African Thunder Platinum Appoints Brett Richards as Chief Executive Officer
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African Thunder Platinum Limited (ATP) has appointed Brett A. Richards as its chief executive officer with immediate effect.
Currently based in London, Brett Richards is a well-known mining executive with more than 30 years’ experience in mining and metals. He brings publicly listed CEO experience in both Toronto and London, and has focused primarily on projects in Africa over the past 10 years. Richards has acted or advised on a multitude of corporate M&A projects, and has extensive mine project development and rehabilitation, mine financing and senior level operations experience. Most recently, Richards was the CEO of Octea Limited from 2012 to 2015, a private West African mining company, and prior to that served as the interim CEO of Roxgold in 2012, and was the CEO of Avocet Mining from 2009 to 2012 — both listed companies with gold operations in Burkina Faso, West Africa. Richards has held other senior executive and management positions at a variety of publicly traded companies including Katanga Mining Limited, Kinross Gold and Co-Steel Inc.
The board of directors of ATP has mandated Richards to advance plans for the re-start of the underground mine at the Smokey Hills Mine and the development of the Kalplats project towards production, while exploring strategic acquisitions and other joint venture opportunities.
ATP expects to allocate new funds to capitalize the optimization of mine production at the Smokey Hills Mine prior to re-opening the mine. It will do this by investigating means of increasing equipment efficiency, exploring possible open pit scenarios and other opportunities to maximise the plant capacity through tolling from other new sources of external ore. ATP has proven to be a lower half cash cost producer to its peers when operating at capacity, and is confident that it can further lower its operating costs by optimising and maximising its plant capacity. ATP will also allocate appropriate funds to advance the Kalplats project towards a definitive bankable feasibility study.
At this time, ATP will also be conducting an evaluation of a number of potential business combinations to build a strong, platinum mid-tier producer in both the Bushveld and Limpopo Region and the North West Province of South Africa.
About African Thunder Platinum Limited
African Thunder Platinum Limited is an emerging PGM producer with its properties located in South Africa. Its flagship Smokey Hills Mine is located on the Eastern Limb of the Bushveld Complex in South Africa. The mine site is well-serviced by local infrastructure and is easily accessible by paved road, with water and grid power to site, plus additional standby diesel generating capacity to provide back-up power as needed. In addition, ATP also owns a 49 percent interest in the advanced Kalplats project, a unique shallow platinum-palladium resource project located in the Kraaipan Greenstone Belt west of Johannesburg which is geologically distinct from the Bushveld-type deposits typical of South Africa, and will be mined from surface for a long mine life.
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