Solis Minerals Announces Mitch Thomas Appointed as Chief Executive Officer and Mike Parker to Transition to Technical Director
Solis Minerals has appointed Mitch Thomas as its new Chief Executive Officer, expected to commence in March 2025. Thomas brings significant experience as former CFO of Latin Resources and Battery Materials for Rio Tinto, including notable work in South America and a key role in the A$0.6 billion divestment of Latin Resources' Salinas Lithium Project.
Mike Parker, current Executive Director, will transition to Technical Director, leveraging his geological expertise and previous experience as country manager for First Quantum Minerals in Peru. The company has outlined a comprehensive performance rights package for Thomas, including targets tied to continuous service, drilling programs, JORC resource establishment, and market capitalization goals.
Thomas's remuneration includes A$300,000 plus statutory superannuation. The performance rights package includes five tranches, with conditions ranging from completion of a 5,000-metre drilling programme to achieving a market capitalization of A$100m within 24 months.
Solis Minerals ha nominato Mitch Thomas come nuovo Amministratore Delegato, con inizio previsto per marzo 2025. Thomas porta con sé una significativa esperienza come ex CFO di Latin Resources e per i Materiali per Batterie di Rio Tinto, includendo un lavoro notevole in Sud America e un ruolo chiave nella dismissione di A$0,6 miliardi del progetto Salinas Lithium di Latin Resources.
Mike Parker, attuale Direttore Esecutivo, passerà a Direttore Tecnico, sfruttando la sua esperienza geologica e il precedente ruolo di country manager per First Quantum Minerals in Perù. L'azienda ha delineato un pacchetto di diritti di performance completo per Thomas, inclusi obiettivi legati al servizio continuativo, programmi di perforazione, stabilimento delle risorse JORC e obiettivi di capitalizzazione di mercato.
La remunerazione di Thomas include A$300.000 più superannuation statutaria. Il pacchetto di diritti di performance comprende cinque tranche, con condizioni che vanno dal completamento di un programma di perforazione di 5.000 metri al raggiungimento di una capitalizzazione di mercato di A$100 milioni entro 24 mesi.
Solis Minerals ha nombrado a Mitch Thomas como su nuevo Director Ejecutivo, quien comenzará en marzo de 2025. Thomas aporta una experiencia significativa como ex CFO de Latin Resources y de Materiales para Baterías de Rio Tinto, incluyendo un trabajo notable en América del Sur y un papel clave en la desinversión de A$0,6 mil millones del Proyecto de Litio Salinas de Latin Resources.
Mike Parker, actual Director Ejecutivo, pasará a ser Director Técnico, aprovechando su experiencia geológica y su experiencia previa como gerente de país para First Quantum Minerals en Perú. La empresa ha delineado un paquete integral de derechos de rendimiento para Thomas, que incluye objetivos vinculados a la continuidad del servicio, programas de perforación, establecimiento de recursos JORC y metas de capitalización de mercado.
La remuneración de Thomas incluye A$300,000 más la superannuation estatutaria. El paquete de derechos de rendimiento incluye cinco tramos, con condiciones que van desde la finalización de un programa de perforación de 5,000 metros hasta alcanzar una capitalización de mercado de A$100 millones en un plazo de 24 meses.
Solis Minerals는 Mitch Thomas를 새로운 CEO로 임명했으며, 2025년 3월에 시작될 예정이다. Thomas는 Latin Resources의 전 CFO이자 Rio Tinto의 배터리 소재 부문에서의 중요한 경험을 가지고 있으며, 남미에서의 주목할 만한 작업과 Latin Resources의 Salinas 리튬 프로젝트의 6억 호주 달러 매각에서 핵심적인 역할을 했다.
현재 전무이사인 Mike Parker는 기술 이사로 전환하여 그의 지질학적 전문성과 페루에서 First Quantum Minerals의 국가 관리자였던 이전 경험을 활용할 예정이다. 회사는 Thomas를 위해 지속적인 서비스, 시추 프로그램, JORC 자원 확립 및 시장 자본화 목표에 연계된 포괄적인 성과 권리 패키지를 설명했다.
Thomas의 보수는 A$300,000에 법정 초과 수당이 포함된다. 성과 권리 패키지는 5,000미터 시추 프로그램 완료에서 24개월 이내에 A$100백만의 시장 자본화 달성까지 다양한 조건이 포함된 다섯 개의 트랜치로 구성되어 있다.
Solis Minerals a nommé Mitch Thomas comme nouveau Directeur Général, qui devrait commencer en mars 2025. Thomas apporte une expérience significative en tant qu'ancien CFO de Latin Resources et pour les Matériaux de Batterie chez Rio Tinto, incluant un travail notable en Amérique du Sud et un rôle clé dans la cession de 0,6 milliard AUD du projet de Lithium Salinas de Latin Resources.
Mike Parker, actuel Directeur Exécutif, passera au poste de Directeur Technique, tirant parti de son expertise géologique et de son expérience précédente en tant que directeur pays pour First Quantum Minerals au Pérou. L'entreprise a défini un package complet de droits de performance pour Thomas, comprenant des objectifs liés à la continuité du service, des programmes de forage, l'établissement de ressources JORC et des objectifs de capitalisation boursière.
La rémunération de Thomas comprend 300 000 AUD plus la superannuation statutaire. Le package de droits de performance comprend cinq tranches, avec des conditions allant de l'achèvement d'un programme de forage de 5 000 mètres à l'atteinte d'une capitalisation boursière de 100 millions AUD dans un délai de 24 mois.
