Bouchart is ideally suited to the position having held executive positions in the mining industry for 26 years.
Importantly, Bouchart brings experience in exploration, development and production, much of it across the copper and cobalt commodities.
Sage highlights Bouchart’s experience
Tony Sage, chairman, said: “Phillipe Bouchart brings an incredible amount of experience to the role and has worked for over 15 years in the Democratic Republic of the Congo.
He has extensive experience with cobalt projects and on constructing and optimising metallurgical plants to maximise cobalt recoveries and returns.
I look forward to seeing the progress Mr Bouchart makes and in developing the Kasombo Project.”
As well as attracting high profile management, the Kasombo project has drawn interest from the investment community.
Fe Limited’s entry is well timed
In July 2017, FEL entered in to a binding Terms Sheet with Cape Lambert Resources Limited (ASX:CFE).
Under the agreement CFE was to assign to Fe Limited 100% of the rights and obligations it has in Kasombo project.
Since the binding term sheet was signed off the cobalt price has increased circa 50%, recently passing US$80,000 per tonne.
Kasombo provides substantial exposure
The Kasombo Project comprises three mineralized areas of approximately 600 hectares.
It is situated approximately 25 kilometres from the Democratic Republic of the Congo’s second largest city, Lubumbashi, in the Katanga Copper Belt.