Atrum Coal NL: Director Appointment - Craig Burton
Mr Burton has more than 25 years' experience in financing, developing and managing emerging resource projects in Australia, Canada and the UK. He has co-founded numerous resource companies. Seven resource projects co-founded by him have advanced from exploration into production, including two that became ASX/200 companies.
Mr Burton invested $2.5 million in Atrum's recent capital raising and is keen to assist the Board with a focus on advancing the Groundhog project.
Mr Burton is currently a non-executive director of two listed companies, Cradle Resources Ltd (ASX:CXX) and Capital Drilling Ltd (LON:CAPD).
Mr Burton said: "It's an exciting time to be involved in Atrum. Groundhog is arguably the best undeveloped high-grade anthracite asset in the world. There has been a little publicised collapse in the global supply of high-grade anthracite, forcing steel-makers to use more metallurgical coal and, in turn, putting pressure on the market. This favourable market dynamic for high grade anthracite is likely to stay for a considerable period of time making the development of Groundhog an outstanding opportunity."
Mr Burton (and associated parties) hold 5,000,000 shares in Atrum. In addition, the Company has agreed to seek shareholder approval for the issue to Mr Burton of 3,000,000 options to subscribe for shares in the Company exercisable at 70 cents each within four years of the date of issue. These options will be conditional upon Mr Burton remaining a director of the Company for at least 12 months.
About Atrum Coal NL:
Atrum Coal NL (ASX:ATU) is an emerging metallurgical coal explorer and developer. The Company has a substantial coal position in British Columbia which, as a region boasts:
- Abundance of high quality PCI, coking and anthracite coals
- Well developed rail and port infrastructure with excess capacity
- Access to deep sea ports
- Competitive shipping distance to Asia
- Positive government stance on mining
The Company is building a quality portfolio of metallurgical coal assets suited to the Asian export market and the Board of Directors have a strong track record in identifying and developing world class coal assets in Australia and abroad.
Atrum Coal NL
Robert W. Bell Executive Chairman
Theo Renard Company Secretary
Nathan Ryan Investor Relations