Sandfire Resources America Announces Appointment of Chief Executive Officer and Chief Financial Officer

Rhea-AI Summary

Sandfire Resources America has appointed Lincoln Greenidge as the new CEO, effective immediately, succeeding Rob Scargill, who remains a director on the Board. Greenidge, a seasoned mining executive with a background in global companies, was the CFO for the past year and aims to advance the Black Butte Copper Project. He emphasizes copper’s importance in energy technologies. Alongside Greenidge, Sabino Di Paola has been appointed as CFO, bringing over 15 years of finance experience. The company acknowledges potential risks ahead, including regulatory hurdles and exploration challenges.

Positive

• Appointment of Lincoln Greenidge as CEO expected to bring fresh leadership and strategic focus.
• Greenidge's prior experience as CFO may ensure continuity in the company's strategic direction.
• Appointment of Sabino Di Paola as CFO introduces additional financial expertise.

Negative

• Concerns regarding continuity with the resignation of former CEO Rob Scargill.
• Potential risks related to regulatory approvals and project execution that may affect timelines and outcomes.

WHITE SULPHUR SPRINGS, Mont., March 29, 2023 (GLOBE NEWSWIRE) -- Sandfire Resources America Inc. ("Sandfire America" or the "Company") is pleased to announce that highly experienced mining executive, Mr. Lincoln Greenidge, has been appointed as the new Chief Executive Officer (CEO) of the Company.

Mr. Greenidge, who joined the Company in January of 2022 and has served as the Company’s CFO for the last year shared, “Thank you to the Board for the opportunity to lead this amazing team, as we continue to focus on the key priorities ahead of us. Copper remains a necessary metal required for the advancement of energy technologies and infrastructure globally and I look forward to Black Butte Copper’s steady progression to establishing the Company as a respected copper producer and contributor to the mining industry for years to come.”

Throughout his career Mr. Greenidge has worked for global companies including Nortel Networks, MDS, Associated Brands, IAMGOLD, HudBay Minerals, Enirgi Group, LeadFX, LSC Lithium, and Pasofino Gold. In 2021, Mr. Greenidge was selected as the Top Chief Financial Officer of the Decade by the International Association of Top Professionals (IAOTP).

“After working with Lincoln Greenidge for the last year, his professionalism and commitment to our project and the mining industry are inspiring. We look forward to continuing our work with Mr. Greenidge as CEO and propelling the Black Butte Copper project forward to the next stages of development," shared Sandfire America’s Board Chair, Matt Fitzgerald.

Mr. Greenidge replaces Mr. Rob Scargill who has resigned as the Company’s CEO. While Mr. Scargill is no longer an executive of the Company, he will continue to support the project by remaining on the Sandfire America Board as a director. The Company wishes to thank Mr. Scargill for his contributions as CEO.

With Mr. Greenidge moving into the CEO role, the Board has appointed Sabino Di Paola to the role of CFO. Mr. Di Paola is a Chartered Professional Accountant with over 15 years of public company and finance experience. Mr. Di Paola brings cross-industry experience in raising capital, strategic business planning, regulatory compliance, and corporate governance. He has been the CFO for publicly traded companies operating within the mineral exploration and natural resources, natural health, biotech pharmaceutical and infrastructure sectors.

Contact Information:
Sandfire Resources America Inc.
Nancy Schlepp, VP of Communications
Mobile: 406-224-8180
Office: 406-547-3466
Email: nschlepp@sandfireamerica.com

Cautionary Note Regarding Forward-Looking Statements: Certain disclosures in this document constitute “forward looking information” within the meaning of Canadian securities legislation, including statements regarding the advancement of the Black Butte Copper Project and expected outcomes. In making these forward-looking statements, the Company has applied certain factors and assumptions that the Company believes are reasonable, including that the Company will receive required regulatory approvals, that the Company will continue to be able to access sufficient funding to execute its plans, and that the results of exploration and development activities are consistent with management’s expectations. However, the forward-looking statements in this document are subject to numerous risks, uncertainties and other factors, including factors relating to the Company’s operation as a mineral exploration and development company, the inherent risks involved in the exploration and development of mineral properties and the Black Butte Copper Project, the uncertainties involved in interpreting drill results and other exploration data and the geology, grade and continuity of mineral deposits, that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including that results of exploration and development activities will not be consistent with management’s expectations, delays in obtaining or inability to obtain required government or other regulatory approvals or financing, currency fluctuations, the possibility of project cost overruns or unanticipated costs and expenses, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, the possibility of project cost overruns or unanticipated costs and expenses, competition and loss of key employees, failure of plant, equipment or processes to operate as anticipated, the risk of accidents, labor disputes, inclement or hazardous weather conditions, unusual or unexpected geological conditions, ground control problems, earthquakes, flooding and all of the other risks generally associated with the development of mining facilities. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

FAQ

Who is the new CEO of Sandfire Resources America?

Lincoln Greenidge has been appointed as the new CEO of Sandfire Resources America.

What is the significance of the Black Butte Copper Project?

The Black Butte Copper Project is crucial for Sandfire Resources America as it aims to establish the company as a respected copper producer.

What are the potential risks mentioned in the press release?

The press release highlights risks related to regulatory approvals, project execution, and exploration challenges.

What experience does Lincoln Greenidge have?

Lincoln Greenidge has extensive experience in the mining sector, having worked with various global companies and served as CFO for Sandfire America.

Who replaces Lincoln Greenidge as CFO?

Sabino Di Paola has been appointed as the new CFO, bringing over 15 years of finance experience.