Coalspur Mines Limited (ASX:CPL) Further Strengthens Management Team
Perth, Aug 4, 2011 AEST (ABN Newswire) - Coalspur Mines Limited (
ASX:CPL) (TSE:CPT) is is pleased to announce that it has further strengthened its management team with the appointment of Mr Wayne Drier who will join the Company as Vice President, Commercial.
Mr Drier has over 15 years experience in business development, commercial and corporate finance roles within major mining companies and investment banks. Prior to joining Coalspur, Mr Drier was the Commercial Executive for Mantra Resources Limited (ASX:MRU), a TSX/ASX listed uranium exploration company, where he oversaw the recent sale of the company to JSC Atomredmetzoloto for an all-cash consideration of A$1.02 Billion. While in this position Mr Drier was also responsible for negotiating off-take arrangements and managing a number of the commercial aspects of the bankable feasibility study on the company's uranium project.
Prior to Mantra Resources, Mr Drier held senior management positions at Norilsk Nickel International and BHP Billiton (ASX:BHP). Whist at BHP Billiton he held the position of Vice President, Commercial for its energy coal operations in South Africa. In this role Mr Drier was responsible for the commercial, rail and port relationships and represented BHP Billiton on the Board of the Richards Bay Coal Terminal, one of the largest export coal facilities in the world.
As Vice President, Commercial Mr Drier will be responsible for corporate finance and the business development activities of the Company, including structuring of the project finance required for the development of the Vista Coal Project ("Vista"). Mr Drier will be based out of the Calgary office.
The Company's Managing Director and CEO, Mr Gene Wusaty, said "Wayne's addition to the Coalspur management team is crucial given Vista's stage of development and as we progress to complete the Bankable Feasibility Study by year end. His experience will be invaluable as Coalspur moves to secure project financing and product off-take agreements to bring Vista into production."
About Coalspur Mines Limited
Coalspur Mines Limited (ASX:CPL) (TSE:CPT) is a coal development company with approximately 55,000 hectares of coal leases located within the Hinton region of Alberta, Canada. Coalspur's flagship project is Vista, which covers approximately 10,000 hectares and provides a large scale, surface mineable, thermal coal development. Vista is located adjacent to CN Rail's main line, which is suitable for the transport of coal to deepwater ports on Canada's west coast. Coalspur has secured a port allocation agreement with Ridley Terminals Inc., which is essential to the logistics supply chain necessary to export coal from Vista to the growing demand from the Asia Pacific countries.
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