ForbesCoal Pitch Deck (2011): 37-Slide Breakdown

See all 37 slides of the ForbesCoal pitch deck — a 2011 deck in Mining — with a slide-by-slide teardown of what the deck does well and where it falls short.

ForbesCoal’s 2011 investor presentation serves as a technical roadmap for a publicly traded mining entity (TSX: FMC) seeking to capitalize on global coal demand. The deck emphasizes operational maturity, showcasing a management team with deep roots in Anglo Coal and Rio Tinto, and specific asset summaries for the Magdalena and Aviemore projects. A critical component of the narrative is the company's logistical breakthrough: securing a milestone agreement to increase export capacity at Richards Bay to 1,157,000 tonnes by 2013. By blending granular geological data with macro-level global trade…

Key takeaways

Executive Summary and Corporate Identity

Slide 1: Title Slide

The presentation opens with a clear identification of the company as ForbesCoal, listed on the TSX under the symbol FMC. It is dated July 2011. The subtitle identifies it as an "Emerging Southern African Coal Company" and notes its affiliation as a "Forbes & Manhattan Group Company." The background image shows an active industrial mining site, establishing immediate visual context for the sector.

The Human Capital

Slide 5: Experienced Management Team

This slide lists six key executives, focusing heavily on their technical credentials and previous industry affiliations. Stephan Theron (CEO) is noted for project finance and equity analysis. Malcolm Campbell (COO) is highlighted as a "fourth generation coal miner" with 20 years at Anglo Coal. Other members, including Johan Louw and Kuda Muchenje, bring experience from KBR, Rio Tinto, and Weir PLC. The emphasis here is on operational longevity and specific expertise in the South African coal market, which is a common requirement for resource-sector investors looking for execution capability.

Geographic and Operational Footprint

Slide 9: Established Mining Region

This slide provides a comprehensive map of Southern African coalfields. It identifies 51 distinct coalfields across South Africa, Zimbabwe, Botswana, Namibia, Mozambique, and Zambia. ForbesCoal’s specific projects—Magdalena Bituminous Coal and Aviemore Anthracite—are located near Dundee in the KwaZulu-Natal province. The map also highlights the Richards Bay Coal Terminal, establishing the physical link between the mines and the export gateway. This slide serves to prove that the company is operating in a proven, resource-rich geography rather than a speculative frontier.

Strategic Growth and Logistics

Slide 13: Positioned for Multi-Year Export Growth

Logistics are often the failure point for mining companies. This slide addresses that risk directly. It cites a "milestone agreement" from December 7th that increases export capacity from 197,000 tonnes to a total of 1,157,000 tonnes by 2013. Furthermore, it mentions a three-year offtake agreement with a "global energy trading company" for 1.75 million tonnes of thermal coal. This is a critical slide because it demonstrates both the ability to move the product and a guaranteed buyer, which stabilizes future cash flows.

Asset Deep Dives

Slide 17: Magdalena Bituminous Coal Operations

This is a technical data sheet for the company’s primary asset. It lists the location (Dundee, KwaZulu-Natal), resource size (51.7 million tonnes), and technical coal specs (12,250 BTU/lb, 15% ash, 16.7% volatility). It projects a production increase from 556,000 tonnes in FY2011 to 900,000 tonnes in FY2012. The inclusion of "Mine Life: Approximately +20 years" and the presence of an existing wash plant suggests a long-term, stable production environment.

Slide 21: Aviemore Anthracite Coal Production Profile

This slide uses a bar chart to show historical and projected saleable production for the Aviemore project. It shows relatively flat production from 2006 to 2011 (ranging from 20k to 102k tonnes) but forecasts a massive spike to 161k tonnes in 2012E and 420k tonnes in 2013E. The slide explicitly states an expectation to hit 500,000 tonnes per annum by FY2014. This represents the "growth" narrative of the deck, showing where the incremental value will be created.

Market Context and Macro Trends

Slide 25: Appendix

A simple transition slide marking the beginning of the supplemental data section.

