| Tue 22 Mar 2011, 7:30 | | FSE - Firestone Energy Limited - Operational update |
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FSE
FSE
FSE - Firestone Energy Limited - Operational update
FIRESTONE ENERGY LIMITED
(Registration number: ABN 058 436 794)
(SA company registration number: 200/023973/10
Share code on the JSE: FSE
Share code on the ASX: FSE
ISIN: AU000000FSE6
("FSE" or "the Company")
OPERATIONAL UPDATE
Firestone Energy Limited (ASX/JSE : FSE) is pleased to announce that it has
awarded the following major Infrastructure, Treatment Plant and Rail
contracts in relation to the development and construction of its coal mine
on the property known as Smitspan in the Waterberg region.
Infrastructure Contractors: Virtual Consulting Engineers
Virtual Consulting Engineers is a project management and consulting
engineering company, well-positioned to initiate, procure and manage
project teams that are specifically selected to meet Firestone`s
requirements. Virtual Consulting Engineers was established in 1999. The
company has over the years been a leading force as programme managers on
numerous major projects, which, amongst others, included infrastructure
maintenance, and infrastructure provision programmes.
Coal Processing Contractors: Ingwenya Mineral Tech Pvt. Ltd
Ingwenya Mineral Tech has extensive experience in the domain of coal
preparation to offer effective solutions in the area of Conventional Coal
Washeries. Ingwenya offers Firestone the latest and best technology in
coal processing through the HM Modular Coal Washery with capacities up to
150 TPH. It has experienced and highly skilled personnel for the design of
preparation plants to produce both power-generation coal as well as
metallurgical and coking coal.
Rail Contractors: RCE Consultants (Pty) Limited
RCE Consultants (Pty) Ltd is an independent railway and civil engineering
consultancy with offices in Gauteng, South Africa. The company provides
quality railway and civil engineering services, specializing in the
planning, design, and project management of rail and port-related projects.
RCE Consultants have a solid track record of delivering and is well
positioned to meet Firestone`s demanding schedule.
In addition the Board is pleased to announce that it has issued tenders
calling for submission of offers for contract mining of the Smitspan coal
deposit. The contractor meetings will be held over the next week in
anticipation of the appointment of a mining contractor by the end of April
2011.
The Chairman of Firestone Energy Limited, David Perkins said "The
appointment of these contractors is of great significance. Their combined
experience substantially de-risks this project, and together with the
mining contractor, when that appointment is announced, they secure for
Firestone the resources and skills required to bring into existence its
coal mining operations in the Waterberg."
David J Perkins
Chairman
About Firestone Energy
Firestone Energy is an independent Australian exploration company focused
on developing coal projects in South Africa. The company is currently
exploring the richly endowed Waterberg coal field in the Limpopo Province
of South Africa.
The Company is committed to value-added growth through becoming an
independent coal and energy producer at its projects in South Africa.
The Company has entered into three joint ventures with Sekoko Resources, a
South African black empowerment company (BEE) and Sekoko has two directors
on the Board of Firestone Energy.
Corporate Details
ASX: FSE
JSE: FSE
Issued Capital:
2,627 million ordinary shares
Major Shareholders:
Sekoko Resources (Pty) Ltd
BBY Nominees Ltd
Colbern Fiduciary Nominees Ltd
Bell Potter Nominees Ltd
Directors and Officers:
Non Executive Directors:
David Perkins (Chairman)
Dr Pius Kasolo
Colin McIntyre
Sizwe Nkosi
Peter Tshisevhe
Company Secretary
Jerry Monzu
Contact:
Suite B9, 431 Roberts Road
Subiaco, Western Australia 6008
Tel: +61 (0)8 9287 4600
Web: www.firestoneenergy.com.au
Pretoria
22 March 2011
Sponsor
River Group
Date: 22/03/2011 07:30:01 Produced by the JSE SENS Department.
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