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New broom for Metallica as it gears up for silica sands project

Business

Metallica Minerals has promised a new broom approach to its management in the lead-up to the development of its Cape Slattery silica sands project in north Queensland.

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Two directors, Andrew Gillies and Scatt Waddell, have announced they will leave the board and will be replaced by Mark Bojanjac and Brad Sampson.

Gillies and Waddell will remain for a transition period to “assist in the overall company strategy and planning of executive and management appointments to expeditiously progress Cape Flattery”.

“In addition to the non-executive director appointments, Metallica is turning its attention to the additional skillset and experience required from the company’s management team,” executive chairman Theo Psaros said.

“This may result in Metallica sourcing additional experienced, skilled and talented personnel over the coming period as the company progresses development works of the Cape Flattery silica sand project.”

The project has a resource of 38 million tonnes but has scope for expansion through exploration targetting another 10 million to 60 million tonnes.

Metallica also raised $7 million earlier this year from a rights issue.

The demand for silica sands has increased with the switch to renewable energy because it is used in solar panels as well as technology products.

Metallica’s project neighbours the Mitsubishi sands mine.

 

 

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