Completes Key Board and Senior Management Appointments
Perth, Sep 18, 2014 AEST (ABN Newswire) - Anthracite coal developer Atrum Coal NL (
ASX:ATU) (ATRCF:OTCMKTS) ("Atrum" or the "Company") is pleased to announce a number of key Board and senior management appointments.
Commenting on the appointments, Executive Director Mr Russell Moran stated:
"We are pleased to welcome Theo to help spearhead our financial strategy at a time when we are negotiating anthracite offtake and project finance. Theo has an enviable reputation in financing major resource projects.
We also formally welcome James to the helm as Executive Chair, who is preparing to relocate to Canada, along with executive director Gino D'Anna, to oversee the next stage of Groundhog's development.
Having made the final VP appointment, Eric Lilford will step down as Managing Director and transition to a role within the Company's anthracite marketing advisory committee (AMAC). We look forward to Eric's contribution to AMAC and capitalising on his deep knowledge of anthracite, both technically and from a marketing standpoint."
APPOINTMENT OF MR RENARD AS VP COMMERCIAL
Mr Theo Renard CA (SA), CSA, MAICD has 20 years' experience in commercial and investment banking with a focus on the resources sector. He has held senior roles with The Standard Bank of South Africa, Deloitte & Touche and Nedcor Bank Limited. He was formerly Head of Credit for Nedcor Asia Limited, Director (Risk Management) and Executive Director (Relationship Banking and Portfolio Management) for ABN Amro, and Chief Financial Officer for Singer Asia Limited.
Mr Renard's appointment is an important milestone for the Company and crucial to the transition from developer to producer. He will be responsible for implementing both the financial strategy of the Company in the context of offtake negotiation and project finance, and he will work closely with the executive Board, VP Operations and VP Marketing, in developing and implementing financial policy and frameworks required to support the transition to an ultra-high grade anthracite producer.
Mr Renard retains a part-time role with Taurus Funds Management and Realm Resources Limited.
APPOINTMENT OF MR CHISHOLM AS EXECUTIVE CHAIRMAN
Mr Chisholm is a qualified engineer and has worked in the engineering and mining sectors for the past 30 years, initially in engineering, followed by management, marketing, M&A and finally in direct project investment. Mr Chisholm has effectively been working in an executive capacity since the initial public offering of the Company. Like fellow founding shareholders Russell Moran and Gino D'Anna, James shares the belief that Groundhog represents a multi-mine opportunity in a mining friendly jurisdiction. Together, Mr Chisholm, Mr Moran and Mr D'Anna and their associated entities have contributed more than A$10 million in equity and loan facilities during the Company's short two year public life.
Mr Chisholm will work with the executive directors as well as key management across all facets of the business including operational, marketing, public relations and financial. Over the next few months he will relocate to the Company's new Vancouver office along with Executive Director, Mr Gino D'Anna to help realise the Board's vision of developing the world's largest high grade and ultrahigh grade anthracite resource.
Ex-BHP coal veteran Mr Rick Greene, another recent appointment, is also preparing to move to Canada and assume the role of Mine Manager at Groundhog.
APPOINTMENT OF DR ERIC LILFORD TO EXECUTIVE OF AMAC
Dr Lilford will step down from Managing Director of the Company effective 30 September 2014 and has been appointed as an Executive on the Anthracite Marketing Advisory Committee (AMAC) effective 1 October 2014. AMAC will benefit from his solid research capability and his commensurate commitment to ensuring Atrum's high quality anthracite is used optimally in the global market to the benefit of the Company's shareholders and other stakeholders.
Dr Lilford PhD (Mineral Economics), NHD (Coal Mining), BSC and MSc Eng (Mining) was formerly National Head of Mining for Deloitte Touche Tohmatsu and was a Partner at Deloitte in the Corporate Finance division. He has over 25 years operational and investment experience across the global resources sector, with significant experience in anthracite markets.
The Company is focused on growing its key relationships with steel manufacturers and natural consumers of the high grade and ultra-high grade anthracite to be produced at Groundhog. Dr Lilford has a wealth of knowledge in anthracite marketing, environmental considerations and blast furnace technology which will assist Mr George Edwards and Mr Stephen Gye, existing AMAC executives, and ultimately assist Atrum in its broader anthracite marketing strategy.
About Atrum Coal Limited
Atrum Coal Limited (ASX:ATU) is a metallurgical coal developer. The Company flagship asset is the 100%-owned Elan Hard Coking Coal Project in southern Alberta, Canada. Elan hosts large-scale, shallow, thick, hard coking coal (HCC) deposits with a current JORC Resource Estimate of 298 Mt (70 Mt Indicated and 228 Mt Inferred). Comprehensive quality testing of Elan South coal on samples from the 2018 exploration program, combined with review of substantial historical testwork data for the broader Elan Project, has confirmed Tier 1 HCC quality.
The initial focus for development is the Elan South area, which is located approximately 13 km from an existing rail line with significant excess capacity, providing direct rail access to export terminals in Vancouver and Prince Rupert. Elan South shares its southern boundary with Riversdale Resources Grassy Mountain Project, which is in the final permitting stage for a 4.5 Mtpa open-cut HCC operation. Around 30km to the west, Teck Resources operates five mines (the Elk Valley complex) producing approximately 25 Mtpa of premium HCC for the seaborne market.
| ||
|
