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FSE
FSE
FSE - Firestone Energy Limited - Appointment of Chief Executive Officer
FIRESTONE ENERGY LIMITED
(formerly: Centralian Minerals Limited)
(Incorporated in Australia)
(Registration number ABN 058 436 794)
Share code on the JSE Limited: FSE Share code on the ASX: FSE
ISIN: AU000000FSE6
(SA company registration number 2008/023973/10)
("FSE" or "the Company")
Appointment of Chief Executive Officer
Firestone Energy Limited ("FSE" or "Firestone") is pleased to announce the
appointment of Mr. Garth Higgo to the position of Chief Executive Officer with
immediate effect.
This significant appointment follows the recent shareholder approval of the
acquisition of two coal tenements in South Africa through a joint venture
agreement with Sekoko Coal.
Mr. Higgo has extensive senior executive experience in engineering and financial
disciplines in Australia and South Africa. He has also been responsible for
managing joint venture arrangements involving Black Empowerment Enterprises
(BEE). He relocated to Perth from South Africa in 2006.
Mr. Higgo was previously Chief Operating Officer (COO) of Consolidated Minerals
Limited. During this time, he was responsible for management and operating
efficiency of the company`s three mining divisions. He was Head of Corporate
Development and Strategy before his appointment as COO.
Prior to joining Consolidated Minerals, he was Group Manager - Joint Ventures,
Corporate Finance and Business Development for Anglo Platinum Limited. His
familiarity with operating in South Africa, particularly with BEE JV partners,
is a distinct advantage for Firestone.
The Board sees the appointment of such an industry experienced Chief Executive
Officer as a key element in the implementation of Firestone`s strategy, which,
in partnership with Sekoko Coal, aims to unlock the substantial latent value in
the Waterberg Coalfield of South Africa.
The scheduled drilling programme on the Vetleegte farm has concluded and the
Company now awaits assay results from laboratories, which are expected to be
available in the new year. A new drilling programme has been approved for the
Olieboomsfontein farm and is scheduled to commence at the beginning of December.
Pretoria
24 November 2008
Sponsor
River Group
Date: 24/11/2008 07:05:15 Produced by the JSE SENS Department.
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