Forrestania (ASX:FRS) clinches ex-Firefinch boss at pivotal moment
February 20, 2023Forrestania Resources has appointed seasoned mining executive Michael Anderson to lead a young but highly ambitious junior precious and battery metals explorer as it ramps up the drilling of high-quality lithium targets identified in the initial stages of a comprehensive campaign at its Forrestania project in Western Australia’s south.
Mr Anderson, who will take on the dual role of Managing Director & CEO, drove lithium and gold developer Firefinch from $200m to over $1.2Bn market capitalisation under his tenure.
Before Firefinch, the PhD qualified geologist with hands-on experience in critical mineral copper, enjoyed a long and successful career with Taurus Funds Management overseeing investment into numerous late-stage resource project developments worldwide.
Forrestania Chairman John Hannaford said Mr Anderson’s appointment brings a wealth of technical, corporate and market experience to Forrestania.
“We are delighted to announce the appointment of Michael Anderson as CEO & Managing Director of Forrestania,” Mr Hannaford said.
“Michael’s extensive experience and execution capability will be a fantastic asset to the Company going forward.
“His drive and record of achievement set him apart in the market.
“We are privileged that he has agreed to join the company at this pivotal time in our short history as a listed entity, which is a testament to the quality and potential of the Company’s project portfolio.”.
A Valuable Career
As Managing Director of Exco Resources, Dr Anderson led the company to several significant achievements. These included transitioning from explorer to profitable producer through the successful development of the White Dam Gold Mine; advancement of resource development; feasibility studies and approvals for the Cloncurry Copper Project ahead of its ultimate sale to Xstrata for $175 million; numerous funding arrangements and significant share price re-rating and a five-fold increase in market capitalisation.
Forrestania Drilling Programme
Forrestania Resources commenced high-priority lithium drilling at Forrestania’s Gem/Giant pegmatite & South Iron.
Cap East following environmental approvals in December 2022.
A second lithium-focused drilling programme began in January 2023 following approval for the high-priority Gemcutter and Giant prospects.
At the Giant Pegmatite prospect, the drilling programme aims to confirm the extent of the previous high-grade intercept of 34m @ 3.1% Li2O.
Forrestania Project showing location of South Iron Cap East, Gemcutter, Giant and Bounty East
The ~5,000m RC drilling programme also tests South Iron Cap East, Gemcutter and Bounty East prospects.
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