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- Bowen Coking Coal (BCB) has appointed Matt Latimore to the Board as a Non-Executive Director
- This appointment follows shareholder approval of a proposed marking joint venture (JV) and finance facility with M Resources Trading
- M Resources, which is Managed by Matt, specialises in marketing coking coal for steel manufacturing
- The joint venture with M Resources will be used to market, promote and sell coking coal from Bowen’s portfolio for blending purposes
- In light of Matt’s appointment, Non-Executive Chairman Steven Formica and Non-Executive Director James Agenbag have announced their intentions to resign no later than October 31
- Bowen is up an even 10 per cent and shares are trading for 5.5 cents each
Bowen Coking Coal (BCB) has appointed Matt Latimore to the Board as a Non-Executive Director.
This appointment follows shareholder approval of a proposed marking joint venture (JV) and finance facility with M Resources Trading.
M Resources, which is Managed by Matt, specialises in marketing coking coal for steel manufacturing.
Before this position Matt was General Manager of Sales and Marketing for Wesfarmers Curragh mine where he was responsible for the global sales of coal products to international steel mills.
“We are delighted to have Matt join the BCB Board, which is the first formal step in solidifying the relationship we’ve established, the ultimately will result in the trading activities of the marketing JV, which we have no doubt will be a success,” Managing Director Gerhard Redelinghuys said.
“Matt, together with the team at M Resources, brings an enormous amount of coking coal knowledge and experience to the table, which we believe will deliver material shareholder value of the course of time,” he added.
The joint venture with M Resources will be used to market, promote and sell coking coal from Bowen’s portfolio for blending purposes.
Additionally, the transaction documents provide Bowen with a finance facility of up to $15 million with it to be used for funding the development of its Isaac River Coking Coal Project and any other projects.
“I am very pleased to join the experienced Board of Bowen Coking Coal and work to develop and assist in marketing their extensive metallurgical coal assets in Queensland,” Matt said.
In light of Matt’s appointment, Non-Executive Chairman Steven Formica and Non-Executive Director James Agenbag have announced their intentions to resign no later than October 31 2020.
Bowen is up an even 10 per cent and shares are trading for 5.5 cents each at 3:42 pm AEST.
