Coalspur Mines Limited (ASX:CPL) Appoints Mr. Robert Gough as Chief Financial Officer
(ABN Newswire Via Acquire Media NewsEdge) Vancouver, Canada, Aug 23, 2013 - (ABN Newswire) - Coalspur Mines Limited ("Coalspur" or "Company") (ASX:CPL) (TOR:CPT) is pleased to announce the appointment of Mr. Robert ("Rob") Gough as Chief Financial Officer with effect from October 1, 2013.
Mr. Gough, MBA, B.Com, CPA, previously worked at BHP Billiton for a cumulative 16 years that included a number of senior executive roles. Most recently Mr. Gough was Vice President Finance (CFO) for BHP Billiton's Energy Coal division based in Sydney, Australia. In this role he was responsible for the division's statutory and management accounting, Information Management and governance of capital investment, risk processes and compliance.
Mr. Gough's prior roles at BHP Billiton include VP Finance (CFO) in the Minerals Exploration division and VP Business Development in both the Energy Coal and Diamonds and Specialty Products divisions. During this time Mr. Gough worked in the United Kingdom, Australia and Canada and was involved with a number of successful market acquisitions across the various jurisdictions as well as numerous commercial transactions and other transaction opportunities.
Coalspur's President and CEO, Gill Winckler commented "Rob brings to Coalspur a diverse financial acumen across multiple industry segments, including the thermal coal sector, and significant expertise in public company corporate finance as well as corporate development. Rob's experience will serve us extremely well as we move towards construction on Vista. We are very pleased to have Rob join Coalspur, and his appointment now completes the building of the executive management team of the Company."
About Coalspur Mines Limited:
Coalspur Mines Limited ("Coalspur" or "Company") is a coal development company with approximately 55,000 hectares of coal leases located within the Hinton region of Alberta, Canada. Coalspur’s flagship coal project is the Vista coal project (“Vista”) which has the potential to be the largest export thermal coal mine in Canada.
Vista covers approximately 10,000 hectares and provides a large scale, surface mineable, thermal coal project. Vista has the advantage of leveraging off established first world infrastructure with CN Rail’s main line, located adjacent to Vista, which is substantially underutilised and provides a rail line 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 Rim countries, including China, Japan and Korea.
Vista is designed to reach a maximum clean coal production rate of 12.0 Mtpa, has a long mine life of 29 years and will be developed over two phases. Phase 1 envisages 6.0 Mtpa of clean coal production capacity at a capital cost of C$449 million. Phase 2 will provide for an additional 6.0 Mtpa clean coal production capacity for a total of 12.0 Mtpa. Construction on Phase 1 is expected to begin in 2013 with first production in mid 2015. Marketable Coal Reserves on Vista are 313 Mt from a Recoverable Coal Reserve of approximately 566 Mt.
Coalspur has offices in Calgary and Hinton in Canada as well as in Australia. The Company is dual listed on the Toronto Stock Exchange (“TSX”) under the symbol "CPT" and on the Australian Securities Exchange ("ASX") under the symbol "CPL".
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