Eastport Critical Metals Appoints Accomplished Mining Executive, Daniel Major as Chief Executive Officer
Eastport Critical appointed a new CEO as it advances its multi-asset Botswana drill campaign, with execution pace remaining the key catalyst.
Eastport Critical Metals Corp. announced a leadership transition effective July 1, 2026, appointing Daniel Major as Chief Executive Officer. Burns Singh Tennent-Bhohi will step down from the CEO role to become Executive Chairman, while David Minchin moves to the position of Co-Chair.
As part of the transition, the company granted 500,000 stock options to the incoming CEO and 1,200,000 incentive stock options to directors, officers, and consultants. The CEO’s options vest in tranches: 100,000 immediately, 150,000 at 12 months, and 250,000 at 18 months. The 1.2 million incentive options vest immediately upon issuance. All options carry a 20% premium to the five-day VWAP preceding July 1, 2026, and have a five-year expiration. Common shares resulting from the exercise of these options are subject to a four-month resale restriction.
Management highlighted three concurrent drill programs, a new uranium discovery at Foley, strategic funding support, and advancement at the Nakalakwana (copper) and Semarule (REE) projects. The company’s portfolio comprises five critical metal projects in Botswana with cumulative expenditures approaching CAD$20 million.
Eastport Critical Metals Corp. (EVI) announced a management succession plan, marking a routine executive appointment as the company scales operations and prepares for resource definition. The announcement included the immediate vesting of 1,200,000 options to directors, officers, and consultants, a move that introduces notable dilution despite being priced at a 20% premium to the recent volume-weighted average price (VWAP).
The update serves as a standard governance change that reinforces the company’s "Develop and Distribute" strategy without altering its exploration-stage risk profile, financial runway, or asset status. Market reaction saw the stock decline from $0.79 on May 28 to $0.59 on June 24, suggesting the news was either already telegraphed or overshadowed by typical wait-and-see sentiment as investors await assay results.
Eastport Critical Metals Corp. (EVI) is a critical metals explorer and developer focused on Botswana. The company’s portfolio includes five projects: Matsitama Copper, its flagship asset; Selebi East, which targets nickel, copper, and platinum group elements; Semarule for rare earth elements; Foley Uranium; and Keng.
The company’s strategy centers on a "Develop and Distribute" model designed to retain economic interest while reducing balance-sheet exposure. Botswana serves as the jurisdiction for these operations, offering a stable, mining-friendly environment supported by existing infrastructure, including highways, a power grid, water resources, and drilling contractors.
Recent activity has involved concurrent Phase 1 and 2 drilling across copper, rare earth element, and uranium targets. These efforts are supported by gamma logging and gravity surveys that aid in refining the geological models.