11 Aug 2010 08:35
Beacon Hill Resources plc / Ticker: BHR / Index: AIM / Sector: Mining
11 August 2010
Beacon Hill Resources Plc ('Beacon Hill' or 'the Group')
Strengthens Management Team with Appointment of Coking Coal Specialist
Beacon Hill Resources plc (AIM:BHR), the AIM listed resource company, announces that it has appointed Mr. Peter Wilson as General Manager, Mining, of the Group with immediate effect. Mr. Wilson has also been appointed as Chief Operating Officer of BHR Mining Limited ('BHR Mining'), the Company's joint venture company which owns the operating Minas Moatize coal mine in the Tete Province of Mozambique.
Mr. Wilson, who has more than 30 years experience in international mining and mining contract industries from project management to director level, will be responsible for Beacon Hill's daily mining activities. His primary focus will be on the advancement of the Minas Moatize coal mine and development towards achieving production of 2Mtpa of saleable coal.
Beacon Hill Executive Chairman Justin Lewis said, "I am delighted to formally welcome Peter to the Beacon Hill team following his invaluable consultancy work for the Group to date. Peter has been particularly instrumental during the acquisition of the Minas Moatize coal mine, and he will remain focussed on this project through his position as Chief Operating Officer of BHR Mining. His extensive experience in the mining industry, particularly in the coking coal arena, will continue to be of paramount importance as the Group evaluates additional opportunities in the region."
As part of Mr. Wilson's remuneration package, he is to be granted a total of 1,500,000 options of which 750,000 are exercisable after the first anniversary of granting and 750,000 are exercisable after the second anniversary of granting at the following exercise prices:
| Number of Options | Exercise price |
| 500,000 | 8.0p |
| 500,000 | 12.0p |
| 500,000 | 16.0p |
In addition, Mr. Timothy Jones, having taken on executive responsibilities as finance director of the Company, has been granted a total of 1,000,000 options, of which 500,000 are exercisable at 12.0p and 500,000 are exercisable at 16.0p.
**ENDS**
For further information on the Group, visit: www.bhrplc.com or contact:
| Justin Lewis | Chairman, Beacon Hill Resources Plc | +61 (0) 3 8637 1540 +61 439 162369 |
| William Vandyk | Astaire Securities Plc, Corporate Finance | +44 (0) 20 7492 4750 |
| Charles Vaughan | Astaire Securities Plc, Corporate Broking | +44 (0) 20 7492 4750 |
| Susie Callear | St Brides Media & Finance Ltd | +44 (0) 20 7236 1177 |
Notes
Beacon Hill Resources Plc (AIM:BHR) is an AIM listed resource company focussed on the acquisition and development of assets in commodities relating to the steel production industry.
The Group currently has two primary assets:
·; Minas Moatize Coal Mine in Tete, Mozambique
BHR Mining Limited owns the Minas Moatize coal mine, the only operating mine in the globally significant coking coal region of Tete, Mozambique. Since acquiring the mine in April 2010, the Group has made strong progress towards ramping up production with a focus on establishing a large open cast operation, capable of producing approximately 2Mtpa saleable coal.
BHR Mining is a joint venture between Consolidated Minerals, Global Coke Limited and Beacon Hill. The recently announced strategic investment by Global Coke values BHR Mining at US$210 million; following this investment Beacon Hill will own approximately 50% of BHR Mining. BHR Mining has an agreement to enter into an off-take agreement with Global Coke to purchase all the coking coal produced by the mine over its life at a price referenced to market rates from the mine gate.
·; Tasmania Magnesite NL, Tasmania
In October 2009 the Group acquired Tasmania Magnesite NL, which owns the Arthur River and Keith River magnesite projects in north-west Tasmania. The Group's initial focus is on the Arthur River project, which is the third largest recorded magnesite deposit in Australia, with a JORC compliant measured and inferred resource of 39 million tonnes of magnesite.
The Group is currently in the process of being granted a Mining Lease on the Arthur River project, with production targeted in Q4 2011. In tandem with the application of a Mining Lease, Beacon Hill has made solid progress with the Development Proposal and Environmental Management Plan at the Arthur River project. In addition to this development work, the Group will commence a further exploration and drilling programme in Q4 2010 to provide further uplift from the upgrading of the current measured and inferred resource of 39 million tonnes.