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CORPORATE DIRECTORY
DIRECTORS:
COMPANY SECRETARY:
REGISTERED AND PRINCIPAL OFFICE:
SHARE REGISTER:
STOCK EXCHANGE LISTING:
ASX CODE:
BANKERS:
SOLICITORS:
AUDITOR:
MR IAN MIDDLEMAS Ð NON-EXECUTIVE CHAIRMAN MR EUGENE (GENE) WUSATY Ð MANAGING DIRECTOR AND CEO MR ANASTASIOS (TASO) ARIMA Ð EXECUTIVE DIRECTOR MR MARK PEARCE Ð NON-EXECUTIVE DIRECTOR
MR MARK PEARCE
LEVEL 9, BGC CENTRE 28 THE ESPLANADE PERTH WA 6000 TEL: +61 8 9322 6322 FAX: +61 8 9322 6558
COMPUTERSHARE INVESTOR SERVICES PTY LTD LEVEL 2 45 ST GEORGES TERRACE PERTH WA 6000
TEL: 1300 557 010 INT: +61 8 9323 2000 FAX: +61 8 9323 2033
AUSTRALIAN SECURITIES EXCHANGE HOME BRANCH Ð PERTH 2 THE ESPLANADE PERTH WA 6000
CPL Ð FULLY PAID ORDINARY SHARES CPLO Ð LISTED OPTIONS
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED
HARDY BOWEN LAWYERS
PKF CHARTERED ACCOUNTANTS & BUSINESS ADVISORS
CONTENTS
PAGE REVIEW OF OPERATIONS 1 DIRECTORSÕ REPORT 9 AUDITORÕS INDEPENDENCE DECLARATION 23 INCOME STATEMENT 24 BALANCE SHEET 25 STATEMENT OF CHANGES IN EQUITY 26 CASH FLOW STATEMENT 28 NOTES TO THE FINANCIAL STATEMENTS 29 DIRECTORSÕ DECLARATION 69 INDEPENDENT AUDITORÕS REPORT 70 CORPORATE GOVERNANCE STATEMENT 72
COMPLIANCE WITH ASX CORPORATE GOVERNANCE RECOMMENDATIONS 79
ASX ADDITIONAL INFORMATION 80
COALSPUR MINES LIMITED ABN 73 003 041 594 (FORMERLY XENOLITH RESOURCES LIMITED)
REVIEW OF OPERATIONS
OVERVIEW
COALSPUR MINES LIMITED (ÒCOALSPURÓ OR ÒCOMPANYÓ) IS AN EMERGING COAL EXPLORATION AND DEVELOPMENT COMPANY WITH A LARGE SCALE, OPEN PIT POTENTIAL, THERMAL COAL PROJECT LOCATED IN THE HEART OF COAL VALLEY NEAR HINTON, ALBERTA, WHICH IS LOCATED IN CLOSE PROXIMITY TO EXISTING UNDER-UTILIZED INFRASTRUCTURE.
THE YEAR IN REVIEW HAS BEEN HIGHLIGHTED BY THE CONSIDERABLE PROGRESS MADE IN REGARDS TO THE DEVELOPMENT OF THE COMPANYÕS HINTON COAL PROJECT (ÒHCPÓ) ACQUIRED BY THE COMPANY DURING THE YEAR.
TO DATE THE COAL RESOURCE FOR THE HCP HAS BEEN ESTIMATED AT 467.3 MILLION TONNES OF LOW SULPHUR, HIGH VOLATILE BITUMINOUS C THERMAL COAL. SIGNIFICANTLY, THE MEASURED AND INDICATED COAL RESOURCES OF 421.6 MILLION TONNES REPRESENT 90% OF THE TOTAL COAL RESOURCE.
THE COAL RESOURCE AND ASSOCIATED COAL QUALITY ASSESSMENT HAVE CONFIRMED THE HCPÕS POTENTIAL TO DELIVER A LARGE SCALE, OPEN PIT, THERMAL COAL OPERATION PRODUCING HIGH QUALITY COAL SUITABLE FOR EXPORT INTO THE LUCRATIVE PACIFIC RIM MARKET.
THE COMPANY HAS NOW COMMENCED A SCOPING STUDY ON THE HCP, THE RESULTS OF WHICH ARE EXPECTED TO BE RELEASED DURING THE DECEMBER 2009 QUARTER.
THE COMPANY IS CONTINUING TO BUILD ITS PROJECT TEAM, HIGHLIGHTED BY THE APPOINTMENT OF MR GENE WUSATY AS MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER OF THE COMPANY DURING THE YEAR. MR WUSATY IS A HIGHLY RESPECTED CANADIAN BASED COAL INDUSTRY EXECUTIVE. IN ADDITION, THE COMPANY WILL OPEN AN OPERATIONS OFFICE IN CALGARY, ALBERTA WHICH WILL SERVE AS THE CENTER FOR ITS DEVELOPMENT PHASE.
OVER THE NEXT 12 MONTHS, COALSPUR WILL CONTINUE TO RAPIDLY ADVANCE THE HCP TO DEVELOPMENT STATUS, WHILST ALSO EVALUATING THE COMPANYÕS COALSPUR PROJECT (ÒCSPÓ). FOLLOWING SATISFACTORY COMPLETION OF THE SCOPING STUDY ON THE HCP, THE COMPANY PLANS TO ADVANCE TO A FEASIBILITY STUDY IN THE FIRST HALF OF 2010.
RIDLEY TERMINAL
CN RAIL
WESTSHORE TERMINAL
COALSPUR MINES LIMITED - ANNUAL REPORT 2009 1