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Danakali bolsters board with mining technical and project finance experience

Neil Gregson has been appointed as a non-executive director while Paul Donaldson and Andre Liebenberg have resigned as directors.

Danakali Ltd - Danakali bolsters board with mining technical and project finance experience
Former CEO Paul Donaldson will become a senior consultant to the company

Danakali Ltd (ASX:DNK) (LON:DNK) (OTCMKTS:SBMSF) has strengthened its board with technical mining and international investment experience through the appointment of Neil Gregson as a non-executive director.

Gregson is a qualified mining engineer with deep experience in the resources sector and he has more than 30 years of experience as an investment manager predominantly in the mining and energy sectors.

Board transition

The appointment comes as part of a board transition as the company moves towards development of the world-class Colluli Sulphate of Potash (SOP) Project in Eritrea.

This process has also seen the retirement of Paul Donaldson and Andre Liebenberg as directors although Donaldson will remain actively engaged with Danakali as a senior consultant.

"Exciting time"

Danakali chairman Seamus Cornelius said: “I am very pleased that Neil Gregson with his wealth of experience in mining and project finance has agreed to join the Danakali board at a very exciting time for the company.

"We look forward to benefitting from Neil’s involvement as we complete the funding package and bring the Colluli project into production as quickly and safely as possible for the benefit of all stakeholders."

Gregson’s most recent role was as portfolio manager at JP Morgan Asset Management Global Equities Team based in London where he was responsible for global natural resources mandates.

He held prior investment management roles at CQS Asset Management as a senior portfolio manager focused on natural resources and at Credit Suisse as head of Emerging Markets and related sector funds.

Former company CEO

Donaldson has been a highly valued board member and previously held the role as CEO of Danakali.

He was instrumental in guiding the company through the early study stages of its development and the high-quality comprehensive FEED study and was closely involved in establishing the Colluli Mining Share Company (CMSC).

He has been a valuable resource to the company and will continue to provide his expertise.

Liebenberg has been a valued board member and a significant contributor to the company in the development of the Colluli SOP Project throughout his tenure as non-executive director.

His contribution and selfless support from his appointment through to his retirement has been of the highest calibre.

"Valuable contributions"

Cornelius said: "Paul and Andre’s contributions to the company have been very valuable throughout their tenure as non-executive directors. They both brought extensive experience and sound judgement to the company.

"On behalf of the company we wish Andre all the very best in the future and I personally express my sincere thanks for his support, guidance and friendship. I am excited about continuing to work with Paul and look forward to his ongoing contributions.

"Board transition is an integral part of our company’s development and a key enabler for its growth and success.”

Quick facts: Danakali Ltd

Price: 0.55 AUD

Market: ASX
Market Cap: $175.83 m

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