Solis Minerals hat Mitch Thomas als neuen CEO ernannt, der voraussichtlich im März 2025 beginnen wird. Thomas bringt umfangreiche Erfahrung als ehemaliger CFO von Latin Resources und für Batteriematerialien bei Rio Tinto mit, einschließlich bemerkenswerter Arbeiten in Südamerika und einer Schlüsselrolle beim Verkauf des Salinas-Lithiumprojekts von Latin Resources im Wert von 0,6 Milliarden AUD.
Mike Parker, der derzeitige Executive Director, wird zum Technical Director wechseln und seine geologischen Kenntnisse sowie seine frühere Erfahrung als Country Manager für First Quantum Minerals in Peru nutzen. Das Unternehmen hat ein umfassendes Paket an Leistungsrechten für Thomas skizziert, das Ziele umfasst, die an die kontinuierliche Dienstzeit, Bohrprogramme, die Etablierung von JORC-Ressourcen und Ziele zur Marktkapitalisierung gebunden sind.
Thomas' Vergütung umfasst 300.000 AUD zuzüglich gesetzlicher Superannuation. Das Paket an Leistungsrechten umfasst fünf Tranchen, wobei die Bedingungen von der Durchführung eines 5.000-Meter-Bohrprogramms bis zur Erreichung einer Marktkapitalisierung von 100 Millionen AUD innerhalb von 24 Monaten reichen.
- Appointment of experienced executive with South American mining expertise
- Structured performance incentives aligned with company growth targets
- Retention of Mike Parker's technical expertise in new role
- Clear drilling and resource development targets established
- Significant performance-based compensation could lead to dilution if targets are met
Perth, Western Australia--(Newsfile Corp. - February 11, 2025) - Solis Minerals Limited (ASX: SLM) (TSXV: SLMN) ("Solis Minerals") is pleased to announce the appointment of Mitch Thomas as Chief Executive Officer.
As the former Chief Financial Officer of Latin Resources Limited (ASX: LRS) ("Latin Resources") and CFO Battery Materials for Rio Tinto (ASX: RIO), Mitch has deep corporate, commercial and project development experience. Additionally, he has worked extensively in South America, including three years in Peru working for Rio Tinto supporting the La Granja copper project. He worked in Rio Tinto's London M&A team focussed on copper. More recently, he played an instrumental role in the divestment of Latin Resources' Salinas Lithium Project in Brazil to Pilbara Minerals Limited (ASX: PLS) for A
Mike Parker, who has been an Executive Director since August 2024, will transition his directorship to a predominant technical focus. Mike is a geologist by training and has been a member of the AusIMM for 16 years. He held senior country manager positions with First Quantum Minerals (TSX: FM) and was responsible for two major copper discoveries: the Lonshi and Frontier Copper Mines. From 2011 to 2017, Mike was country manager for FQM in Peru, responsible for the design and implementation of FQM's corporate strategy in Latin America. Mike has a BSc Mining Geology (Honours), University of Leicester, UK.
Formal commencement is expected in March 2025.
Non-Executive Chairman Chris Gale commented:
"We are delighted to welcome Mitch Thomas to Solis Minerals. Mitch has a proven track record of supporting early-stage and large-scale mining projects in South America to deliver shareholder value. We are very excited about the extensive drilling campaign in 2025 that will take place across our copper-rich tenement package in southern Peru. We are confident that Mitch, Mike Parker and the whole Solis team, will position Solis Minerals for success in 2025 and beyond.
We also thank Mike Parker for his leadership over the past six months and for accepting the position of Technical Director in Peru. The extensive work in identifying drill-ready targets and adding more tenements to our now 66kha tenement package in southern Peru has placed Solis Minerals in a commanding position in what is one of the most attractive copper provinces globally."
1 Refer to LRS:ASX announcement dated 14 August 2024. Value quoted at time of announcement.
Appendix 1
Summary of Key Terms and Conditions:
Position: Chief Executive Officer of Solis Minerals.
Commencement: expected March 2025.
Term: ongoing basis with termination notice provisions and probation period.
Remuneration: A
$300,000 plus statutory superannuation contributions.
A performance rights package has been agreed on the following vesting conditions and subject to shareholder approval. All performance rights have an expiry date of three years from the date of issue. The performance rights package is subject to TSX Venture Exchange review and approval.
| Tranche | Performance rights | Vesting conditions |
| Tranche 1 | 500,000 | 12-months continuous service. |
| Tranche 2 | 500,000 | Drilling programme completed in Peru of at least 5,000 metres within 12 months. |
| Tranche 3 | 1,000,000 | Maiden JORC resource released to the market of 125,000t at a copper equivalent grade of at least |
| Tranche 4 | 1,000,000 | 24-months continuous service and total shareholder return > |
| Tranche 5 | 3,000,000 | Obtain a market capitalisation of A |
ENDS
This announcement is authorised by Mitch Thomas, CEO of Solis Minerals Ltd.
| Contact Mitch Thomas CEO Solis Minerals Limited +61 8 6117 4795 | Media & Broker Enquiries: Fiona Marshall & Jason Mack White Noise Communications fiona@whitenoisecomms.com jason@whitenoisecomms.com +61 400 512 109 |
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.
About Solis Minerals Limited
Solis Minerals is an emerging exploration company, focused on unlocking the potential of its South American copper portfolio. The Company is building a significant copper portfolio around its core tenements of Ilo Este and Ilo Norte and elsewhere in the Coastal Belt of Peru and currently holds 81 exploration concessions for a total of 69,200Ha (46 concessions granted with 35 applications in process).
The Company is led by a highly-credentialled and proven team with excellent experience across the mining lifecycle in South America. Solis is actively considering a range of copper opportunities. South America is a key player in the global export market for copper and Solis, under its leadership team, is strategically positioned to capitalise on growth the opportunities within this mineral-rich region.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/240494
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