As it gets closer to becoming a US-based company American Rare Earths has named its new CEO, Donald S. Swartz II, who will step into the role tomorrow (1 August).

Swartz will lead the American Rare Earths (ASX: ARR) team from its new corporate headquarters in Denver, Colorado, the location chosen due to its proximity to ARR’s flagship Halleck Creek project just over the state border in Wyoming.

Leader for pivotal phase

Mr Swartz was selected for the key role thanks to his 20-plus years’ leadership experience in the US and international resources sector. During that time he’s built a strong track record in developing and executing strategies resulting in new business opportunities with significant revenue growth.

Chairman Creagh O’Connor said: “Donald is the right leader for American Rare Earths to lead the company at this critical time.

“His extensive experience in mining and as a proven leader will be invaluable as we develop and execute our plans to capitalise on the tremendous value inherent in ARR’s rare earth operations in the US.

“Donald will report directly to the Board and work with Mel Sanderson, President North America, to lead the company in the next phase of development.”

Mr Swartz said he was excited to be joining American Rare Earths at this crucial stage of its development.

“The company is uniquely positioned to take a lead in the development of rare earths in the US and become a prominent leader in the global rare earths market,” he said.

“I look forward to driving the commercialisation of the Company’s significant rare earth assets and working, along with Mel, to make American Rare Earths a successful company.”

Before joining American Rare Earths, Swartz was Senior Vice President for Vista Energy Holdings, which developed two mining projects, both now fully operational in Alberta and Nova Scotia in Canada. He holds a Master of Business Administration from Denver University and a Bachelor of Science in Mining Engineering from West Virginia University.

American Rare Earths

Safe hands, smooth handover

Mr O’Connor thanked outgoing CEO Chris Gibbs for his efforts in advancing the world-class Halleck Creek project through the Maiden JORC Resource process and fast-tracking further exploration in that region.

“We look forward to him continuing as a Non-Executive Director and on behalf of the Board and all staff, I wish him the very best as he chooses to spend more time with his growing family in Australia. His extensive knowledge and North American mining expertise will also assist Mr Swartz in the transition.”

The appointment of Mr Swartz follows the naming earlier this month of new US-based CFO, Mr Jose Rico, as part of the Denver-based management team. Mr Rico joins with more than 22 years of corporate finance and accounting experience across both US and international operations.

ARR also announced three new US-based directors early in the month as part of its commitment to establish a stronger presence in the US and leverage the immense opportunities there. They include building ARR’s involvement in government supported R&D projects that are developing a sustainable supply chain for the American market and reducing its dependence on China for minerals critical to the clean energy transition.

All set for transformation

Mr Swartz will step into his role less than a week after ARR announced it had staked 37 federal lode claims covering 303 hectares at a new high-grade rare earth deposit north of Halleck Creek. ARR has also lodged applications for another 259 hectares. The deposit, which offers possible synergies with Halleck Creek, is open at depth and along strike.

The new claims additionally have very similar geological characteristics to Halleck Creek, which has potential to be one of the largest in North America.

The company is now looking forward to doing more exploration in the new areas, as well as revving up the drills again in Halleck Creek given more than 75% of that deposit has not yet been investigated.

As outlined in its June Quarterly report released last week, ARR is very well funded for its planned FY24 activities with AUD$12.485m cash and no current requirement to raise capital.

Alongside the exploration efforts, ARR’s is moving ahead with upgrading the OTC listing and NASDAQ application to help cement its presence in the US and tap into growing investor interest in rare earths within those markets.

 

 

 

This article was developed in collaboration with American Rare Earths, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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