David Stone has joined Wollongong Coal as chief operating officer and Richard Hutton has joined the company as chief financial controller.

“[Stone] is a highly successful leader of coal mines for global corporations,” the company said.

“Mr Stone’s impressive career spans over 20 years with unparalleled expertise in operating coal businesses.”

The company successfully raised around $84.7 million in two rights issue offers that were made in the last four months.

With the funds raised it has managed to pay all unpaid wages to staff and recommence paying staff on time as well as settling a number of the material claims and disputes that had been brought against the company.

Wollongong produced 265,000 tonnes in the March quarter compared to 375,000t in the previous corresponding quarter.

Russell Vale Colliery (formerly NRE No.1 Colliery) completed extraction of run of mine coal from longwall block LW5 in December 2013.

The primary focus at Russell Vale during the reporting quarter was to continue development of LW6, which is the next longwall block, with the expectation to install longwall equipment sometime in July 2014 and commissioning thereafter.

Approximately 40,000t of ROM coal was extracted from development activities during the reporting quarter.