Proactive Investor's  Instablog

Proactive Investor
Send Message
Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
My company:
My blog:
  • Ascot Resources Announces Board Changes 0 comments
    Jul 26, 2013 1:16 AM

    Ascot Resources' (ASX: AZQ) executive chairman Paul Kopejtka has stepped down from his position to take a less active role as a non-executive director of the company after successfully positioning it as a multi-project, emerging developer of metallurgical coal projects in Colombia.

    In his place, managing director Andrew Caruso has been appointed the executive chairman with effect from 29 July 2013.

    "Paul's substantial efforts in establishing an in country management team with local experience in project development is testament to his commitment to successfully delivering the Titiribi Project," Caruso said.

    "This commitment has been further demonstrated by the proposed acquisition of the Uraba Project and the investment of working capital into the company against extremely challenging market conditions."

    Earlier in the week the company announced that it is acquiring a 90% interest in the 5,000 hectare Urabá coal mining concession in Colombia that could offer synergy benefits - including production of a blended coal product - with its Titiribi Coal Project.

    Urabá preliminary assays from coal surface samples and trenching of weathered outcropping coal indicate a reasonably high rank coal with some elevated Free Swell Index's (FSI's), suggesting that the coal has the potential to contain metallurgical qualities.

    Coal from Urabá could potentially be blended with coal from Titiribi to produce a blended product with increased marketability and volumes.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

Back To Proactive Investor's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.