Proactiveinvestors Australia

Overview

Xceed is advancing to development a large open cast thermal coal project located in the Witbank coal field in South Africa. In addition, the Company has acquired rights to purchase a controlling interest in three other thermal coal projects; one of which is also located in the Witbank coal field whilst the other two are located in the adjacent Ermelo coal field. The projects were acquired or are to be acquired precisely because their location lends itself to ease of development and access to markets.

Historically, the Witbank/Ermelo/Highveld coal field has accounted for approximately 80% of South African coal production and apart from being the area in which most of South Africa’s electricity is generated, it is also situated adjacent to the country’s principal industrial and economic concentration around the cities of Johannesburg and Pretoria.

The advanced Moabsvelden project contains 66mt of coal, 96% of which is Measured in terms of the JORC Code. The key feature of the project is it low strip ratio (<2:1) and sizeable fraction of export quality coal. Regulatory approvals to enable mine construction are currently being sought.

The three other projects which the Company has acquired rights to purchase are subject to regulatory approval first being received for the transfer of ownership to Xceed. Applications for these transfers have been made to the regulators. When the requisite approval for the transfer of ownership has been received, this web site will be updated to include a separate project description for each new project. In the meantime, please refer to the ASX announcements page on this web site for further information on Roodepoort, Bankfontein and Vogelfontein projects.

Find Out About: Moabsvelden


Find Out About: Vogelfontein

Mr Patrick O’Connor – Non Executive Chairman BCom, SEP Stanford (USA), FAICD

Mr O’Connor is the Non-Executive Deputy Chairman of Perilya Limited (ASX:PEM) and Non-Executive Chairman of the Water Corporation and a Non-Executive Director of St George Capital Pty Ltd and SAS Telecom Pty Ltd. He has extensive leadership skills and wide experience in communicating with capital markets, shareholders and media.

Mr O’Connor has held the roles of Chairman and for a period Executive Chairman of Perilya Limited, the operator of the Broken Hill mine in NSW Australia, leading up to the change of control by Shenzhen Zhongjin Lingnan Nonfemet Co. Ltd (China’s third largest zinc producer). Mr O’Connor was previously the Managing Director of Macraes Mining Company Limited during which time he oversaw the development of the Macraes Gold Project and the acquisition of the Reefton Gold Project in New Zealand. Mr O’Connor was the Chief Executive Officer for Oceana Gold Limited at the time of its listing on the ASX and remained for a period as a non-executive director.

Mr O’Connor is the Chairman of the Remuneration Committee and a member of the Audit and Risk Committee.


Mr Ian Culbert – Managing Director BSc (Econ), B.Acc, CA

Mr Culbert was previously Managing Director of ASX listed Tritton Resources Limited and in that role oversaw the development and operation of the Tritton Copper Mine in New South Wales. Prior to this involvement, Mr Culbert was the Managing Director of another ASX listed company, Lafayette Mining Limited involved in the development of a base metal operation in the Philippines. Mr Culbert has also served as an executive of HSBC Corporate Finance in which role he was responsible for the provision of specialist financial advisory services to domestic and international mining and mining service companies. Mr Culbert has over twenty years experience in the resources industry.


Mr Stephen Belben – Finance Director BAcc, BCom (Hons) ACA

Mr Belben brings extensive finance, accounting and company secretarial expertise having previously been a partner in the Perth office of Ernst & Young for over 9 years and has considerable experience working with public and private company boards over 14 years. Whilst at Ernst & Young he was appointed the national partner in charge of that firm’s Minerals and Energy Industry Group responsible for the development of the firms client base in that sector in Australia.

Mr Belben served as the corporate and finance director of an ASX listed resources company, Auridiam Limited, with an operating mine in Southern Africa and has a good knowledge and background of the region.