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Appointment of new Chief Executive Officer
FIRESTONE ENERGY LIMITED
(Incorporated in Australia)
(Registration number ABN 058 436 794)
Share code on the JSE Limited: FSE
Share code on the ASX: FSE
ISIN: AU000000FSE6
(SA company registration number 2008/023973/10)
("FSE" or "the Company")
About Firestone Energy
Firestone Energy Limited is an
independent, Australian exploration and
development company listed on the
Australian Stock Exchange Ltd (ASX) and
Appointment of New Chief Executive Officer the Johannesburg Stock Exchange (JSE).
Firestone Energy has entered into a Joint
Venture with Sekoko Resources (Pty) Ltd
The Board of Firestone Energy Limited (ASX/JSE: FSE) (the “Company”, through which Firestone Energy has
"FSE" or “Firestone”) wishes to advise of the retirement of Mr David Knox from acquired the right to 60% participation
the position of CEO of the Company, effective immediately. interests in the Waterberg Coal Project
located in Lephalale area, Limpopo Province,
Mr Knox has been CEO of the Company since September 2011 and has overseen South Africa.
the recent reorganisation of the Company and the Definitive Feasibility Study
(“DFS”) on the Company’s main undertaking, its Joint Venture “interest” in The The first stage of the project is to develop the
Waterberg Coal Project in the Limpopo Province of South Africa. Smitspan mine which has a substantial
measured thermal coal resource and to
The DFS for the project is expected for completion at the end of July 2013. It is
develop the Vetleegte mine which is a
anticipated that the DFS will confirm the economic viability for developing the
substantial metallurgical coal deposit.
significant Waterberg Coal Project. The Waterberg Coal Project Joint Venture has
a Memorandum of Understanding with Eskom Holdings Limited (“Eskom”), the
Firestone Energy is committed to becoming a
South African electricity generation and supply company to provide 10 mtpa of coal
profitable independent coal and energy
from the project. It is expected that the project will commence delivery of coal to
producer at its projects in South Africa,
Eskom in Q1, 2015.
thereby making a substantial contribution to
the social and economic development of the
The Board wishes to thank Mr Knox for his contributions over the period. During
Lephalale area and South Africa.
his tenure as CEO, the Company has made significant progress towards its
objective of becoming a significant coal producer in The Waterberg coal district of Corporate Details
South Africa. Mr Knox will continue in his capacity as a non-executive director of ASX: FSE
the Company. JSE: FSE
The Board of FSE is also pleased to advise that Mr Stephen Miller has been Issued Capital:
3,549 million ordinary shares
appointed to the position of CEO.
Major Shareholders:
Mr Miller has significant experience in the financing and development of large The Waterberg Coal Company Ltd
scale project developments of this nature; which experience will be drawn upon as Sekoko Resources (Pty) Ltd
the Waterberg Coal Project Joint Venture progresses towards the completion of Linc Energy Ltd
the DFS, the project financing and expected project start up in Q4, 2013. BBY Nominees Pty Ltd
Directors and Officers
Non Executive Directors:
Tim Tebeila (Chairman)
Dr Pius Kasolo
Ben Mphahlele
Kobus Terblanche
Timothy Tebeila Brian McMaster
Chairman David Knox
Firestone Energy Limited
Officers:
www.firestoneenergy.com.au Mr Stephen Miller CEO and Executive
Tel: Australia (+61 08 9287 4600) Director
South Africa (+27 11 706 3548) Ms Amanda Matthee CFO
Mr Jerry Monzu Company Secretary
4 July 2013
Johannesburg
Sponsor
River Group
Contact:
Suite B9, 431 Roberts Road
Subiaco, Western Australia 6008
Tel: +61 (08) 9287 4600
Web: www.firestoneenergy.com.au
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