[miningmx.com] – OPTIMUM Coal Holdings chief project manager,
Rowan Karstel, will take over the reins of Paul Miller as CEO of Keaton Energy, the
2-million-tonne-per-year coal junior company.
Miller, who ran Keaton from inception five years ago, said he would remain in the
junior mining or junior mining project financing space. He was formerly of Nedbank
Capital and helped finance several junior mining endeavours.
Miller said he would consult at Keaton for a six-month period, but would enjoy a
holiday over July with his family first.
Shares in Keaton Energy touched a 12-month high of R2.56/share, a development
Miller said he “… will take as a compliment’. Keaton recently posted a 145%
increase in headline earnings in the year to end-March on higher of R474m. This
compares to revenue of R35m the previous year.
Karstel, who was responsible for the development and execution of Optimum Coal’s
project pipeline prior to the company’s acquisition by Glencore International, was
welcomed by Keaton Chairman, David Salter, as “a worthy successor’.
“The board of directors is extremely grateful to Paul for his skill, dedication and
energy in walking the “hard yards’ with us over the past five years; he has
contributed immeasurably to the establishment of a solid production platform and we
are pleased he remains available to us during the critical handover period,’ said
Salter.
