While Wollongong Coal is facing various challenges, especially in regard to greentape hurdles for its Russell Vale longwall mine expansion plans, ICN heard that Stone’s position at Wollongong Coal is considered safe.

A Guildford spokesman told ICN that Stone had to provide five weeks’ notice to Wollongong Coal.

Interestingly, Stone’s resignation (announced on Thursday) came a week after he was appointed to Guildford’s board as a director.

In the appointment move, Guildford managing director Michael Avery said Stone’s extensive mining experience was a welcome addition to the board as Guildford continued to ramp up production in Mongolia.

On Friday Guildford said Stone took up the executive position alongside Avery as the company ramps up production and “evaluates potential expansion opportunities”

“Having a mining engineer as part of the executive leadership team with David’s experience and expertise in managing resource businesses for over two decades will be invaluable to Guildford’s Board of Directors and management team,” Avery said.