Magmatic Resources Limited announced the appointment of Mr. Malcolm Norris and Ms Christine Nicolau to the Company as Non-Executive Directors, effective 16 October 2024. Malcolm Norris is a senior mining industry professional with extensive experience in business management, asset transactions and exploration, with a focus on porphyry copper-gold discovery and development. Mr. Norris has been involved in several world-class discoveries, including the Tujuh Bukit deposit in Indonesia and the Cascabel deposit in Ecuador.
He was also involved in the early drill phase of the Tampakan deposit in the Philippines. Recently he has led the Sunstone Metals discoveries at Bramaderos and El Palmar in Ecuador. Mr. Norris is Non-executive Chairman of Sunstone Metals Ltd. and his previous experience included 23 years with WMC Resources, and Managing Director roles of Sunstone Metals and London listed SolGold.
He holds an MSc in Geology and a Masters in Applied Finance. Christine Nicolau is General Manager Corporate Development LATAM at Fortescue and responsible for critical minerals growth across the South America region, including regional integration with Fortescue's Energy business. In her previous role of Metals General Manager LATAM, Ms Nicolau coordinated Fortescue's minerals business in Latin America, including exploration and project development.
Ms Nicolau has been with Fortescue since 2010 and during this time has held a range of management positions, including Manager Corporate Development from September 2015 to 2018. Ms Nicolau has been a Director of TSX-listed Alta Copper Corp. since 2021.
Ms Nicolau's appointment is as the nominee director for substantial shareholder FMG Resources Pty Ltd. (Fortescue Resources). Fortescue Resources has the right to nominate a director to the Board pursuant to the Share Subscription Agreement dated 7 March 2024 between Magmatic and Fortescue Resources. Fortescue`s nomination of Christine to MAG's board highlights their further commitment to Magmatic and projects, following their JV on Myall, becoming largest shareholder, and maintaining their shareholding by participating in recent capital raising.
Her experience leading Fortescue's critical minerals projects in South America will greatly benefit the Company.
