Industry veteran joins Thelon advisory board

CANADIAN firm Thelon Capital, seeking to advance its Jellico project in Tennessee, has appointed Appalachian coal veteran Timothy Webb to its advisory board.
Industry veteran joins Thelon advisory board Industry veteran joins Thelon advisory board Industry veteran joins Thelon advisory board Industry veteran joins Thelon advisory board Industry veteran joins Thelon advisory board

Thelan's Jellico project

Donna Schmidt

Webb has worked as a manager as well as an owner-operator in the region, experience the company said will help it as it continues work on the 6000-plus acre project just north of Knoxville.

Thelon is developing the auger, surface and underground Jellico complex in a joint venture with Fork Mining Company.

"We are very pleased to have Tim join our advisory board at the early stages of developing our Jellico Project and building our Appalachian coal mining business,” Thelon president Jason Walsh said.

Thelon also is in the process of closing a $US1 million non-brokered private placement arrangement.

Funds from that transaction will be used to commence the necessary drilling at Jellico for the completion of a National Instrument 45-101 report of the project’s measured and indicated coal resources.

There is already active production at the complex in Campbell and Claiborne counties, and the JV has reported being on target to produce 300,000t this year.

Once the underground mining portion of operations begins, that estimate will increase by about 10,000t per month and another 30,000-35,000tpm in the next couple of years with the surface operations, assuming continued positive strip ratios.

For more information about Thelon Capital, Clear Fork Mining and the Jellico project, check out the August 2010 edition of Coal USA Magazine, out now.

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