Aspire Mining’s Management Summary; Mr Sam Bowles Takes Charge As The Chief Operating Officer

Australian based metallurgical coal and infrastructure company, Aspire Mining Limited (ASX:AKM) announced the appointment of Mr Sam Bowles as the company’s Chief Operating Officer (COO), resident of Mongolia, on 25 October 2019.

Read here: Aspire Mining’ Mongolian Coking Coal Portfolio In Focus

Mr Bowles is a highly experienced coal mining executive charged with the delivery of the Ovoot Early Development Plan (OEDP), which is the early stage of the Ovoot Coking Coal Project in northern Mongolia.

Mr Bowles’ joins Aspire after having worked with TerraCom (ASX: TER), where he led the Mongolian Business Unit, overseeing the operation of the Baruun Noyon Uul coking coal mine in southern Mongolia. Prior to that, he served as the COO at Mongolian Mining Corporation (HKEX: 0.975) and looked after the Ukhaa Khudag and Baruun Naran coal mines operations and related infrastructure.

He completed his graduation from the University of New South Wales and holds a membership of the Australasian Institute of Mining and Metallurgy. Mr Bowles will complement Aspire Mining’s proposed new leadership team led by MD-elect Achit-Erdene Darambazar and act in a consulting capacity from November 2019 while his full-time tenure would commence in March 2020.

Aspire Mining’s Board and Management Team have a wealth of experience across exploration, project acquisitions, resource management and project financing.

  • Mr David Paull -Executive Chairman

Mr Paull was appointed as the Executive Chairman post the retirement of Non-Executive Chairman in March 2018. Mr Paull’s extensive experience of 28 years spans across resource business development and industrial minerals marketing. He has been serving as the Managing Director with Aspire Mining for the past seven years and was an active part of the company’s recapitalisation process and redirection to targeting Mongolian coking coal assets.

He also served as a Director with Hunter Resources PLC (AIM listed) from December 2012 to September 2018.

  • Mr Gan-Ochir Zunduisuren - Executive Director

Mr Zunduisuren, MSc in Global Finance and a Degree holder in Mining Engineering, is an Executive Director and co-founder of mineral resource focused investment company, Altai Gold LLC, and was a significant member of the syndicate that discovered the Ovoot Project. He has worked for more than 15 years in the resource industries of Mongolia and Canada, in the domains of underground zinc mining, gold mining as well as business development.

  • Mr Boldbaatar Bat-Amgalan - Executive Director (appointed 7 December 2018)

Mr Boldbaatar has previously served seniors roles in different departments of the Government of Mongolia including State Secretary - Ministry of Foreign Affairs and Chairman-Communication Regulatory Commission. He has also held senior leadership roles in the PR and publishing space and served as a director at Erdenet Mining Company.

  • Mr Neil Lithgow - Non-Executive Director

Mr Lithgow, a professional Geologist, has a wealth of nearly two decades of experience, having worked across mineral exploration (covering coal, base metals, iron ore and gold) as well as feasibility studies of different projects. He holds membership of the Australian Institute of Mining and Metallurgy and also a member of the Financial Services Institute of Australia.

His prior engagements have been with Aquila Resources Limited and Eagle Mining Corporation NL. At present, Mr Lithgow is also serving as a Non-Executive Director at Bauxite Resources Limited since his appointment in May 2006.

  • Ms Hannah Badenach - Non-Executive Director

Ms Badenach, a lawyer by profession, has practiced law for several years in Asia, which includes 2 years in Mongolia, has started her journey with Lynch & Mahoney in 2004. Thus, she holds a good experience in management and development within Mongolia. Her prior engagements include Managing Director at QGX Mongol LLC where she oversaw general management of the company until its acquisition in 2008.

Currently, Ms Badenach is an Executive Director, Mongolia & Base Metals, at Noble Resources Limited and also a Director at Mongolian focussed explorer, Xanadu Mines Limited (ASX: ) since her appointment in October 2011.

  • Mr Alexander Passmore - Non-Executive Director

Mr Passmore, a geologist by profession along with being a highly experienced and well-regarded corporate executive, has particularly worked in the financial and technical domains of the resource sector. Throughout his career, he has gained a diversified experience, having held technical roles in the industry and senior positions thereafter in institutional debt financing and equity capital market arenas.

His prior engagements include Director at Equator Resources Ltd, Managing Director at Cockatoo Island NL and Rox Resources Limited.

  • Mr Achit-Erdene Darambazar - Non-Executive Director (appointed 7 December 2018)

Mr Darambazar, a financial adviser to Mr Tserenpuntsag and President and CEO of Mongolian International Capital Corporation LLC (MICC), which is the first and well renowned investment advisory, stock underwriting and brokerage firm based in Mongolia.

He has led first bond offerings on the local stock exchange as an advisor for major Mongolian based companies including Gobi Corporation and MCS. He was also an advisor to a number of high-profile transactions in Mongolia, including the privatisation of the Trade and Development Bank of Mongolia and Agricultural Bank.

Mr Philip Rundell - Company Secretary

Mr Rundell spent more than two decades of his life as a Partner and Director of Coopers & Lybrand and Ferrier Hodgson, specialising in company reconstructions and corporate recovery. He has served on several listed companies, provided them with management accounting and company secretarial services.

Aspire Mining is currently focussed on advancing its Ovoot Early Development Project (OEDP), completion of its Definitive Feasibility Study (DFS), progression for the approvals, completion of other studies, and funding activities.

Read here: Aspire Mining’s Strategic Repositioning: Placement to Mr. Tserenpuntsag & Leadership Changes

Stock Performance

Aspire Mining has a market capitalisation of around AUD 39.92 million. On 25 October 2019, the AKM stock settled the day’s trading at AUD 0.012.


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