us a stronger presence in the US as we continue to increase our activities there, notably while international travel restrictions persist.”
The Nomination and Remuneration Committee of the Company has approved the appointment of Mr Calaway as an executive of the Company and the entry into an executive employment contract with Mr Calaway.
In accordance with ASX Listing Rule 3.16.4, the material terms of the employment arrangement for Mr Calaway’s executive capacity are as follows:
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