Orpheus Energy announces changes in management team

By Romel S. Gurky

ASX-listed Orpheus Energy announced on Thursday changes to its board and senior management team.

David Smith is stepping down as Executive Director and Company Secretary, remaining on the Orpheus Board as a Non-Executive Director.

Orpheus Director Wesley Harder will assume the Company Secretary responsibilities in addition to his current role.

Orpheus Energy is an emerging Indonesian coal company with a quality portfolio of production, pre-development and exploration assets in Indonesia. With an initial focus on South Kalimantan, Orpheus? objective is to become a vertically integrated coal producer with diversified revenue streams through multi-project production, infrastructure and a trading division.

In addition to the steadily increasing production profile, the company boasts a current JORC Resource base of 3.45 million tons (Mt) with a growing exploration target of 10.45 - 17.95Mt. Orpheus is targeting a production rate of 2Mt per year in the low cost and strategic mining market of Indonesia, which holds significant growth potential.

Editing by johannes Simbolon