John Wasik and Steve Boulton Retire from the Atrum Board
Sydney, Nov 24, 2016 AEST (ABN Newswire) - Atrum Coal NL ("Atrum" or "The Company") (
ASX:ATU) (ATRCF:OTCMKTS) advises that non-executive directors, Mr John Wasik and Mr Steve Boulton have elected to retire with immediate effect for personal reasons, and the vacancies allow the appointment of new directors to facilitate the Company's anthracite development strategy.
Bob Bell, Executive Chairman, commented: "John has elected to stand down from both the Atrum Coal NL and Kuro Coal Ltd boards for personal reasons. He has been a great support at Board level and I know both companies will miss his contribution and expertise. The Board thanks Mr Wasik for his dedicated service and wishes him continued success in his future endeavours."
Steve Boulton has also elected to retire from the Board and will similarly be missed for his contribution and expertise. The Board thanks Mr Boulton for his dedicated service, and also wishes him continued success."
"The vacancies provide an opportunity for Atrum and Kuro to appoint new directors who will assist us advance Groundhog and generate revenues from US anthracite sales."
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.
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