County Coal, which is seeking to raise $A15 million through an IPO, is aiming to have a JORC measured coal resource base of 1 billion tonnes of export thermal coal within two years of its Australian Securities Exchange listing and reach producer status within five years.

Jakeman, who left Carabella abruptly in August after “irreconcilable differences with the board”, will use his significant experience to help develop County Coal’s projects, according to its prospectus.

“The mining advisory panel provides geological expertise and advice to the board on County Coal’s current projects at all stages of exploration and development, as well as advice on further potential projects in the USA,” it states in its prospectus.

“In due course County Coal intends to engage a chief executive officer to oversee the development of its operations in the USA and will consider, if appropriate, the appointment of a chief operating officer, as County Coal’s operations mature.”

Jakeman has worked in the Australian coal mining industry for over 35 years, the majority of which was spent with global resources companies including BHP, Shell Coal, Rio Tinto and Anglo Coal Australia.

He spent a significant part of his career managing large coal mining operations and was the head of operations for Anglo Coal Australia, where he was responsible for over 40Mtpa of coking and thermal coal production.

Cameron, who was founder and managing director of Centennial Coal, is also highly regarded.

He has had a long career as a senior manager in the coal industry, including 14 years with Coal & Allied Industries in the Hunter Valley.

In 1989 he formed Preston Coal Company, which was listed as Centennial Coal on the ASX in 1994. In October 2010, it was acquired by Banpu.

Centennial Coal operates 10 coal mines in NSW, producing around 19Mtpa.

County Coal intends to allocate about $7 million to the acquisition of projects, $2.3 million to drilling and work programs and $2.3 million to overheads with $3.4 million to be used as working capital.

It has acquired two coal projects and holds a number of options over other properties in the Powder River Basin in Wyoming, USA.

It recently carried out exploratory drilling and core sampling on its two projects at Shell Creek and Miller in Johnson County and Campbell County.

“Following the listing of the company, County Coal will carry out additional core drilling and definition work to further upgrade the tonnages and status of its current project resources, and seek to bring both projects to JORC measured coal resource status and subsequently JORC proved coal reserve status as soon as possible,” it states in its prospectus.

“County Coal also continues to assess and evaluate new project opportunities and intends, subject to favourable commercial and technical evaluation, to participate in new projects as appropriate.”