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International Coal Appoints Glenn Simpson As New CEO

International Coal (ASX: ICX) has appointed resources veteran Glenn Simpson as its chief executive officer.

ICX totted up a 45% increase in its share price across the past week with a rally to an intra-day high of $0.16 this week.

Simpson is a geologist with over 20 years of experience in the mining and energy sector, 10 years as geologist and operational manager with experience in government, tenure management, and business development.

He was previously the operations general manager for Coal Face Resources where he played a key role in identifying and evaluating new resource opportunities through Queensland, Western Australia and international target generation projects.

Other former appointments include business development manager and senior geologist at the Moultrie Group and manager - electricity policy & markets at the Queensland Department of Mines and Energy.

In addition, Simpson has co-authored publications on the Surat, Bowen and Yarrol Basins in Queensland and has a strong background in coal exploration and business development.

International Coal said it welcome Simpson and looked forward to benefiting from his expertise in developing new and existing thermal and coking coal prospects in Queensland.

Hugh Dai has resigned from his position of managing director of International Coal though he will continue to act as an executive director.

Recent progress

International Coal has had a very solid start to the drill program at the Bundaberg Project it is exploring with Hancock Prospecting subsidiary, Queensland Coal Investments.

Six exploration holes drilled at the project have previously returned samples showing coal seams encountered at 60 metres with more significant seams up to a drilling depth of 300 metres.

The results contained cumulative coal thickness of around 5.5-6.5 metres from drilling to 300 metres with seam intersections of 1-3 metres encountered.

The thickness of coal seams encountered by International Coal and Queensland Coal Investments is significantly greater than the seams encountered by a number of explorers in the area.

International Coal had in late November 2012, increased its Inferred Resource at South Blackall by 73% to 1.246 billion tonnes after Phase 2 drilling identified better and thicker coal seams across the project area.

It has also acquired additional coal tenements to its Surat Basin portfolio with an agreement to farm-in to 43 blocks held by Coal Face Resources.

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