- Lithium Consolidated (Li3) has appointed Don Smith as the company’s new Managing Director and CEO, effective immediately
- He will take over from Andrew Haythorpe, who has acted as interim Managing Director and CEO since October 2019
- Don brought new exploration grounds to Li3, and will continue to develop such projects in his new role
- The company will pay Don a base salary of $240,000 per year, including super
- Lithium Consolidated is trading flat this morning for 1.8 cents per share
Lithium Consolidated (Li3) has appointed Don Smith as the company’s new Managing Director and CEO, effective immediately.
In January of this year, the company appointed Don as a company director. In addition to his role at Li3, he is also currently involved with several start-ups, and works as a consultant.
Don is a geologist and entrepreneur, with over 20 years of international experience in the mining industry. He has worked in operational, development, exploration and consultant roles for companies of every size. Don has served in junior firms and multinational firms, dealing in commodities including base metals, precious metals, and energy minerals.
He will take over from Andrew Haythorpe, who has acted as interim Managing Director and CEO since October 2019. Andrew will remain with the company as a non-Executive Director.
Li3’s Chairman, Brian Moller, said the company was delighted to announce Don’s full-time appointment.
“Don has been instrumental in bringing Warrigal Mining Pty Ltd and its Western Australian exploration ground to Li3. We look forward to him progressing these projects in the best interests of all shareholders.
“I also express my thanks to Andrew Haythorpe for his valuable contribution. He has assisted the company through a difficult and challenging time over the past six months,” he added.
Under the agreement terms, Li3 will pay the new CEO a base salary of $240,000 per year (including super). The appointment does not include any short-term or long-term incentives.
Both the company and Don have the ability to terminate the agreement on two months’ notice.
Lithium Consolidated is trading flat this morning for 1.8 cents per share at 10:09 am AEST.