Infinity Lithium Corporation Ltd (ASX:INF) has made further changes to its board and corporate structure to provide a streamlined technical focus for potential project assessment while the flagship San José Project in Spain advances through the permitting assessment period.
Non-executive chairman Adrian Byass has been appointed interim CEO and executive chairman, replacing outgoing managing director and CEO Ryan Parkin.
This change and amendments to the remuneration for board members aligned to shareholder performance provide further rationalisation of resources.
Prioritising resources
Infinity Lithium said that in light of evolving strategic objectives and capital considerations, it continued to prioritise the allocation of resources to the San José ECA assessment and next stages of public consultation through to the final permitting determination.
While progressing the project through the permitting assessment period the company is also assessing other potential opportunities and has recognised the need to streamline resources and preserve capital where possible.
Parkin’s resignation will take effect at the company’s AGM on November 14, 2024, and following this Byass has agreed to take on the executive chairman role.
Byass has extensive experience in the identification and advancement of exploration assets both within and external to Infinity.
Amendments to the remuneration for the board are designed primarily to preserve capital.
About Infinity Lithium
Infinity Lithium is an Australian listed minerals company seeking to develop its 75%-owned San José Lithium Project.
The proposed fully integrated industrial project is focused on the production of battery-grade lithium chemicals from a mica feedstock that represents the EU’s second-largest JORC-compliant hard rock lithium deposit.
San José would provide an essential component in the EU’s development of a vertically integrated lithium-ion battery supply chain.
The availability of critical raw materials and the production of battery-grade lithium hydroxide in the EU is essential to ensure the long-term production of lithium-ion batteries for electric mobility and the transition of the EU’s automotive industry towards electric vehicles.