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The Australia-listed company has started overburden removal, and will begin coal mining once surface infrastructure is in place, according to a Guildford statement released on Thursday May 30.
The excavation of the first standard type test pit has indicated a coal type close to prime coking coal, Guildford said.
It is currently having discussions with potential offtake parties.
Separately, Guildford announced on Friday May 31 that it has appointed Michael Wotherspoon as cfo. He will take on financial, commercial, treasury and strategic management functions at the company.
He was most recently cfo of the Tinkler Group. Previously, he was cfo of private equity firm Actis and spent about 10 years with Ernst & Young as an adviser to clients in Australia, India, the USA and the UK.
Wotherspoon will start on June 11 and will relocate to Brisbane from Sydney.