Neometals recruits Peak CEO

Mining executive Darren Townsend has left the top job at Peak Resources to become the chief development officer at Neometals, though he will continue at Peak as a non-executive director.

Mr Townsend will be responsible for taking Neometals’ Barrambie titanium project from pilot-scale beneficiation testwork through to a definitive feasibility study.

He will also oversee various engineering studies under way for Neometals’ lithium business.

He will work alongside Neometals managing director Chris Reed.

Mr Townsend was chief executive at Peak for nearly four years, overseeing feasibility studies on its Ngualla rare earths project in Tanzania.

Peak said chief operating officer Rocky Smith, who joined the company early last year, would be interim chief executive.

Shares in both companies softened today, with Neometals closing down 1.5 cents to 29.0 cents

Peak was down 0.2 cents to 4.0 cents, after being one of multiple companies to be sold off in August because of concerns about new mining laws in Tanzania.