Berkshire is hoarding so. much. cash.
Who is Steve Promnitz? Managing Director of QX Resources
Steve Promnitz: Spearheading QX Resources Towards a Greener Future
Steve Promnitz, renowned for his transformative leadership at Lake Resources NL, has now taken the helm as Managing Director at QX Resources Limited (ASX:QXR), a company at the forefront of exploring and developing critical battery minerals.
With a distinguished career that has spanned across major and mid-tier mining companies, as well as significant roles in corporate finance, Promnitz brings a wealth of experience to QX Resources. His strategic vision and expertise in leveraging new technologies for sustainable mineral extraction are poised to position QX Resources as a key player in the global transition to green energy.
Career Highlights
Transformative Leadership at Lake Resources: As the previous Managing Director, Promnitz was instrumental in acquiring and advancing the Kachi lithium brine project in Argentina. Through innovative exploration models and environmentally friendly extraction techniques, he significantly increased Lake Resources' market value from $1 million to an impressive $A2. 1 billion, securing its spot in the ASX 200.
Diverse Experience in the Resources Sector: Promnitz's career encompasses roles in the gold sector, battery minerals (including copper, nickel, and rare earths), and broader natural resources across South America, South-East Asia, and Australia.
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His leadership roles in small to mid-tier companies, coupled with senior management positions in global resource giants like Rio Tinto and WMC, highlight his diverse expertise.
Corporate Finance Acumen: Beyond the mining sector, Promnitz has demonstrated significant competency in corporate finance, holding senior roles at major banks including Westpac and Citigroup. This financial insight is invaluable in navigating the capital-intensive landscape of mineral exploration and development.
Strategic Vision for QX Resources
Under Promnitz's guidance, QX Resources is set to expand its footprint in the battery minerals sector, which is crucial for the electrification of the global economy. The company's portfolio includes:
Hard Rock Lithium Assets in Western Australia, positioning QX Resources in a prime location for lithium extraction.
A Lithium Brine Project in the USA, expanding the company's lithium resource base.
Copper/Moly/Gold Assets in Queensland, diversifying the company's mineral portfolio.
Investments in Nickel Sulphides in Sweden, further aligning with the demand for battery materials.
Pilbara Lithium and Anthony Molybdenum Projects, enhancing the company's project portfolio.
Promnitz's leadership is expected to drive QX Resources' mission to connect end users, such as battery, cathode, and car makers, with a reliable source of critical minerals. His track record of developing projects from exploration to near-production stages, particularly with a focus on ESG-friendly practices, aligns with the increasing demand for sustainable and ethically sourced minerals.
Steve Promnitz's appointment as Managing Director of QX Resources marks a significant milestone for the company. His proven ability to navigate complex project developments and capitalize on emerging opportunities in the battery minerals sector is set to enhance QX Resources' position in the market. With a solid foundation and a strategic vision aimed at supporting the green energy transition, Promnitz is poised to lead QX Resources into a new era of growth and sustainability.
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Buffet indicator is showing some wild times ahead perhaps, combine that with Berkshires record high cash hoard of 30%... chart via barchart.com / Longtermtrends
Looks like we're going through something, but who would have thought with all these tarrifs, inflation and trade wars going on
Where does this end up long term with small stocks suffering white giant caps are taking all the coin?
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The spike in red reflects financial strain returning fast. Credit card delinquencies are rising too, hinting that lower-income consumers might be nearing a breaking point. What's going on...
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