Slide 29: Thermal Coal Global Overview

This slide provides the macro justification for the business. A world map illustrates trade flows, showing South Africa as a key exporter (66mt) primarily feeding India and North Asia. It notes that India and China are the major global importers. By showing that South Africa exported 23 million tonnes to India in 2010, the company aligns its growth strategy with the largest demand centers in the world.

Slide 33: Metallurgical Coal Global Overview

This slide focuses on the coking coal market, which is used for steel production. It includes a detailed table of "Global Thermal Demand and Supply Forecast" from 2009 to 2015F. The table shows a "Notional Balance" that is negative from 2010 through 2014, indicating a market deficit. The text argues that lack of geographical diversity in supply and high geopolitical risks in other regions will keep prices elevated. This justifies the company's focus on South Africa as a stable alternative to other riskier jurisdictions.

Conclusion and Contact

Slide 37: Contact Information

The deck concludes with direct contact details for the CEO, Stephan Theron, and the Investor Relations Manager, Sabina Srubiski. The company’s headquarters is listed in Toronto, Ontario, Canada, which is consistent with its TSX listing.

What Works in This Deck

Operational Specificity: The deck avoids vague promises. By providing BTU values, ash percentages, and specific tonnage targets (Slide 17), the company speaks the language of institutional mining investors. They treat the mine as a factory with measurable inputs and outputs.

Logistical Clarity: Many resource decks fail to explain how they will get the product to market. ForbesCoal dedicates a full slide (Slide 13) to their export capacity at Richards Bay, which is the single most important infrastructure point for a South African coal exporter.

Management Pedigree: The management slide (Slide 5) is exceptionally strong. Listing specific roles at Anglo Coal and Rio Tinto provides immediate credibility that the team understands the local regulatory and geological landscape.

What Is Missing

Financial Statements: While the deck mentions offtake agreements and production targets, it lacks a summary of the company’s balance sheet, current cash position, or historical revenue. For a company already listed on the TSX, investors would expect a snapshot of their financial health.

Cost of Production: The deck discusses sale prices and market demand but does not explicitly state the cash cost per tonne to mine the coal. Without unit economics, it is difficult for an investor to calculate the potential margin, especially in a fluctuating commodity market.

Risk Factors: There is no mention of the specific risks associated with South African mining, such as labor relations, power supply issues (Eskom), or regulatory changes regarding Black Economic Empowerment (BEE) requirements, which were significant factors in 2011.

Founder Takeaways

Quantify Your Bottlenecks: If your business relies on a specific piece of infrastructure (like a port or a server farm), show exactly how much capacity you have secured and how it scales. ForbesCoal’s Slide 13 is a masterclass in addressing a primary investor concern head-on.

Use Macro Data to Validate Micro Strategy: The global trade flow map on Slide 29 makes the company’s focus on India and China feel inevitable rather than speculative. If you are entering a market, show the flow of money and goods that makes your entry logical.

Technical Credibility is King: In industrial or resource sectors, your team slide shouldn't just list titles; it should list specific, relevant achievements. Mentioning "fourth generation coal miner" (Slide 5) is a powerful way to signal deep-rooted expertise that goes beyond a resume.

