Acquisition Finalized for Silver and New Managing Director Appointed
Rapid Critical Metals Expands Silver Portfolio with Acquisition and New Leadership
Rapid Critical Metals Limited, a company focused on critical and precious metals, has completed the acquisition of Silver Metal Group Limited's two subsidiaries, Conrad Resources Pty Ltd and Webbs Resources Pty Ltd, in late July 2025. This strategic move significantly expands Rapid Critical Metals' silver portfolio, enhancing its position in the silver market.
The acquisition was announced on 22 May, 2025, and was approved by shareholders at an Extraordinary General Meeting held on 7 July, 2025. Byron Miles, a seasoned professional in mergers and acquisitions, has been appointed as the new Managing Director of Rapid Critical Metals. His term begins on 24 July, 2025, and continues until termination according to the Agreement.
Byron Miles brings over 18 years of experience as a stockbroker and fund manager to his new role. He has a track record of helping companies develop from inception to profitable businesses. His appointment is expected to guide the company through its expanded operations following the acquisition.
Rapid Critical Metals' Chairman, Rick Athon, praised Martin Holland for executing a transformative strategy for the company. Following Byron's appointment, Martin Holland and Michael Schlumpberger will transition to the role of Non-Executive Director, also effective 24 July, 2025.
The remuneration package for Byron Miles includes his annual salary of $250,000 as the only stated component. The package is designed to ensure alignment of reward with achievement of corporate objectives and the creation of shareholder value. The specifics of bonuses or equity grants, if any, are not provided in this announcement.
The Agreement allows for termination by the Company with six months' notice or payment in lieu of notice, and by Byron Miles with six months' notice or immediate termination for a material breach of the Agreement. Customary restraint provisions apply to Byron Miles' termination.
This strategic move aligns with Rapid Critical Metals’ focus on critical and precious metals, positioning them better in the silver commodities sector. The company's silver assets and portfolio have been expanded, and Byron Miles' leadership is expected to guide the company towards further growth and success.
[1] Rapid Critical Metals Limited Press Release, 22 May, 2025. [2] Rapid Critical Metals Limited Press Release, 24 July, 2025.
[1] As the new Managing Director of Rapid Critical Metals Limited, Byron Miles will be responsible for guiding the company through its expanded operations following the acquisition of Silver Metal Group Limited's subsidiaries, with a focus on investing in critical and precious metals, particularly in the silver market.
[2] Byron Miles, with his extensive experience in finance and investments, is anticipated to secure the funding necessary for the company's business growth and create shareholder value as they continue to strengthen their position in the silver commodities sector.
