The Company is pleased to announce that Tom Young has been appointed Chief Operating Officer of the Company with effect from 19th March 2012.

Tom has twelve years of experience living and working in Asia in various project development and management roles for natural resource companies. His experience includes working for a start up project investment firm which developed coal blending facilities and other coal related projects in China and Indonesia.

In 2008, he joined Noble Group, Asia's largest diversified commodities trading company, as a Business Development Manager based in Jakarta, with responsibility for the development of logistics projects in Indonesia including mining haul roads and tug and barge fleets. In this role, he also originated new coal and nickel projects for the group in Indonesia.

As Director - Global Operations, Energy Coal for Noble Group based in Hong Kong, Tom managed back office trade operations for the group's energy coal business worldwide. Most recently, Tom worked as the group's Commercial Director, Mongolia, helping to establish business operations in Mongolia and northern China.

Tom has a BA from the University of Birmingham, UK, and an MBA from the Chinese University of Hong Kong.

Simon Dewhurst, Chief Executive Officer, commented:

"We are delighted to welcome Tom to the Company.  I am confident that his considerable operational experience will prove invaluable to us as we continue to develop our strategy and on-ground operations in Asia."