Australian Vanadium renew board with appointment of highly regarded Cliff Lawrenson
Special Report: Australian Vanadium has renewed its board structure with the appointment of highly regarded industry professional Cliff Lawrenson as a non-executive director and non-executive chairman-elect.
Lawrenson currently holds non-executive chairman roles at Paladin Energy (ASX:PDN), the soon-to-be listed Caspin Resources (ASD: CPN), as well as private entities Pacific Energy and Onsite Rental Group.
Australian Vanadium Limited (ASX: AVL) announced Lawrenson’s addition with non-executive chairman Brenton Lewis planning to retire at the November AGM. The company believes Lawrenson’s appointment will add a depth of experience, bringing expertise in corporate strategy and execution of corporate transactions.
Lawrenson has a storied career as managing director of a number of ASX listed companies within the mining and mining services sector, before becoming managing director at Atlas Iron Ltd from 2017. Lawrenson led the company when Hancock Prospecting Pty Ltd acquired Atlas Iron.
Lawrenson has also served the role of senior executive of CMS Energy Corporation in the United States and Singapore, which was preceded by an investment banking career.
Ahead of his impending retirement, Brenton Lewis commented: “After 10 years as a director of AVL it is timely for me to retire. I am very pleased with the progress that the company and its experienced team has made with the Australian Vanadium Project.”
“I have enjoyed my time at AVL and appreciate the support I’ve had as chairman from my colleagues and the shareholders. I am confident that the team is of such quality that they will continue to maintain the necessary drive and focus to bring the project into production.”
Current directors Leslie Ingraham and Vincent Algar both reflected on Lewis’ time with the company, acknowledging the work he has done “to steer the company to its present stage”.
Algar also expanded on what they believe Lawrenson will add to Australian Vanadium Limited moving forward.
“Cliff brings a new level of corporate expertise to AVL and the breadth of his contacts, reputation and experience will assist the Company in working through the final stages of bring the Australian Vanadium Project into production,” he said.
“We are looking forward to his leadership and warmly welcome him to the board and the company.”
Lawrenson will join directors Ingraham, Algar and US-based vanadium expert Daniel Harris, saying he was “pleased to be joining the AVL Board and team at this time”.
“Vanadium is a particularly appealing strategic commodity, with several increasingly relevant applications”, Lawrenson said. “AVL has an excellent mineral resource and a team with the necessary technical rigour to move forward.”
“The Australian Vanadium Project is at an exciting time in its journey to production and I am looking forward to supporting the hardworking staff in developing the Project and the Australian vanadium market.”
The addition of Lawrenson becomes an important step as AVL advances the development of its world-class vanadium project in Western Australia.
The 100 per cent owned project consists of 11 tenements covering approximately 260sqkm and consists of high-grade vanadium-titanium-iron deposits.
The Australian Vanadium Project is currently one of the highest-grade vanadium projects being advanced globally with 208.2 megatonnes (Mt) at 0.74% vanadium pentoxide (V2O5), containing a high grade zone of 87.9Mt at 1.07% V2O5 and a Probable Reserve of 8.42Mt at 1.01% V2O5.
Australian Vanadium recently improved its financial position with a $5 million capital raising effort last month from a placement that was eagerly snapped up by investors. The additional funds will be used to advance the technical and financial aspects of project delivery, including securing environmental and other approvals.
This article was developed in collaboration with Australian Vanadium Limited, 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.