RCM appoints John Poynton as chairman
Our recent silver Investment Rapid Critical Metals (ASX: RCM) just appointed a new chairman.
RCM appointed John Poynton as Independent Non-Executive Chairman, effective immediately.
John has previously served on the boards of ASX listed ($11BN), Multiplex, Alinta, Austal ($2.9BN), and several Australian Government entities including the Reserve Bank’s Payments System Board and the federal governments EFIC (Export Finance and Insurance Corporation).
Until February 2024, Mr Poynton was a Guardian of Australia’s Future Fund, where at the time was managing over $220 billion in assets.
He has also chaired several community and education bodies and is an Officer of the Order of Australia.
As part of a wider board restructure, Rick Anthon will become an Independent Non-Executive Director, Martin Holland moves to Executive Director, and Dan Smith has resigned from the board, all these effective today.
Managing Director Byron Miles said Mr Poynton’s appointment strengthens Rapid’s leadership as it seeks to grow into a leading silver explorer and future producer.
(Source)
Catch up on the 10 reasons we invested in RCM from our launch note:Our New Investment: Rapid Critical Metals (ASX: RCM)
The 10 Reasons We Invested in RCM
- RCM has an estimated 67M ounces of high grade silver equivalent JORC resource estimates. We think it can grow bigger.
- We like silver
- There are very few silver exposures on ASX
- Silver stocks on the ASX (like RCM) are cheap relative to other exchanges
- RCM is relatively cheap compared to other ASX listed silver stocks
- We are Investing alongside Tribeca, Jupiter Asset Management and Eric Sprott
- We know two of RCM’s projects really well
- We like the recent acquisition RCM completed
- Exploration upside (project area now 26x bigger)
- Critical Metals “Side asset” in Canada could also come good
What do we want to see RCM do next?
Objective 1: Drill results from the Webbs project
RCM is currently doing a 2,000m diamond drill program with two rigs. With this drilling, we want to see RCM to extend its Webbs resource to the south and upgrade the project’s overall resource estimate.
Milestones:
🔲 Drilling
🔲 Assay results
🔲 Resource upgrade
Objective 2: Drilling on two other projects to expand resources
We want to see RCM drill both its Conrad asset and the newly acquired Webbs Consol projects to upgrade both those projects’ silver resource estimates.
Milestones:
🔲 Permitting
🔲 Drilling commenced
🔲 Assay results
🔲 Resource upgrade
Objective 3: Target generation works on regional targets
We want to see RCM work up and define new drilling targets across parts of its project that haven’t been systematically drilled before.
Milestones:
🔲 Soil Sampling
🔲 Geophys/Geochemistry work
🔲 Modelling of existing data
🔲 Identify drill targets
🔲 Permit for further drilling
Objective 4: Regional drilling across the newly expanded project area
Once RCM has ranked its high priority targets, we want to see the company drill test the highest ranking ones (and fingers crossed, make new discoveries).
Milestones:
🔲 Permitting
🔲 Drilling commenced
🔲 Assay results
Objective 5 (Bonus): Update on North American critical minerals project
We want to see RCM work up its Canadian germanium/gallium asset or do a deal on the asset so that a partner can work up a carried interest for RCM.
