Norfolk Metals installs seasoned duo in boardroom overhaul
Norfolk Metals has shuffled its board, appointing veteran Anthony McClure as executive chairman to steer its acquisition of the high-grade Ciclón copper project in Chile.
To fund the acquisition and subsequent exploration, Norfolk plans to raise between A$100 million and A$120 million. Once the deal is done, management plans to hit the ground running with a proposed 53,000-metre drill campaign across its Chilean portfolio.
While Ciclón is set to be the main event, Norfolk also holds the Carmen copper project in Chile’s Atacama region. A maiden drilling campaign there last year returned encouraging results, including a 53m intercept grading 1.1 per cent copper from 62m. Carmen offers a dual-track opportunity, with a near-surface oxide copper blanket potentially suited to heap-leach processing and deeper sulphide potential.
As part of its sharpened focus on Chile, the company has shed its legacy assets. Its Roger River exploration licence in Tasmania expired in August and Norfolk now holds no ground in the state. Its Orroroo uranium project in South Australia is also considered non-core and is under review for a potential joint venture or divestment.
The corporate team has also been strengthened, with solicitor Sleiman Majdoub appointed joint company secretary alongside Arron Canicais. Majdoub brings corporate, commercial and legal experience, including advising mining explorers and supporting listed companies with reporting and compliance.
With a new, experienced leadership team at the helm and a high-grade, advanced copper asset in its sights, Norfolk has charted a bold new course. Now, it’s all about filling the war chest to bring its Chilean copper vision to life.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
