Hawsons Iron Ltd (ASX:HIO) has been advised that chairman Dave Woodall intends to retire from the board with effect from July 1, 2023, as company directors prepare for a scheduled strategic skills and composition review.
This vacancy will be considered during the strategic review as the board seeks to match the competencies of directors with the company’s emerging needs being identified in a bankable feasibility study (BFS).
Two-year association
Woodall has been associated with Hawsons for more than two years, initially as a corporate advisor, followed by membership of the 'cold eyes' Bankable Feasibility Study (BFS) Advisory Committee.
He accepted an invitation to join the board as chairman in May 2022 to lead the company through to practical completion of the BFS.
HIO directors will consider a refresh of skill set and composition at a planned board review workshop on April 17, 2023, ahead of the next scheduled board meeting on April 24, 2023.
Specific skill set needed
“The strategic review action plan is on target for completion by the end of June 2023 as the next key decision-making milestone towards commencement of a modified 11 million tonnes per annum BFS,” Woodall said.
“A deep engagement with strategic partners will be critical to the final phase of the BFS completion and approvals process and the board’s ongoing oversight will consequently require a continuation of this specific experience and skill set.”
READ: Hawsons Iron completes $1 million SPP for $8.8 million in raise proceeds to fund bankable feasibility study
“Now is the right time”
Woodall said that now also was the right time for the board to take the opportunity “to match its broader competencies with the emerging needs” of the BFS.
“I will be working diligently with the board to identify and recruit outstanding candidates with the necessary experience and skill sets as directors to oversee the company’s transition from project developer to iron ore miner and producer,” he said.