Comet Resources Welcomes New Non-Exec

THE BOURSE WHISPERER: Comet Resources (ASX: CRL) has appointed Alex Molyneux as a non-executive director of the Company.

Comet Resources said it was pleased to welcome Molyneux and his skills and experience, particularly with respect to strategic partnerships and project financing within the mining and metals sector, as it transitions to the next phase of development of the company’s 100 per cent-owned Springdale graphite project, located east of Hopetoun in Western Australia.

Molyneux has plenty of runs on the board as a metals and mining industry executive and financier.

He is currently CEO of Galena Mining (ASX: G1A), which just over two weeks ago announced a $90 million project equity investment from Toho Zinc of Japan, for a 40 per cent ownership interest it’s Abra base metals project.

Prior to Galena, Molyneux spent three-years as CEO of Paladin Energy (ASX: PDN), where he completed a US$700 million recapitalisation including raising US$115 million in new capital and a re-listing of the company on the ASX.

This was after a five-year stint with Ivanhoe Mines Group and Ivanhoe Energy in various leadership capacities.

“I believe strongly in high-quality mineral projects where the relevant commodities are in shortage or are likely to benefit from technological change,” Molyneux said in Comet Resources’ announcement to the Australian Securities Exchange.

“In the case of Comet, I believe its Springdale graphite project is a high-quality graphite project but with the unique benefit that it supports electrochemical exfoliation of graphene.

“In my view, graphene is something we will hear a lot more about in the coming years because of its ideal properties for next-generation electronics.”