Appoints Chief Financial Officer
Sydney, Nov 30, 2016 AEST (ABN Newswire) - Atrum Coal NL ("Atrum" or "The Company") (
ASX:ATU) (ATRCF:OTCMKTS) is pleased to announce the appointment of Mr. Alan Ahlgren as Chief Financial Officer (CFO), commencing 15 December 2016. Mr. Ahlgren is a Chartered Professional Accountant who has extensive experience as CFO with Graphite One Resources Inc., AQM Copper Inc. and First Coal Corporation.
Before First Coal, Mr. Ahlgren served as Vice President Finance with Kinross Gold Corporation. He is a graduate of the University of Manitoba with a Bachelor of Commerce (Honours) in Accounting and Finance. Prior to 15 December, Mr. Ahlgren will support the Company generally in the finance area. He will work in Atrum's Vancouver office reporting to Executive Chairman Bob Bell.
Mr. Bell commented: "We are very pleased that Alan has accepted the CFO role within our executive team. Alan brings a wealth of experience in the Canadian mining industry including his tenure with a Canadian company First Coal while it was working towards development of a British Columbia metallurgical coal mine. Alan is a professional accountant who has managed all aspects of financial reporting and financial management of publicly traded mining companies. His skills and experience will add to the strength of Atrum's executive team."
Mr. Theo Renard, Atrum's Company Secretary and VP Finance since March 2015, has resigned from this role effective 15 December 2016 in order to devote more time to other responsibilities.
Atrum's Executive Chair, Bob Bell, said: "The Atrum Board of Directors thanks Mr. Renard for his dedicated efforts and positive contribution to the Company and we wish him continued success. The Company is in the final stages of appointing a successor as Company Secretary."
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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