OUR PURPOSE

The world’s accelerating electrification and industrialisation requires more steel. For factories and buildings, electric vehicles, and renewable power generation plants. It takes around 220 tonnes of coal to make one single wind turbine. More steel will require more hard coking coal because you can’t make steel without it. There’s no economical alternative and won’t be for decades. At Valory Resources, we’re serving a cleaner future, delivering a critical resource for the way we want to live while giving back to the host communities in which we work through investment and job creation.

We want to create value for stakeholders and shareholders by safely producing hard coking coal for the steel industry. We want to be a positive part of the Grande Cache and Alberta communities. We want to make minimum impact and leave the site completely rehabilitated when we finish.

Mine 14: Seam 10 3.2M Outcropping
Part of the Maxim and Valory team

COMPANY STRUCTURE

Valory Resources Sturcture

*Valory Resources has a binding option agreement to purchase Summit Coal (Mine 14) from Maxim Power Corp.

Leadership

Our Board has extensive experience in the energy and resources sector with vast expertise in project acquisition and development, mining and production of coking coal, and contract negotiation.

Vaughan is a civil engineer with over 30 years’ experience in mining and resources throughout the world. Co-founder and Project Development General Manager at Stanmore Coal (ASX:SMR), an Australian hard coking coal miner with a market capitalisation of over A$3 billion. Held management and consulting roles with major resources firms including most recently with BHP’s Olympic Dam.

A professional engineer, company director and executive with demonstrated success in all facets of mining activities. Has significant experience in underground coal globally and holds several patents related to underground coal mining practices and equipment. Former roles include CEO and Chair of Fitzroy Australia Resources, Managing Director of AMCI Australia, Managing Director of Vale Australia, CEO Coal Group for MIM Holdings, and Senior Mining Executive with the Thiess Group, amongst others.

Glenn is founder and Managing Director of GRT Lawyers, a leading Australian law firm specialising in initial public offerings and capital raising initiatives. He has served a number of publicly listed clients across the resources sector including Felix Gold, Duke Exploration, Cerro Resources, Coppermoly Limited, Santana Minerals and Polymetals Mining. Glenn is also founder and Chair of GRT Foundation, a not-for-profit organisation.

Glenn Vassallo
Ph: +61 422 857 760

An underground mining professional, company director and equipment specialist with demonstrated success in all facets of underground coal operations and equipment maintenance. Holder of several patents related to underground coal mining practices and equipment. Former roles include President Coal Group for Linc Energy, Director Australia Operations for Vale, Underground Equipment Operations Manager for the Thiess Group, Director Operations for Mining Technologies Australia (MTA), and Senior Service Engineer for Joy Global.

Scott was formerly Vice President and General Manager at CST Canada Coal Limited, an Alberta based hard coking coal mining company near Grande Cache and in close proximity to the Mine 14 Project. Previously performed a number of roles leading to General Manager with Grande Cache Coal Corp which operates both surface and underground hard coking coal mines.

Director of Back 2 Black Financial Services Pty Ltd which has provided financial services to a number of stand-alone projects within the mining sector including Minerva Joint Venture, Boggabri Coal, Mineral Resources, Mastemyne, Tradecore Industries and Oz Minerals. Expertise covers financial statement preparation, management reporting and analysis, budgeting and forecasting, financial modelling, and compliance and auditor management.

More than 45 years of coal mining experience around the world (Germany, USA, Australia, New Zealand, Canada, Czech Republic, Kazakhstan, Russia and Colombia). Certified as a Canadian APEC and International Professional Engineer since January 2015 and as an underground coal mine manager in Alberta and British Columbia. Experience extends across mine start up, development and extension projects (surface and underground). Widely regarded for his industry leading safety, cost control and production results during his career.

Our executive team has a combined 50+ years of public and private company leadership experience around the world with a track record of mine delivery.

Corporate Governance

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