Frequently asked questions

What is the primary business model of ForbesCoal as presented?
ForbesCoal operates as an emerging Southern African coal producer focused on the extraction and export of bituminous and anthracite coal. The model relies on owning high-quality assets (Magdalena and Aviemore) and securing the necessary rail and port infrastructure to move product from the KwaZulu-Natal region to global markets via the Richards Bay Coal Terminal.
How does the company address logistical risks?
Logistics are addressed through a 'milestone agreement' mentioned on Slide 13, which details an incremental increase in export capacity. By moving from 197,000 tonnes to a total capacity of over 1.1 million tonnes by 2013, the company demonstrates it has solved the primary bottleneck for South African inland miners: getting product to the coast.
What are the specific technical specifications of their main asset?
The Magdalena project is the flagship, featuring 51.7 million tonnes of measured and indicated resources. It produces bituminous coal with an average heat value of 12,250 BTU/lb and 15% ash content. The slide notes a 20-year mine life and an existing wash plant and processing infrastructure, indicating a 'de-risked' operational status.
Who is the target audience for this coal production?
The deck explicitly targets the Asian market. Slide 29 shows global trade flows, highlighting that India and China are the major importers. It notes that South Africa is already a major supplier to India, and the company's three-year offtake agreement for 1.75 million tonnes of thermal coal provides the necessary cash flow to fund production ramping.
What is the significance of the management team's background?
The team is positioned as 'experienced,' with leaders like Malcolm Campbell (COO) being a fourth-generation coal miner with 20 years at Anglo Coal. This is intended to reassure investors that the technical challenges of mining in South Africa—such as geology, labor, and local regulations—are being handled by veterans rather than generalist administrators.
Cover slide of the ForbesCoal pitch deck — Public (TSX: FMC) 2011
ForbesCoal pitch deck, slide 1 (2011)

ForbesCoal pitch deck: the facts

Company
ForbesCoal
Year
2011
Stage
Public (TSX: FMC)
Slides
37
Sector
Mining / Coal
Deck type
Investor Presentation
Outcome
Active operations in 2011; later acquired/restructured
Headquarters
Toronto, Canada (Operations in South Africa)

ForbesCoal pitch deck PDF

The full ForbesCoal deck is embedded on this page and can be read slide by slide in the browser — no download or account required. Each slide is covered in the breakdown above.

What the Forbes & Manhattan Coal Corp. (ForbesCoal) pitch deck was used for

This is Forbes & Manhattan Coal Corp.’s July 2011 investor presentation for its newly listed public company on the Toronto Stock Exchange under the symbol FMC, following a reverse takeover and acquisition of South African producer Slater Coal. The deck positions ForbesCoal as an emerging Southern African coal company with strategic assets in KwaZulu-Natal and the ability to significantly increase production using existing infrastructure and access to export corridors. It highlights a recently completed bought‑deal equity financing at C$4.55 per share in early 2011, used to repay vendor notes from the Slater Coal acquisition and fund expansion capex at the Magdalena and Aviemore mines. The presentation is aimed at public-market investors, emphasizing production growth, export market exposure to India and China, and the transition from local production to a higher‑capacity export model supported by secured infrastructure agreements.

Business model: Emerging Southern African coal producer with two operating mines in KwaZulu-Natal (Magdalena bituminous coal and Aviemore anthracite), focused on supplying higher‑quality thermal and metallurgical coal to export and domestic industrial markets.

Year
2011
Investors
GMP Securities L.P. (co‑lead underwriter), Canaccord Genuity Corp. (co‑lead underwriter), Fraser Mackenzie Limited (syndicate underwriter).
Headquarters
Toronto, Ontario, Canada (corporate), with operating mines in KwaZulu-Natal, South Africa.
Industry
Coal mining / Thermal and metallurgical coal production.

Round: Public equity offering following TSX listing (bought‑deal prospectus financing).

Raised: C$36.4 million gross proceeds from 8,000,000 common shares at C$4.55 per share, with an over‑allotment option for up to 1,200,000 additional shares that, if fully exercised, would increase gross proceeds to C$41.86 million.

Lead investor: GMP Securities L.P. and Canaccord Genuity Corp. acted as co‑lead underwriters for the bought‑deal financing.

Use of funds as presented: Repayment of the vendor note from the Slater Coal asset acquisition, expansion capital expenditures at the Magdalena and Aviemore coal mines in South Africa, and general corporate purposes.

What happened after the Forbes & Manhattan Coal Corp. (ForbesCoal) deck

Following its 2011 TSX listing and equity financings, Forbes & Manhattan Coal used raised capital and debt facilities to complete the Slater Coal acquisition, expand production at its South African mines, and grow export sales, ultimately undergoing corporate changes that led to operations continuing under the Buffalo Coal name.

