Core Lithium mine: CEO Stephen Biggins quits

Core Lithium’s stock price has dropped as news emerges of change at the top of the business.

THE founding managing director of Core Lithium, Stephen Biggins, has announced he will resign from the business before the end of the year.

The announcement was contained in the company’s quarterly activity report which was posted with the Australian Stock Exchange earlier today.

The statement says: “Core also reported to the market in March that its founding Managing Director Stephen Biggins would be resigning from the business before the end of 2022,” it said.

“Mr Biggins retires from the company for personal reasons and the Board reiterates its wishes for Stephen and his family the very best for the future.

“Mr Biggins oversaw the initial ASX listing of Core, brought extensive geological and listed Company and capital markets experience, and was instrumental in discovering and developing the Finniss Lithium Project.

“The Board would like to again acknowledge Mr Biggins’ significant service to the Company over the last 11 years as both foundation director and Managing Director and his valuable contribution towards the growth and development of Core.

“The Board has appointed Korn Ferry to commence a thorough and competitive executive search for a new Chief Executive Officer,”

Mr Biggins could not be reached for comment.

In September 2021 Core ticked off on Final Investment Decision for the Finniss Lithium project, which was the first new mine opened in the Territory for more than a decade.

In March the company announced it had signed a four-year deal with Tesla to provide 110,000 tonnes of lithium for manufacture of zero emission vehicles.

The company’s share price dropped almost 3 per cent on the back of today’s announcement.