Until Friday the new CEO was Chief Operating Officer of South Gobi Energy with a market cap of nearly AUD 2 billion. On Friday 31 July he resigned to take the helm of XEN and in addition put $200000 of his own money into a share issue. This adds just about all the creditability the Hinton Coal project needs. The experience he has and the contacts he would have within the Canadian Coal industry appear second to none. What a fantastic outcome for XEN. I am sure there are hundreds within Canada willing to back his experience in growing XEN into the next mid-tier Canadian Coal company which is XEN’s vision. If this is the case it would be a market cap north of 1 billion. Expect the interest to grow substantially given his immediate focus is to market XEN to North American, European and Asian investors. This is just the start.
XEN
xenolith resources limited
