Kenneth H. Traub Appointed to the Board of American Rare Earths
18 Agosto 2023 - 3:05PM
American Rare Earths (ASX: ARR | ADRs - OTCQX: AMRRY| Common Shares
- OTCQB: ARRNF| FSE:1BHA) (ARR or the Company) is pleased to
announce that Mr. Kenneth (Ken) H. Traub has joined the Board of
Directors of the Company. Mr. Traub has over 30 years of experience
as a CEO, chairman, director, investor and consultant in public
companies with a successful track record of driving strategic,
financial, operational and governance improvements to enhance
shareholder value. His appointment to ARR’s Board is a highly
valued addition as the company expands its presence in the United
States.
Since 2019, Mr. Traub has been serving as the
Managing Partner of Delta Value Advisors, a strategic consulting
and investment advisory firm, specializing in corporate governance
and turnarounds. Mr. Traub also currently serves on the Board of
Directors and is Chairman of the Nominating and Corporate
Governance Committee of Tidewater, Inc. (NYSE: TDW), the leading
global owner and operator of offshore support vessels for the
energy industry.
“We are excited to add Ken to our Board,” says
Creagh O’Connor, Chairman, American Rare Earths. “His widespread
experience as a successful corporate leader where he has built
significant shareholder value will be invaluable at this critically
important time for our company. We are fortunate to have a leader
with Ken's talents as we embark on our plan to become a leading US
based supplier of rare earth elements.” ARR’s commitment to
strengthening its position in the rare earths industry and
expanding its presence in the United States has led to the decision
to appoint three highly skilled and accomplished American-based
directors to its Board.
"I am delighted to join the Board of Directors
of American Rare Earths," stated Ken Traub. "Rare earth elements
are essential components in key industries including electronics,
renewable energy technologies and defense systems and the demand
for these materials is growing rapidly. However, currently the
market is dominated by China, accounting for approximately 85% of
the global supply. American Rare Earths has the potential to become
a leading domestic supplier of these critical materials, which is
not only a significant and exciting business opportunity, but can
be vital for American financial and national security
interests."
Mr. Traub's extensive public company board
experience includes: (i) American Bank Note Holographics, as
President, CEO and director with over 1000% increase in shareholder
value, (ii) Voxware, Inc., as cofounder, EVP, CFO and director with
over 3000% increase in shareholder value for the original investors
through IPO, (iii) MRV Communications, Inc., as Chairman of the
Board, (iv) DSP Group, Inc., as Chairman of the Board, (v)
Intermolecular, Inc., as Chairman of the Board, (vi) Phoenix
Technologies, Inc., (vii) iPass, Inc., (viii) MIPS Technologies,
Inc., (ix) Xyratex Limited, (x) Vitesse Semiconductor Corporation,
(xi) Athersys, Inc., (xii) A. M. Castle & Co., (xiii) IDW Media
Holdings, (xiv) Immersion Corporation, and (xv) Gulfmark, Inc.
Mr. Traub received the Certified Director
designation from the National Association of Corporate Directors in
2023.
Mr. Traub is also active in the Young Presidents
Organization and World Presidents Organization, leading global
networks of business leaders, having served as Chapter Chairman and
Education Chairman.
Mr. Traub received a BA from Emory College in
1983 and an MBA from Harvard Business School in 1988.
This announcement has been authorized for
release by the Board of American Rare Earths.
About American Rare Earths
Limited:American Rare Earths (ASX: ARR| ADRs - OTCQX:
AMRRY| Common Shares - OTCQB: ARRNF| FSE:1BHA) is committed to
becoming a top supplier of critical minerals. The company is a
leading explorer of rare earth projects with a strong focus on
developing sustainable and cost-effective extraction and processing
methods. To meet the rapidly increasing demand for resources
essential to the clean energy transition and US national security,
American Rare Earths is engaged in advanced study and continued
exploration of its 100% owned rare earth element projects rich in
magnet elements of neodymium and praseodymium at Halleck Creek in
Albany County, Wyoming and La Paz, Arizona. Both projects have the
potential to be among North America’s largest rare earth deposits.
Halleck Creek deposit was recently identified by Mining.com as
fifth in the world’s top rare earth projects. A recently released
maiden JORC Resource report for Halleck Creek shows 1.43 billion
tonnes of in place TREO, 4.73 million tonnes TREO containing
approximately 1.05 million tonnes of the highly desirable magnet
metals neodymium and praseodymium oxide. The Halleck Creek deposit
is located approximately 70km north-east of Laramie encompassing
portions of Albany and Platte Counties in Wyoming. The Company
continues to evaluate other exploration opportunities and is
collaborating with US Government supported R&D to develop
efficient processing and separation techniques of rare earth
elements to help ensure a renewable future.
Head OfficeSuite 706 Level 7,
89 York St.Sydney, NSW 2000Tel 612 8054 9779GPO Box 1546Sydney NSW
2001
US Mailc/o Western Rare
Earths514 Grand Avenue #371Laramie, WY
82070info@americanrareearths.com.auamericanrareearths.com.au
For media inquiries, please contact:Susan Assadi,
sassadi@americanrareearths.com.au347 977 7125
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/2c29be07-02d1-493a-99ed-c9b6c4a5b091
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