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Alkane Resources appoints David Woodall to run Dubbo Project, shares up 14%

The Dubbo Project is the most advanced poly-metallic project of its kind outside China and is development-ready subject to financing.

Alkane Resources Ltd - Alkane Resources appoints David Woodall to run Dubbo Project, shares up 14%
Woodhall is a mining engineer with 30 years corporate experience in the mining industry

Alkane Resources Ltd (ASX:ALK) has appointed David Woodall as managing director of its wholly-owned subsidiary Australian Strategic Materials Ltd.

The subsidiary company was formed in 2000 to developed the Dubbo Project in New South Wales.

The construction-ready project hosts a large resource of zirconium, hafnium, niobium, tantalum, yttrium and rare earths.

Woodall will be responsible for operations, marketing, product development and external relations of Australian Strategic Materials.

This includes overseeing the joint venture with South Korea’s Zirconium Technology Corporation as well as the operation of the Toongi Pastoral Company, an agribusiness that manages the farmland at the Dubbo Project.

Alkane may demerge the Dubbo Project

Alkane’s chairman Ian Gandel said: “The Alkane board considers Australian Strategic Materials to be immensely fortunate to gain Mr Woodall’s considerable expertise in the new role of managing director.

“As announced in 2019 the Alkane Board is currently considering the demerger of Australian Strategic Materials with a decision expected in the first half of 2020.

“Mr Woodall will report to the Alkane Board until such time as the demerger is given final Board and shareholder approval.

“On approval Australian Strategic Materials will become a separate ASX-listed autonomous entity and Mr Woodall will remain as managing director but report to the Board of Australian Strategic Materials.”

Quick facts: Alkane Resources Ltd

Price: 0.625 AUD

ASX:ALK
Market: ASX
Market Cap: $362.52 m
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