What the Forbes & Manhattan Coal Corp. (ForbesCoal) deck got right

What could have been stronger

How an investor would read this deck

What draws attention

Risks that stand out

Questions this deck invites

What founders can take from the Forbes & Manhattan Coal Corp. (ForbesCoal) deck

Forbes & Manhattan Coal Corp. (ForbesCoal) pitch deck: common questions

What does ForbesCoal do?

Forbes & Manhattan Coal Corp. (trading as ForbesCoal, TSX:FMC) is an emerging Southern African coal producer that owns and operates the Magdalena bituminous coal mine and the Aviemore anthracite mine in KwaZulu‑Natal, South Africa, supplying higher‑quality thermal and metallurgical coal mainly to export and industrial markets.

What was the purpose of ForbesCoal’s July 2011 investor presentation deck?

The July 2011 investor presentation was used to market ForbesCoal shortly after its reverse takeover and listing on the Toronto Stock Exchange, highlighting its Slater Coal acquisition, operational performance, and growth plans, and referencing a recently completed bought‑deal equity financing at C$4.55 per share intended to fund mine expansion and repay acquisition vendor notes.

How much capital did ForbesCoal raise around the time of this deck, and at what price?

According to the deck, ForbesCoal closed approximately C$42 million of equity financing at C$4.55 per share and a prior C$36 million private placement at C$2.80 per share, with proceeds used to finance the acquisition of Slater Coal and expansion of the Magdalena and Aviemore mines; a contemporaneous bought‑deal prospectus offering announced C$36.4 million of gross proceeds at C$4.55 per share, with an over‑allotment option that could bring total gross proceeds to C$41.86 million.

How were the funds raised by ForbesCoal intended to be used?

ForbesCoal used the equity financing proceeds primarily to repay outstanding vendor notes from the Slater Coal acquisition and to fund expansion capital expenditures at the Magdalena and Aviemore mines, as well as for general corporate purposes, in order to increase saleable production and export capacity.

What progress and subsequent developments did ForbesCoal report around and after this presentation?

At the time of the July 2011 deck, ForbesCoal had completed the acquisition of a controlling interest in Slater Coal, closed major equity financings, obtained NI 43‑101 technical reports, upgraded Magdalena’s mining operations, restarted Aviemore anthracite production, and begun trading as TSX:FMC, while subsequent disclosures show ongoing efforts to expand Magdalena to 1 million tonnes and increase Aviemore anthracite production, supported by additional debt facilities.

Sources

Funding and outcome facts on this page were researched on 2026-08-22 from the pages below.

ForbesCoal pitch deck slides

ForbesCoal pitch deck slide 1 of 37
ForbesCoal pitch deck — slide 1 of 37
ForbesCoal pitch deck slide 2 of 37
ForbesCoal pitch deck — slide 2 of 37
ForbesCoal pitch deck slide 3 of 37
ForbesCoal pitch deck — slide 3 of 37
ForbesCoal pitch deck slide 4 of 37
ForbesCoal pitch deck — slide 4 of 37
ForbesCoal pitch deck slide 5 of 37
ForbesCoal pitch deck — slide 5 of 37
ForbesCoal pitch deck slide 6 of 37
ForbesCoal pitch deck — slide 6 of 37

What each slide of the ForbesCoal pitch deck says

Slide 1

TSX: FMC July 2011 FORBES COAL T= EMERGING SOUTHERN AFRICAN COAL COMPANY Investor Presentation A Forbes & Manhattan Group Company

Slide 2

Ny Disclaimer FORBES COAL TSX: FMC This presentation contains forward-looking statements under Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the development potential and timetable of the Magdelena and Aviemore projects; the Company's ability to raise additional funds as necessary; the future price of coal; the estimation of mineral resources; conclusions of economic evaluations (including scoping studies); the realization of mineral resource estimates; the timing and amount of estimated future production, development and exploration; costs of future activities; capital and operating expenditures; success of explorati…

