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Promnitz leads QX Resources in next growth stage

QX Resources has appointed Steve Promnitz to the new role of managing director to facilitate the growth and development of the company’s lithium assets…

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This article was originally published by Australian Mining

QX Resources has appointed Steve Promnitz to the new role of managing director to facilitate the growth and development of the company’s lithium assets in Western Australia and its gold projects in Queensland.

Promnitz recently resigned as managing director from lithium brine developer Lake Resources, for whom he successfully secured the lithium assets in 2016, and developed the previously untested Kachi lithium brine project in Argentina with new technologies to a stage where most project financing is indicatively in place for its development.

Steve Promnitz.

In the process, he took a $1 million market value private company, using new exploration models and ESG friendly extraction techniques, to form an ASX 200 Company with a strong balance sheet and a market capitalisation of $2.1 billion at the time of his departure.

Prior to Lake Resources, Promnitz worked in the gold sector with major and mid-tier producers as well as across the battery minerals of copper, nickel and rare earths, and the broader natural resources and energy sector, with a focus on South America, South-East Asia and Australia.

Executive chairman Maurice Feilich said QXR has assembled a quality portfolio of near drill-ready lithium hard-rock assets in WA with some very promising geology.

“As well, our gold assets in Queensland hold considerable unlocked value and growth for future development. QXR’s board decided now is the right time to appoint a managing director to fast-track the development of these assets while also assessing new battery minerals projects that complement the portfolio.”

Australian Mining.




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