MTM Critical Metals Limited ('MTM' or the 'Company') (ASX: MTM; OTCXB: MTMCF) advises that revised remuneration packages for the Company's Managing Director and CEO and President and Managing Director of its USA subsidiary, Flash Metals USA, Inc have been agreed.
The Board has revised the remuneration packages of Mr Michael Walshe (Managing Director and CEO of MTM) and Mr Steve Ragiel (President and Managing Director of MTM's US subsidiary Flash Metals USA Inc.) in line with market expectations, and in particular, the inclusion of incentive packages that better reflect current industry benchmarks and alignment with shareholder interests. Michael Walshe was employed as the CEO of MTM on 9th August 2024 and was promoted to the role of Managing Director from 22nd November 2024. Under the leadership of both Michael Walshe and Steve Ragiel, the Company has added significant shareholder value since the middle of 2024 with a number of key milestones achieved in relation to securing capital and development of the Flash Joule Heating business. The Board has taken these achievements into consideration in carrying out the remuneration review as well as putting in place incentives that will reward future value accretion and business development
MTM Non-Executive Chairman, John Hannaford, stated: 'We are pleased to have finalised executive remuneration agreements with Michael Walshe and Steve Ragiel, both key executives whose skills and experience are integral to delivering the Company's objectives. The new incentives show their commitment to the creation of shareholder value through the development and commercialisation of applications of the Flash Joule Heating technology. The Board believes that these remuneration packages incentivise key executives in alignment with shareholder interests over the long term with a focus on share price outcomes.' In accordance with ASX Listing Rule 3.16.4, the revised material terms of Mr Walshe's and Mr Ragiel's remuneration contracts are as set out in Appendix 1 below. Shareholder approval will be required for the long-term incentives (LTI) for Michael Walshe. A meeting of shareholders will be called at in the coming months. There will be a number of securities that were previously issued to Michael Walshe and Steve Ragiel at the time of their recruitment that are proposed to be cancelled. Details of these are provided in Appendix 2 below. Shareholder approval will be required to cancel these securities.
Contact:
John Hannaford
Chairman
MTM Critical Metals Ltd
Tel: +61 8 6391 0112
Email: info@mtmcriticalmetals.com.au
Simon Adams
Company Secretary
MTM Critical Metals Ltd
Tel: +61 8 6391 0112
Email: info@mtmcriticalmetals.com.au
ABOUT MTM CRITICAL METALS LIMITED
MTM Critical Metals Limited (ABN 27 645 885 463), is an ASX & OTCQB-listed company with management teams in Perth, Western Australia, and Texas, USA, and specialises in advanced metal recovery technologies. MTM's 100%-owned USA subsidiary Flash Metals USA Inc is based in Texas, USA. MTM possess exclusive licensing rights to the innovative Flash Joule Heating technology, a cutting-edge metal recovery and mineral processing method developed by esteemed researchers at Rice University, USA. Additionally, MTM holds exploration assets prospective for niobium (Nb), rare earth elements (REE), and gold, strategically located in Western Australia and Quebec. Flash Joule Heating (FJH) is an advanced electrothermal process that enhances metal recovery and mineral processing compared to traditional methods. By rapidly heating materials in a controlled atmosphere, FJH efficiently extracts metals like lithium from spodumene, gallium from scrap, and gold from e-waste, among others. This technology has the potential to revolutionise metal recovery by reducing energy consumption, reagent use, and waste, offering a more economical and environmentally friendly alternative. MTM's West Arunta Nb-REE exploration assets are situated in one of Australia's premier exploration hotspots, where over $60 million has been invested by ASX-listed companies such as WA1 Resources, Encounter Resources, Rio Tinto (in JV with Tali Resources), and IGO Limited. MTM also holds tenements in other key mineral regions across Western Australia, including the Mukinbudin Nb-REE Project, East Laverton Gold & Base Metals Project, and Mt Monger Gold Project. In Quebec, the Pomme Project is a highly promising carbonatite intrusion rich in REE and niobium, located near the world-class Montviel deposit.
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