Alberta, Canada, Feb 28, 2013 - (ABN Newswire) - Coalspur Mines Limited ("Coalspur") (ASX:CPL.AX - News) (TOR:CPT.TO - News) is pleased to announce that Mr. Colin Gilligan has been appointed to the position of Chief Operating Officer ("COO") of Coalspur effective April 1, 2013. Mr. Gilligan will be responsible for the technical and operating aspects of Coalspur's 100% owned Vista Coal Project ("Vista"). Together with Coalspur's recently appointed Vice President: Operations, Mr. Gilligan will ensure the smooth development, commissioning and operation of Vista.
Mr. Gilligan, who will be based out of the Company's Vancouver office, brings 24 years of mining experience to Coalspur, having been involved in the development and operation of major operations internationally. In the near term Mr. Gilligan will be focused on expanding the owner's team and finalising the contractor and execution strategy for Vista to ensure the project can be delivered in line with schedule and budget.
Prior to this appointment, Mr. Gilligan served as the COO of Mitsui Coal Holdings Pty Ltd. ("Mitsui") where he oversaw annual production of 12 million equity tonnes of coal, from eleven joint venture operations. He was also responsible for devising and executing a growth strategy through acquisitions, organic expansions and investments.
Mr. Gilligan has extensive experience with contract mining execution and strategy. Prior to Mitsui, Mr. Gilligan was Executive Manager - Resources Development Group for Thiess Pty Ltd. In that role, Mr. Gilligan was responsible for mining, new business and technical support across the company's twelve mine sites which produced approximately 70 million tonnes per annum in Australia and Indonesia.
President and CEO, Gill Winckler commented "Colin's wealth of experience in developing and operating mines will be of immense value to Coalspur as we move into construction on Vista and prepare for production in early 2015. His experience with contract mining operations, and focus on capital efficiency and low cost operations, will stand us in good stead as we progress with our project execution. I am looking forward to working with Colin to position Vista as a high performing, low cost export thermal coal mine."
Colin said: "I feel extremely fortunate to be joining the Coalspur team. Vista is a world class asset and I am excited to be part of the construction and operations team tasked with delivering this important project."
About Coalspur Mines Limited:
Coalspur Mines Limited (ASX:CPL.AX - News) (TSE:CPT.TO - News) is a coal exploration and 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 also 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.
A feasibility study was completed on Vista in January 2012, which defined a two phased approach to project development. Detailed engineering has commenced and is scheduled for completion in early 2013. Phase 1 envisages production of 5.0Mtpa at a capital cost of approximately C$870 million. Phase 2 will increase production by a further 7.0Mtpa and will utilize free cash flow from Phase 1 to fund the estimated additional development costs of approximately C$373 million. The Vista mine plan defines a 28 year mine life with forecast annual production capacity of 12.0Mtpa. Marketable Coal Reserves on Vista are 313Mt from a Recoverable Coal Reserve of approximately 566Mt.
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".
Coalspur Mines Limited T: +1-403-261-9971 WWW: www.coalspur.com
Coalspur Mines Limited
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