Oar Resources Ltd (ASX:OAR) has welcomed Paul Stephen to the company as chief executive officer, effective immediately.
The highly experienced executive was co-founder and executive director of Crusader Resources, where he oversaw the discovery, development and operations of the Posse Iron Ore mine in Brazil.
Stephen also managed the discovery and delineation of more than 2.6 million ounces of gold for Crusader while operating in Brazil, resulting in the company achieving a market valuation in excess of A$160 million.
In taking OAR forward, Stephen will be able to draw on his strong track record of delivering projects from discovery through to fully permitted and operational mines, as well as in-depth experience in commercial and corporate aspects required to successfully lead a publicly listed junior explorer.
Stephen has a lot to work with as Oar Resources holds several tenements on the South Australian Eyre Peninsula which are considered highly prospective for graphite, kaolinite and halloysite mineralisation as well as other commodities.
OAR has also recently acquired the Denchi Lithium Project in Western Australia, after signing a binding option term sheet for the acquisition of one granted tenement and two tenement applications to add lithium to its asset portfolio.
Read more: Oar Resources snaps up highly prospective lithium project near Wiluna in WA
Progressing the battery metals portfolio
In appointing Paul Stephen, Oar Resources chair Chris Gale, who will move to the position of non-executive chairman, said: “We are delighted to have Paul as the CEO at this important point in the company’s development, to assist OAR in progressing its battery metal projects portfolio which includes a graphite project in South Australia and a lithium project in Western Australia.
“Paul brings a wealth of experience, having delivered projects from discovery through to production, which will help ensure OAR successfully delivers the next phase of its critical mineral development strategy.”