ARU appoints new Chief Corporate Affairs Officer

[John]

https://www.linkedin.com/in/penelope-stonier-20523268/?originalSubdomain=au

ARU have appointed a new Chief Corporate Affairs Officer.

What caught my eye was her 13 years at Fortescue Metals Group - Andrew Forrest's money machine. She seems to have been involved with the funding side of things....which is perfect for ARU right now.

Other things to consider:

• The board would have been weighing up to hire someone or not - given our limited cash runway. So they must see value in her and her position.
• I hope she is given the power to shake things up in regards to the equity work. Perhaps even adopt a different apporach.
• Also it reflects very poorly on ARU's arrangers. Our much over paid arrangers do not seem up to the task of locking equity down? So ARU has to hire someone in? I think ARU should be renegotiating our deal with these arrangers....what the hell are they doing? (apart from the othr part of their business shorting us....) I hope Penelope's first task is to review the contracts with the arrangers and see what can be done. I would also bypass the current arranger teams on the ARU deal..and have discussions with their bosses. I would be telling their bosses that their team is not performing and what are you going to do? I would also be pointing out that it is THEIR reputation on the line....They promised the world when ARU selected them as part of the tender process....
• Given there are also JV talks afoot.....it is also an interesting hire....meaning the former equity solution seems to be the most likley way to FID.

Penelope - If you are reading this, please reach out to us at REEx. We have some amazing contacts globally. my email is john@rareearthexchanges.com


Here is Penelope's FMG experience:

"Group Manager, Funding Group Manager, Funding
Fortescue Metals Group · Full-timeFortescue Metals Group · Full-timeJun 2009 - Apr 2022 · 12 yrs 11 mosJun 2009 to Apr 2022 · 12 yrs 11 mosPerthPerth

• • The role at Fortescue was dynamic and ever evolving. A can do attitude allowed me to be exposed to all facets of the business outside of the capital management role including investor relations and external affairs, internal and external audit, project management of annual reporting (2015 & 2016), cost-out and efficiency improvement programmes, company secretarial activities (AGM, incentive plans, reporting and governance), joint venture negotiations and activities, people and culture, sustainability and corporate affairs.
    
    I completed my double Masters degree whilst managing the CFO's office, after which time I switched roles to focus on managing, executing and implementing corporate financing and liability management strategy in support of the company's future objectives.
    
    * More than US$35bn of funds was raised or refinanced through domestic and international capital markets to support the companies growth and adapt to the evolving sustainable capital structure.
    
    * The capital structure consisted of US High Yield Notes, US and Asian Term Loan Facilities, European Export Credit facilities, Master Lease facilities, Revolving Credit Facility, Chinese Leasing Facility.
    
    *Delivery of complex and time critical financing objectives to take advantage of market opportunities including the development of marketing materials, offering memorandums, due diligence, negotiation and legal documentation.
    
    * Establishing best practice, compliant, streamlined and efficient processes to ensure adherence to corporate debt facilities.
    
    * Managing relationships was a critical aspect of the role, engaging key stakeholders including debt investors, banks and financial institutions, Government entities, RBA, Industry bodies, Rating agencies (S&P, Moody's and Fitch) as well as independent ESG Rating agencies.
    
    * Speaker at Fortescue's the leadership development programme and Empowerment programmes."