Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Adrian Griffin will retire from his position as Managing Director of Lithium Australia (LIT), effective from May 31
  • His retirement is in response to the company’s entry into a “new, exciting” phase of development in its lithium ferro phosphate (LFT) cathode powder production and battery recycling business divisions
  • He will take on a newly created position as technical advisor to the company, effective June 1
  • In his new role, he will continue to provide the company with the benefits of his broad technical and process-level expertise on a consulting basis
  • LIT shares hold steady at 9.2 cents as of 10:04 am AEST.

Adrian Griffin will retire from his position as Managing Director of Lithium Australia (LIT), effective from May 31.

His retirement was in response to the company’s entry into a “new, exciting” phase of development in its lithium ferro phosphate (LFT) cathode powder production and battery recycling business divisions.

He will, however, take on a newly created position as technical advisor to the company, effective June 1.

In his new role, he will continue to provide the company with the benefits of his broad technical and process-level expertise on a consulting basis.

During his time as Managing Director, Mr Griffin was instrumental in repositioning the company from a junior lithium-focused explorer, Cobre Montana, to a technological entity with a new name and focus — developing an ethical, secure and sustainable circular battery economy.

As a result of this repositioning, shareholder value in the company has increased
significantly, increasing market capitalisation from $1.4 million in September 2014 to approximately $86 million in May 2022.

“I’m extremely proud of what I, together with entire the Lithium Australia team, have achieved in the past decade and excited for what the Company’s future holds,” Mr Griffin said.

“Our significant investment in IP … will potentially enable ESG solutions for the mining, processing and battery industries and deliver better outcomes for the environment as we progress towards a zero-carbon economy.

“Our business divisions will, I strongly believe, drive growth and value for shareholders
and, as a significant shareholder myself, I will be pleased to see that.”

The Board had identified the production of LFP cathode powder for new-generation
lithium-ion batteries as the company’s most significant commercial opportunity.

In light of that, an accelerated strategy was developed and realised through planned
construction of a pre-qualification LFP pilot plant likely to be located in Queensland, underpinned by the strong industry support required for offtake development.

LIT shares held steady at 9.2 cents as of 10:04 am AEST.

LIT by the numbers
More From The Market Herald
Critical Resources (ASX:CRR) - Managing Director, Alex Biggs

" Critical Resources (ASX:CRR) completes 5000m Mavis Lake drill program

Critical Resources (ASX:CRR) has completed the inaugural 5000-metre drilling program at its Mavis Lake lithium project…

" Chalice Mining (ASX:CHN) intersects new zone at Dampier, Julimar

Chalice Mining (ASX:CHN) intersects a new nickel-copper-platinum group elements (PGE) sulphide zone in initial drilling at…
The Market Herald Video

" Genmin (ASX:GEN) strikes royalty deal with Anglo American over Baniaka project, Gabon

Genmin (ASX:GEN) has struck a royalty agreement with Anglo American's subsidiary, Anglo American Marketing, over the…
The Market Herald Video

" Great Boulder Resources (ASX:GBR) hits “spectacular” intercept at Mulga Bill

Great Boulder Resources (ASX:GBR) has received assays from the final two diamond holes drilled at the…