Following the announcement that MinRes will take over Poseidon Nickel’s Lake Johnston nickel concentrator and tenures in WA, Poseidon Nickel has announced a leadership transition to compliment the funding.
Having overseen the sale of Lake Johnston, Poseidon chief executive officer (CEO) Craig Jones will be leaving the company to pursue other opportunities.
Brendan Shalders, the current chief financial officer (CFO) of Poseidon, will transition to CEO from April 1.
“On behalf of the board, we would like to thank Craig for his leadership in delivering the Black Swan bankable feasibility study and in recent times as CEO, the instigation and concluding of the planned sale of Lake Johnston and the implementation of significant cost savings providing a strong foundation as a re-focused exploration company,” Poseidon chairman Peter Harold said.
“Going forward, Brendan brings significant experience and continuity to the CEO role having been the company’s CFO since 2019 and has also been instrumental in the implementation of the company’s strategy, Black Swan bankable feasibility study, the proposed sale of Lake Johnston and in particular restructuring the cost base of the company.”
Poseidon has continued to focus its efforts on cost reductions, with the proceeds from the Lake Johnston sale giving the company a leg up in terms of funding.
The company is not looking to replace Shalders as CFO. Following this change, Poseidon will focus on targeted exploration and business development opportunities.
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