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FSE
FSE
FSE - Firestone Energy Limited - Firestone Joint Venture reports Progress with
Mining Rights Application for Waterberg Coal Project
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")
Firestone Joint Venture reports Progress with Mining Rights Application for
Waterberg Coal Project
Firestone Energy Limited (Firestone) (ASX/JSE: FSE) has been informed that the
application for mining rights made by its Joint Venture with Sekoko Resources
has been approved at the regional level by the Department of Mineral Resources
and has been transferred to the South African national office for the final
stages of approval.
Firestone`s Chairman David Perkins commented "The Firestone/Sekoko JV remains on
track to begin coal production in 2012. As previously announced to the market,
we expect the mining rights to be granted this month which will be a significant
milestone. Progress is also being made in obtaining debt financing for the
project with a major South African financial institution conducting a site visit
this week. These events are significant and, with the continuing development of
our relationship with Eskom, represent the successful execution of plans
previously announced to the market and the shareholders. Our management team
has developed sound and cooperative relationships with our regulatory and
commercial stakeholders and look forward to updating the market on our
achievements as they are accomplished."
Firestone would like to remind shareholders that the Share Purchase Plan (SPP)
closes at 5pm Wednesday 15 June 2011. Shareholders are being offered the
opportunity to purchase up to A$15,000 worth of shares at A$0.02 per share with
a free 3 year attaching option exercisable at A$0.04 per share for every 2
shares subscribed for under the SPP.
Mr Perkins said "I again encourage all shareholders to get behind our SPP. The
SPP is an ideal opportunity for existing shareholders to share in Firestone`s
promising future as an emerging coal producer."
If you have any queries concerning the SPP, please contact the SPP information
line on 1800 505 206 (within Australia) or +61 2 8256 3354 (outside Australia)
or Computershare Investor Services Pty Limited on 1300 850 505 (within
Australia) or +6194154 000 (outside of Australia).
David 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:
2,696 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
9 June 2011
Sponsor and Designated Advisor
River Group
Date: 09/06/2011 08:11:00 Produced by the JSE SENS Department.
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