Agrimin Limited (ASX:AMN) Initiates Strategic Review and Announces Executive Changes
Strategic Review and Cost Reduction Initiatives
Agrimin Limited (ASX:AMN) has commenced a strategic review of its Mackay Potash Project in response to the current capital markets environment for Australian-domiciled Sulphate of Potash projects. The company is reducing project site activities, planning limited work programs for 2025, and implementing additional cost reduction measures. The review will explore options to maximise long-term value for shareholders, including advancement, joint ventures, sales, or tenement restructuring.
Executive Changes
As part of the strategic review, Agrimin’s Managing Director and CEO, Ms Debbie Morrow, will step down from her roles effective immediately, with a brief transition period. Mr Michael Hartley, the Chief Operating Officer, has been appointed to the Agrimin Board as an Executive Director.
Executive Comments
Lee Bowers, Non-Executive Chairman of Agrimin, stated, “We believe these actions will allow us to identify and pursue the optimal pathway for Agrimin shareholders with respect to the Mackay Potash Project in this environment. In parallel, we are structuring the business to be leaner, run more cost efficiently, and protect and foster the underlying value that also resides in Agrimin’s 40% shareholding in Tali Resources Pty Ltd. I would like to extend my sincere gratitude to Deb for her hard work and advocacy in diligently and passionately advancing the Mackay Potash Project over her tenure. Deb has been instrumental in Agrimin recently receiving Western Australian state environmental approval for the Mackay Potash Project. She departs Agrimin with our warm thanks and very best wishes.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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