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4 Apr 2012 12:00
-ANNOUNCEMENT 4 April 2012
Director Declaration
Pursuant to Rule 17 of the AIM Rules for Companies ("AIM Rules"), Coal of Africa Limited ('CoAL' or the 'Company') announces the following change to a director's disclosure under Schedule Two, Paragraph (g) of the AIM Rules:
Stephen Bywater, a Non-Executive Director of the Company has resigned from the Board of GCM Resources plc, effective 31st March 2012.
Save as disclosed above, there is no further information to be disclosed under the AIM Rules.
AUTHORISED BY:
Shannon Coates
Company Secretary
For more information contact
John Wallington Chief Executive Officer Coal of Africa +27 11 575 4363
Wayne Koonin Financial Director Coal of Africa +27 11 575 4363
Shannon Coates Company Secretary Coal of Africa +61 893 226 776
Chris Sim/ Jeremy Ellis/ Neil Elliot Nominated Adviser Investec Bank plc +44 20 7071 4300
Jos Simson/Emily Fenton Financial PR (United Kingdom) Tavistock +44 207 920 3150
Reuben Govender JSE Sponsor J.P. Morgan Equities Limited +27 11 507 0430
Charmane Russell/Jane Kamau Financial PR (South Africa) Russell & Associates +27 11 880 3924
+27 82 372 5816
www.coalofafrica.com
About CoAL:
CoAL is an AIM/ASX/JSE listed coal exploration, development and mining company operating in South Africa. CoAL's key projects include the Vele Colliery (coking and thermal coal), the Makhado Project (coking coal) and the Mooiplaats and Woestalleen Collieries (both thermal coal).
The Mooiplaats Colliery commenced production in 2008. The Woestalleen Colliery, acquired through the acquisition of NuCoal Mining (Pty) Limited in January 2010, currently processes approximately 2.5Mtpa of saleable coal for domestic and export markets. The Woestalleen Complex also incorporates three beneficiation plants with a total processing capacity of 350,000 ROM feed tonnes per month.
CoAL's Vele Colliery commenced production in Q3FY2012. During the initial phase, the operation is targeting 2.7Mtpa ROM production to produce 1Mtpa of saleable coking coal. The Makhado Project, CoAL's flagship project in the Soutpansberg coalfield, is well into the feasibility stage, with a DFS completed. Application for a new order mining right for the Makhado Project was submitted in January 2011.
In November 2010, CoAL agreed to acquire the Chapudi coal project and several other coal exploration properties in the Soutpansberg coal basin in South Africa from the previous owners, including Rio Tinto. Upon completion, the acquisition of these projects will significantly extend the scale and scope of certain of CoAL's existing projects in the region and will more than double the resource of the existing Makhado Project.
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