Gratomic Provides Update on Strategic Path

Gratomic Inc. has announced developments in its strategy, highlighting reductions in expenses and changes in management. The company has reduced expenses by $115,000 per month across Namibia, Canada, and Brazil. Additionally, Gratomic is selling non-core assets to support working capital and further its Aukam Property project.

The company is restructuring its management team, with responsibilities of Armando Farhate being assumed by CEO Arno Brand. Interim CFO Daniel Baard has been appointed, replacing Stephen Woodhead. These changes are aimed at streamlining operations and reducing overhead costs.

Gratomic is also progressing towards listing on the Alternative Investment Market of the London Stock Exchange. Executive Chair Bruno Baillavoine has been granted stock options to align his interests with shareholders, while CEO Arno Brand focuses on fundraising and advancing the Aukam site to production.

The company is advancing geological development to complete a technical report for the Aukam Property. However, it emphasizes that no formal economic or feasibility studies supporting production have been completed, underlining the risks associated with its projects.