Slide 3

o Company Overview FORBES GOAL SX: FMC Forbes & Manhattan Coal Corp.'s (“Forbes Coal” or the “Company” vision is to build a high quality bituminous and anthracite coal company with potential capacity in excess of 10 million tonnes (“Mt”) per year Company Summary Headquarters: Toronto, Ontario Total coal resource 51.7 million tonnes Bituminous’ (NI 43-101): (measured and indicated) 35.7 million tonnes Anthracite! (measured and indicated) 15.1 million tonnes Anthracite! (inferred) Number of 2 (Magdalena Historical annual ‘run-rate’ 550,000 saleable tonnes mines: and Aviemore) production: Mine location: Kwa-zulu, Natal, 2-3 year target production: 900,000 saleable tonnes South Africa Bituminou…

Slide 4

-y - Investment Highlights FORBES COAL TSX: FMC RS D3 Strategic assets in one of the best developed coal markets in the world < Substantial resource base of high quality bituminous and anthracite coal + Ability to TRIPLE production from historic levels using existing infrastructure and capacity " In-place infrastructure to reach export corridors and growing domestic market < Substantial upside through organic production growth and opportunistic acquisitions 3o * Coal-focused management team sponsored by Forbes & Manhattan

Slide 5

-y Experienced Management Team FORBES COAL TSX: FMC = Stephan Theron, B.Comm, CGA President and Chief Executive Officer Extensive management, project finance and equity analysis experience in the mining, energy and infrastructure sectors Previous capital and project experience includes Weir PLC and AMEC PLC Former sector head materials and energy with a specific focus on South African coal market = Malcolm Campbell ,Pr. Eng. (Mining) Chief Operating Officer Fourth generation coal miner with 25 years industry experience Professional Certified Mining Engineer Skilled in operational management, turnaround strategies and business development Spent 20 years with Anglo Coal; held a variety of pos…

Slide 6

- Directors FORBES COAL TSX: FMC = Stan Bharti, P.Eng. Executive Chairman Business consultant and a professional mining engineer with more than 25 years experience President of Forbes & Manhattan, Inc., a private merchant bank operating in Canada, the U.S. and Western Europe, since July 2001 = Stephan Theron, 8.Comm, CGA, President and CEO = David Stein, MSc., CFA Director Over nine years of asset evaluation, research and corporate finance experience President and Director of Aberdeen International (seed investor in Forbes Coal) = Grant Davey, P.Eng. Director Mining Engineer with close to 20 years experience in coal, platinum and gold mining industry Previously held senior operational manag…

Slide 7

N Progress to Date FORBES COAL TSX: FMC Closed CDN$42 million capital raise at $4.55/share Released fiscal 2011 full year results: FMC Completed NI43-101 produced 648,000 saleable tonnes Technical Report Forbes Coal increased ownership in Slater (combined) and $16.5 million EBITDA (for 12 April 2010 Coal to 76.75% months ended February 28, 2011 at Slater pri Coal properties) Completed RTO within 60 days, began March 2011 May 2011 trading on the Toronto Stock Exchange under the symbol "FMC" September 2010 April 2011 June 2011 June/July 2010 /by December 2010 Signed three year offtake First fiscal quarter 2012 Aviemore anthracite Increased export capacity at ogreemem with leading production i…

Slide 8

Source: Company reports McCloskey Coal Report, March 22,2011 Thermal Thermal (bituminous) coal sold directly fo independent industrial companies in South Africa Thermal coal sold at circa US$80 per tonne vs low quality coal sold to Eskom priced at US$20 - 30 per tonne Demands increasing from emerging Asian markets, especially India and China Indian government expecting domestic coal shortfall of approx. 112 million tonnes for year ended March 2012; 35% increase from previous forecasts South African coal exports to India increased 161% 2008 — 2009 Chinaimported165 million tonnes of coalin 2010, up 31% from prior year - Coal Markets Overview FORBES COAL TSX: FMC Metallurgical Aviemore one of…

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