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TUNGSTEN MINING NL — Remuneration Information 2023
Feb 7, 2023
65918_rns_2023-02-07_7021eb3c-47de-4a16-8b98-49f1cd300886.pdf
Remuneration Information
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8 February 2023
ASX ANNOUNCEMENT
Executive Director Remuneration
Australian tungsten developer, Tungsten Mining NL (ASX: TGN) (“Tungsten Mining” or “the Company”), advises the cash-based remuneration package of the Company’s Executive Director – Teck Siong Wong has been agreed following Australian residency and regulatory approval.
In accordance with ASX Listing Rule 3.16.4, the terms of the Executive Director remuneration package are as follows.
| Title | Executive Director and Interim Chief Executive Officer |
|---|---|
| Effective | Upon grant of visa |
| Base Remuneration | $235,000 |
| Superannuation | Plus statutory superannuation |
| Notice Period | May be terminated with 4 weeks notice by either party |
Tungsten Mining’s Chairman, Gary Lyons, commented: “Mr Wong has made a significant contribution since assuming the role of Interim CEO. We are fortunate to have his services during this time of transition”.
This ASX announcement was authorised for release by the Board of Tungsten Mining NL.
For further information:
Gary Lyons Chairman Ph: +61 8 9486 8492 E: [email protected]
Simon Borck Joint Company Secretary Ph: +61 8 9486 8492 E: [email protected]
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About Tungsten Mining
Australian tungsten developer, Tungsten Mining NL is an Australian based resources company listed on the Australian Securities Exchange.
Tungsten (chemical symbol W), occurs naturally on Earth, not in its pure form but as a constituent of other minerals, only two of which support commercial extraction and processing - wolframite ((Fe, Mn) WO4) and scheelite (CaWO4).
Tungsten has the highest melting point of all elements except carbon – around 3400°C giving it excellent high temperature mechanical properties and the lowest expansion coefficient of all metals. Tungsten is a metal of considerable strategic importance, essential to modern industrial development (across aerospace and defence, electronics, automotive, extractive and construction sectors) with uses in cemented carbides, high-speed steels and super alloys, tungsten mill products and chemicals.
Through exploration and acquisition, the Company has established a globally significant tungsten resource inventory in its portfolio of advanced mineral projects across Australia. This provides the platform for the Company to become a major player within the global primary tungsten market through the development of lowcost tungsten concentrate production.