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RareX (ASX:REE) appoints John Young as Non-Executive Chairman
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  • Following an extensive search Mr John Young has been appointed to the Board as Non-Executive Chairman
  • John will be replacing Scott Patrizi who has resigned from the company
  • Upon appointment, John will be issued with six million unquoted options exercisable at $0.0607, expiring on December 22, 2022
  • On market close RareX's share price is down a slight 2.78 per cent with shares trading for 3.5 cents apiece

Following an extensive search, RareX (REE) has appointed Mr John Young to the Board as Non-Executive Chairman.

John is a highly experienced geologist who was the co-founder and Executive Director of successful ASX200 company Pilbara Minerals.

He played a critical role in growing Pilbara from a junior ASX-listed company to a globally significant, $2 billion lithium producer in the Pilbara region of Western Australia.

Currently, John serves as a Non-Executive Director of Bardoc Gold and Trek Metals.

"I am delighted to join RareX as it seeks to quickly develop the Cummins Range Rare Earths Project," John said.

"Like lithium, rare earths are critical to the manufacture of electric vehicles and I believe that the rare earths industry is currently in a similar position as lithium was earlier last decade," he added.

Upon appointment, John will be issued with six million unquoted options exercisable at $0.0607, expiring on December 22, 2022 and will be issued without shareholder approval.

John will be replacing Scott Patrizi who has resigned from the company.

Scott is a corporate finance professional who was previously employed with Deloitte Touche Tohmatsu in Perth in a role which he worked across a range of industries including mining, oil and gas, education, and healthcare.

Prior to this role he worked for Argonaut, an advisory, stockbroking and research and investment house, focused in clients in the natural resources sector.

On market close RareX's share price is down a slight 2.78 per cent with shares trading for 3.5 cents apiece in a $11.22 million market cap.

REE by the numbers
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