Strategic Minerals Share News (SML)

(Sharecast News) - Strategic Minerals on Wednesday appointed Peter Wale, the company's second largest shareholder, as executive director with immediate effect.The battery minerals producer said Wale's promotion from non-executive director is reflective of his increased involvement with the company, where he has taken on duties including strategic planning, day-to-day business management and market communications.Peter Wale, executive director of Strategic Minerals, said: "As a shareholder who has, since 2013, continued to build a significant stake in Strategic Minerals, I am enthusiastic about this opportunity to continue developing my role within the company and thank my fellow directors for their confidence in me."Wale added that he looked forward to closing the gap between the AIM traded firm's valuation and its prospects, which he saw as being at their most divergent.Wale will continue to work alongside managing director John Peters in the overall operational management of the company."We are delighted to announce Peter's appointment as executive director of Strategic Minerals. His experience as an investment professional across diverse markets has proved fundamental in the management of the company and we hope his appointment reflects not only the Company's progress to-date, but also its ambitions going forward," said Peters.Strategic Minerals' shares were down 6% at 1.17p at 1603 BST.