Who is Peter Oliver? The New Executive Director of Latin Resources
Latin Resources Limited
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Who is Peter Oliver? The New Executive Director of Latin Resources

Latin Resources Accelerates Salinas Lithium Project with Strategic Executive Appointment and Competitive Compensation Plan

Latin Resources Limited (ASX: LRS) has strategically appointed Mr. Peter Oliver as Executive Director and Chairman of the Development Committee, effective immediately, to expedite the Salinas Lithium Project into production.

With an illustrious career spanning over two decades in the lithium industry, Oliver's leadership is poised to significantly enhance Latin Resources' global stature in the lithium market. His appointment comes with a competitive compensation package designed to align his interests with the company's long-term goals.

A Leader for Latin Resources

Latin Resources announces a pivotal move in its journey towards becoming a global tier-one lithium producer by appointing Mr. Peter Oliver as Executive Director and Chairman of the Development Committee. This appointment is not just about filling a high-level position but is a strategic decision aimed at leveraging Oliver's extensive experience and successful track record in the lithium sector.

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Extensive Industry Experience and Compensation Details

Peter Oliver's remarkable career includes key leadership roles at Talison Lithium and advisory positions with Tianqi Lithium, highlighting his deep industry knowledge and strategic acumen. To match his expertise and the value he brings to Latin Resources, the company has structured a competitive compensation package for him:

Director's Fees: Mr. Oliver will receive $10,500 per month, along with additional fees of $7,500 per annum for each committee or sub-committee he serves on. This structure is designed to compensate him fairly for his executive oversight and strategic guidance roles.

Incentive Plan: In a move to align Mr. Oliver's incentives with the company's performance and milestones, he will be issued 10 million Performance Incentive Rights, subject to shareholder approval. These rights are scheduled to vest over significant company milestones, including after 12 and 24 months from his start date, and upon the formal confirmation of a Definitive Feasibility Study for the Salinas Lithium Project.

The Strategic Implications of Oliver's Appointment

Oliver's leadership is expected to significantly bolster Latin Resources' efforts to become a leading figure in the lithium market. His proven track record, coupled with a compensation plan that incentivizes long-term value creation, sets a solid foundation for the company's ambitious growth plans.

Salinas Lithium Project: A Catalyst for Growth

The Salinas Lithium Project, with its substantial resource estimate and promising economic assessments, is at the heart of Latin Resources' strategy. Under Oliver's stewardship, the project is set to advance rapidly, marking a significant step towards meeting the global demand for lithium, a critical component in battery technologies.

Future Plans and Exploration Initiatives

Latin Resources has laid out a comprehensive plan for 2024, focusing on expanding and upgrading the Colina Deposit, exploring the Fog’s Block Deposit, and initiating drilling at the Planalto Prospect. These initiatives are crucial for enhancing the project's overall value and moving closer to production.

The appointment of Peter Oliver signals a new era for Latin Resources, underscored by a competitive compensation package that aligns his interests with the company's success.

With Oliver at the helm, Latin Resources is well-positioned to navigate the complexities of the lithium market and achieve its goal of becoming a significant player in the industry. The strategic focus on the Salinas Lithium Project, combined with Oliver's leadership and incentive-driven compensation, sets the stage for an exciting phase of growth and development.

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