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REVIEW OF OPERATIONS (CONTINUED)
CANADIAN COAL PROJECTS (CONTINUED)
GEOLOGY
THE PROJECTS ARE LOCATED IN THE OUTER FOOTHILLS OF THE ROCKY MOUNTAIN THRUST BELT. THE ROCKS FORM PART OF A THICK SEQUENCE OF CONTINENTAL SEDIMENTS FROM THE SAUNDERS GROUP THAT OVERLIES THE MARINE WAPIABI FORMATION OF THE ALBERTA GROUP. THE UPPER CRETACEOUS-TERTIARY SAUNDERS GROUP IS OVER 3,600M THICK AND IS DIVISIBLE INTO THE BRAZEAU, COALSPUR AND PASKAPOO FORMATIONS. ALTHOUGH ALL THREE UNITS INCLUDE CARBONACEOUS PARTINGS AND THIN COAL SEAMS, MAJOR COAL DEPOSITS ARE RESTRICTED TO THE COALSPUR AND PASKAPOO FORMATIONS.
THE COALSPUR FORMATION IS APPROXIMATELY 600M THICK. A LACK OF MAPABLE MARKER HORIZONS, THE SIMILARITY OF LITHOLOGIES, POOR OR LOCALIZED OUTCROP EXPOSURE AND INCOMPLETE SECTIONS HAVE BEEN THE CHALLENGE OF MAPPING THE COALSPUR FORMATION. THE COAL-BEARING PORTION OF THE COALSPUR FORMATION CONSISTS OF ABOUT 250M OF INTERBEDDED SANDSTONES, SILTSTONES, MUDSTONES, BENTONITIC HORIZONS AND COAL, VERY SIMILAR TO THE UNDERLYING BRAZEAU FORMATION. THE ONLY SIGNIFICANT DIFFERENCE IS THE PRESENCE OF SEVERAL THICK COAL ZONES WITH A STRATIGRAPHIC INTERVAL OF 250M. THIS COAL ZONE IS 275M ABOVE THE ENTRANCE CONGLOMERATE WHICH FORMS THE BASE OF THE COALSPUR FORMATION.
THE COALSPUR FORMATION OUTCROPS ALONG THE EASTERN MARGIN OF THE OUTER FOOTHILLS BELT OF THE ROCKY MOUNTAINS. STRUCTURALLY, THE STRATA IN THE HINTON-COALSPUR AREA ARE CONTROLLED BY TWO REGIONAL FOLDS: THE ENTRANCE SYNCLINE AND THE PRAIRIE CREEK ANTICLINE. THE REGIONAL STRIKE IS 300¡ AND THE COAL DIPS TO THE NORTHEAST AT 6¡ TO 10¡. THERE IS A FAULT SOUTHWEST OF THE PROPERTY CALLED THE PEDLEY FAULT THAT DISRUPTS THE PRAIRIE CREEK ANTICLINE WITH MOVEMENT IN THE ORDER OF 250 METRES. HOWEVER, ON THE HINTON PROPERTY ONLY MINOR THRUST FAULTS HAVE BEEN ENCOUNTERED IN DRILLHOLES.
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DIRECTORSÕ REPORT
THE DIRECTORS OF COALSPUR MINES LIMITED (FORMERLY XENOLITH RESOURCES LIMITED) PRESENT THEIR REPORT ON THE CONSOLIDATED ENTITY CONSISTING OF COALSPUR MINES LIMITED (ÒCOMPANYÓ OR ÒCOALSPURÓ) AND THE ENTITIES IT CONTROLLED AT THE END OF, OR DURING, THE YEAR ENDED 30 JUNE 2009 (ÒCONSOLIDATED ENTITYÓ OR ÒGROUPÓ).
DIRECTORS
THE NAMES AND DETAILS OF THE GROUPÕS DIRECTORS IN OFFICE AT ANY TIME DURING THE FINANCIAL YEAR OR SINCE THE END OF THE FINANCIAL YEAR ARE:
MR IAN MIDDLEMAS MR EUGENE (GENE) WUSATY MR ANASTASIOS (TASO) ARIMA MR MARK PEARCE MR PETER WOODMAN MR GREGORY BURNS
NON-EXECUTIVE CHAIRMAN MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER (APPOINTED 17 AUGUST 2009) EXECUTIVE DIRECTOR (APPOINTED 19 FEBRUARY 2009) NON-EXECUTIVE DIRECTOR AND COMPANY SECRETARY NON-EXECUTIVE DIRECTOR (APPOINTED 19 NOVEMBER 2008, RESIGNED 31 AUGUST 2009) EXECUTIVE DIRECTOR (RESIGNED 19 NOVEMBER 2008)
UNLESS OTHERWISE STATED, DIRECTORS HELD THEIR OFFICE FROM 1 JULY 2008 UNTIL THE DATE OF THIS REPORT.
