Firefinch Ltd (ASX:FFX) has officially appointed Simon Hay to the position of Leo Lithium’s managing director, effective immediately.
Hay has extensive management and technical experience built up over a 30-year career in Australia and internationally.
Read: Firefinch and partner Ganfeng make final investment decision for Goulamina Lithium Project
“High return and low technical risk project”
“I am delighted to join Leo Lithium for the development of the world-class Goulamina Lithium Project,” Hays said.
“Michael Anderson and the Firefinch team have Leo Lithium poised for listing with a world-leading, high return and low technical risk project.
“The recent completion of the definitive feasibility study update delivered very robust economics, and we have a high-quality partner in Ganfeng, who are providing a funding solution and offtake support.
“The opportunity ahead of us is immense and I’m humbled to assume stewardship of an outstanding project.”
Before joining Leo Lithium, Hay was CEO of ASX-listed lithium company, Galaxy Resources Limited. The culmination of his role as CEO was the A$5 billion merger of equals with Orocobre Limited (ASX:ORE), to create the world’s fifth-largest lithium producer Allkem in mid-2021.
Hay is well regarded within the capital markets for his lithium market knowledge and the value he added to Galaxy.
Leo Lithium status
“I’m pleased to report the Goulamina Project is advancing apace on all fronts, with detailed engineering about to commence and selection of an EPCM contractor underway,” Hay continued.
“In Mali, site works are ramping up with a sterilisation drilling program in progress ahead of commencement of drilling to target conversion of inferred mineral resource to ore reserves. Early civil works will start in February.
“The preliminary project schedule has first production in H1 2024, ideally timed to supply spodumene concentrate into the booming global lithium-ion battery and EV value chain.
“I look forward to providing further detail on our plans for the Goulamina Project to investors and the market later this quarter as part of the demerger process.”
About Firefinch
Firefinch is a Mali focused gold miner and lithium developer with an 80% interest in the operating Morila Gold Mine which has produced 7.5 million ounces of gold since 2000.
The company plans to ramp up production from an annual production profile of 40,000 ounces to 200,000 ounces by re-starting mining from the main Morila pit to exploit the 2.35-million-ounce gold resource while also boosting the capacity of the 4.5 million tonnes per annum mill.