Core spikes on CFO departure

Core Lithium (ASX:CXO) shares have surged almost 9 per cent on news of the departure of the Company’s CFO, Simon Iacopetta.

Mr Iacopetta will remain in a supporting capacity. At the same time, executive search company Korn Ferry seeks a replacement for the successful financial captain who has overseen the transition from an exploration company to the financing of the Finniss project that has led to the official opening of the mine in October of this year.

News of the departure has seen CXO shares rise 8.98 per cent to a record high of $1.82 in early morning trade.

“My tenure at Core Lithium has been the highlight of my career to date.

“It has been hugely rewarding to see the Company move from an exploration opportunity to a project and now an operating mine.

“Securing the recent capital funding will underpin the development of future growth options for Core and I am
pleased to be leaving the business in very sound financial shape.”

CEO Gareth Manderson said he was disappointed by the decision.

“I appreciate and acknowledge his hard work over the past four years and the rapid
progress Simon and the Core team have made to develop the Finniss mining
operation,” he said.

Meanwhile, the Company’s e first lithium shipment remains on schedule for H1 2023.

About Core Lithium

About Core Lithium. Core Lithium is building Australia’s newest and most advanced
lithium project on the ASX, the Finniss Project in the Northern Territory. With the first
production transported to the Darwin Port in November 2022, the Finniss Project
places Core Lithium at the front of the new global lithium production line.
The Australian Federal has awarded Finniss Major Project Status.
Government is one of the most capital-efficient lithium projects and has arguably
the best logistics chain to markets of any Australian lithium project.
The Finniss Project will provide the globe with high-grade and high-quality lithium
suitable for lithium batteries used to power electric vehicles and renewable energy
storage.

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