MR IAN MIDDLEMAS B.COM, CA
CHAIRMAN
MR MIDDLEMAS IS A CHARTERED ACCOUNTANT, A MEMBER OF THE FINANCIAL SERVICES INSTITUTE OF AUSTRALASIA AND HOLDS A BACHELOR OF COMMERCE DEGREE. HE WORKED FOR A LARGE INTERNATIONAL CHARTERED ACCOUNTING FIRM BEFORE JOINING THE NORMANDY MINING GROUP WHERE HE WAS A SENIOR GROUP EXECUTIVE FOR APPROXIMATELY 10 YEARS. HE HAS HAD EXTENSIVE CORPORATE AND MANAGEMENT EXPERIENCE, AND IS CURRENTLY A DIRECTOR WITH A NUMBER OF PUBLICLY LISTED COMPANIES IN THE RESOURCES SECTOR.
MR MIDDLEMAS WAS APPOINTED A DIRECTOR OF THE COMPANY ON 9 MARCH 2007 AND CHAIRMAN ON 16 MAY 2007. DURING THE THREE YEAR PERIOD TO THE END OF THE FINANCIAL YEAR, MR MIDDLEMAS HAS HELD DIRECTORSHIPS IN SALINAS ENERGY LIMITED (NOVEMBER 1995 Ð PRESENT), OMEGACORP LTD (OCTOBER 2000 Ð AUGUST 2007), GLOBAL PETROLEUM LIMITED (APRIL 2007 Ð PRESENT), SYNGAS LIMITED (MAY 2007 Ð FEBRUARY 2008), INDO MINES LIMITED (DECEMBER 2006 Ð PRESENT), MANTRA RESOURCES LIMITED (SEPTEMBER 2005
Ð PRESENT), NEWPORT MINING LIMITED (SEPTEMBER 2008 Ð PRESENT), MAVUZI RESOURCES LIMITED (JANUARY 2007 Ð MARCH 2008), ODYSSEY ENERGY LIMITED (SEPTEMBER 2005 Ð PRESENT), PACIFIC ENERGY LIMITED (JUNE 2006 Ð PRESENT), QED OCCTECH LIMITED (JULY 2001 Ð PRESENT), SIERRA MINING LIMITED (JANUARY 2006 Ð PRESENT), SOVEREIGN METALS LIMITED (JULY 2006 Ð PRESENT), FUSION RESOURCES LIMITED (MAY 2002 Ð MARCH 2009) AND BERKELEY RESOURCES LTD (JULY 2003 Ð NOVEMBER 2006).
MR EUGENE (GENE) WUSATY P.ENG.
MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER
PRIOR TO BECOMING MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER, MR. WUSATY WAS PRESIDENT OF IVANHOE MINESÕ COAL DIVISION AND THEN CHIEF OPERATING OFFICER OF SOUTHGOBI ENERGY RESOURCES LTD FOLLOWING ITS ACQUISITION OF IVANHOE MINEÕS COAL DIVISION IN 2006. PRIOR TO JOINING IVANHOE MINES, MR WUSATY SERVED AS VICE PRESIDENT AND CHIEF EXECUTIVE OFFICER OF GRANDE CACHE COAL CORPORATION.
MR WUSATY IS A PROFESSIONAL MINING ENGINEER WITH 25 YEARS OF MINING-RELATED OPERATIONAL EXPERIENCE, WITH RESPONSIBILITIES IN UNDERGROUND AND OPEN-PIT COAL MINING AND COAL-FIRED POWER GENERATION OPERATIONS IN ALBERTA AND BRITISH COLUMBIA. IN THE COAL INDUSTRY HE HAS WORKED FOR IVANHOE MINES LTD, ELK VALLEY COAL CORP, FORDING COAL LTD, QUINTETTE COAL LTD AND GRANDE CACHE COAL CORPORATION IN VARIOUS POSITIONS INCLUDING MINE MANAGER AND MANAGER OF ENGINEERING.
MR WUSATY WAS APPOINTED A DIRECTOR OF THE COMPANY ON 17 AUGUST 2009. DURING THE THREE YEAR PERIOD TO THE END OF THE FINANCIAL YEAR, MR WUSATY HAS NOT HELD ANY OTHER DIRECTORSHIPS IN LISTED COMPANIES.
COALSPUR MINES LIMITED - ANNUAL REPORT 2009 9