Critical Elements appoints Ex Rockwood Lithium CFO to the Board of Directors
June 5, 2017 (Source) – Critical Elements Corporation (the “Corporation” or “Critical Elements”) (TSX-V: CRE) (US OTCQX: CRECF) (FSE: F12) is pleased to announce the appointment of Dr. Marcus Brune to the board of directors.
Dr. Brune is well known in the lithium industry, having been Chief Financial Officer of Rockwood Lithium from 2011 up until it was acquired by Albemarle for $6.2 billion in January 2015. He left Albemarle in 2016 once the lithium business was successfully integrated into Albemarle‘s organizational structure.
Prior to joining Rockwood Lithium, Dr. Brune had worked in different executive positions in corporate finance and M&A for Rockwood Holdings and its predecessor companies since 2004. Prior to that, he was with McKinsey as a strategy consultant for organizational development and management.
Dr. Brune completed his doctorate in material sciences at the Technical University of Dortmund, Germany, after earning a physics degree.
“The Board of Directors and the team at Critical Elements Corporation are delighted to welcome Dr. Marcus Brune,” said Steffen Haber, President and director. “The addition of Marcus, a former member of my executive team at Rockwood, is another important step in the Corporation’s development. With his exceptional background in the industry, he will provide the team with important input for the structuring of project financing.”
“I am very enthusiastic about joining the very talented, dynamic team at Critical Elements. The fast growing lithium market is in great need of new sources of supply, and the development of the Rose lithium tantalum project is our focus for success,” added Dr. Marcus Brune.
About Critical Elements Corporation
A recent financial analysis (Technical Report and Preliminary Economic Assessment (PEA) on the Rose lithium-tantalum Project, Genivar, December 2011) of the Rose project, 100% owned by Critical Elements, based on price forecasts of US $260/kg ($118/lb) for Ta2O5 contained in a tantalite concentrate and US $6,000/t for lithium carbonate (Li2CO3) showed an estimated after-tax Internal Rate of Return (IRR) of 25% for the Rose project, with an estimated Net Present Value (NPV) of CA $279 million at an 8% discount rate. The payback period is estimated at 4.1 years. The pre-tax IRR is estimated at 33% and the NPV at CA $488 million at a discount rate of 8%. (Mineral resources are not mineral reserves and do not have demonstrated economic viability). (The preliminary economic assessment is preliminary in nature). (See press release dated November 21, 2011.) The PEA includes inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves and there is no certainty that the preliminary economic assessment will be realized.
The conclusions of the PEA indicate that the operation would support a production rate of 26,606 tons of high purity (99.9% battery grade) Li2CO3 and 206,670 pounds of Ta2O5 per year over a 17-year mine life.
The project hosts a current Indicated resource of 26.5 million tonnes of 1.30% Li2O Eq. or 0.98% Li2O and 163 ppm Ta2O5 and an Inferred resource of 10.7 million tonnes of 1.14% Li2O Eq. or 0.86% Li2O and 145 ppm Ta2O5.
FOR MORE INFORMATION:
Jean-Sébastien Lavallée, P.Geo.
Chairman and Chief Executive Officer
Paradox Public Relations
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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