Australian Vanadium Ltd (ASX:AVL) expects to bolster its financial capabilities through the appointment of highly experienced finance professional Tom Plant as chief financial officer (CFO) with effect from June 6, 2023.
With almost 30 years of experience as a Chartered Accountant and finance professional within the mining and financial sectors, AVL believes Plant will help enhance financial outcomes as it progresses the Australian Vanadium Project in Western Australia.
The seasoned finance executive with experience in various corporate and commercial roles has a strong background in debt and equity funding solutions, investment evaluation and corporate transactions.
His experience in these areas is expected to complement the existing capabilities in the AVL team.
Experience “of great assistance”
CEO Graham Arvidson said, “We are delighted that Tom has chosen to join AVL. His experience in project finance and investment evaluation will be of great assistance as we progress the project.
"His stewardship of the financial discipline of the company will ensure that a robust team of people, processes and systems are in place for delivery of successful operations, spanning our mining operations, vanadium electrolyte facility and downstream battery opportunities.
"We are looking forward to having Tom on the AVL team and the substantial contribution that a CFO of his calibre will bring to the company.”
Relevant experience
Plant most recently served as interim CFO at Leo Lithium Limited, the developer of the Goulamina Lithium Project in Mali, and prior to that, CFO of Firefinch Limited.
Previous roles have included 10 years at global mineral sands and rare earths producer Iluka Resources and various positions in investment banking and professional services with Macquarie Group, Dresdner Kleinwort Wasserstein and Arthur Andersen.
“A pivotal time”
The incoming CFO said, “I am excited to be joining AVL at a pivotal time for both the company and the vanadium industry more broadly.
"The energy transition is accelerating and sufficient large-scale battery storage is a critical supporting element in this process.
"The company’s world-class Australian Vanadium Project is uniquely positioned to capitalise on the expected significant role vanadium redox flow batteries will play in delivering the required battery storage capacity.”
Plant is a Chartered Accountant (CAANZ) and holds an MBA from INSEAD, an MSc (Mineral Economics) from Curtin University, a Bachelor of Commerce from The University of Western Australia and a Graduate Diploma of Applied Corporate Governance and Risk Management from the Governance Institute of Australia.
AVL’s interim CFO Liesl Strachan will continue to work within the company on the development of the finance function.