Market Alert - Coal Producing Company Reaches Major Milestone for Metallurgical Coal Production Operations in Colombia
CORAL SPRINGS, Florida, December 19, 2012 /PRNewswire/ --
FinancialNewsMedia.com "Active Coal Producing Companies Watch" for today: VSUS Technologies, Inc. (OTC:VSUT), Walter Energy, Inc. (NYSE: WLT), Peabody Energy Corp. (NYSE: BTU), CONSOL Energy Inc. (NYSE: CNX)
Headline News: VSUS Technologies, Inc. (OTC:VSUT) reaches a Major Milestone by filing a Colombian PTO that will make the mining permit effective allowing VSUT to begin production once approved.
VSUS Technologies Inc. announced today that on December 13, 2012 they registered a PTO (Programa de Trabajo y Obras), or Works Programme with the Colombian Institute of Geology and Mining (INGEOMINAS) for its wholly owned coal Concession Contract # ILE-09551. The registered document number is 2012-14-11180. INGEOMINAS normally returns comments or approval within 30 - 60 days.
Stay informed on VSUS Technologies, Inc. developments by getting news alerts & updates delivered directly to your mobile phone by texting VSUT to 545454 from your cellular device or visit http://vsus.mobi for more details.
VSUS Technologies President, John Campo, commented, "Filing the PTO is a major milestone for our company since it makes our mining permit effective and allows us to begin production once it's approved." The Works Programme is a 208 page document that includes, among other things, geology, topography, reserve estimates, exploration activities, and a detailed mining design along with 9 geological maps and two timelines. This programme will be available to registered users on the company's new website being developed.
The programme identifies 5 coal seams; 3 are 80 cm thick with an estimated 4.5 MM tonnes of coal, and two are 160 cm thick with an estimated 10 MM tonnes of coal.
An Environmental Impact Assessment (EIA) is also required to begin production. VSUS Technologies expects to file an Environmental Impact Assessment soon. A letter from the company's engineering firm, Incoplan S.A., was filed with the CAR (Corporación Autónoma Regional) in Guaduas, Cundinamarca on December 11, 2012 outlining the contents of the Environmental Impact Assessment for Concession Contract ILE-09551.
Read the entire press release along with full companies disclosures by going here: http://www.financialnewsmedia.com/stock-investing-business-investing-news/featured-news.php?id=233
VSUT closed up 50% on Tuesday (12/18/12) at $0.012 price per share. As operations and developments continue for VSUS Technologies, Inc, traders should be closely monitoring this emerging coal production company. For more information on VSUT visit their website at http://www.vsustechnologies.com
For mining value in coal, other active coal production companies to watch are:
Walter Energy, Inc. (NYSE: WLT) is the world's leading, publicly traded "pure-play" metallurgical coal producer for global industry with strategic access to high-growth steel markets in Asia, South America and Europe. The Company also produces thermal coal, anthracite, metallurgical coke and coal bed methane gas. Walter Energy is a pure metallurgic coal play, and recent rumors suggest that the company may be an acquisition target of BHP Billiton (BHP). BHP, which likely has a more significant interest in a metallurgic play than a thermal play, will certainly benefit from the movement in China. WLT closed up 0.78% on Tuesday (12/18/12) at $36.22 on 2.16Million shares traded.
Peabody Energy Corp. (NYSE: BTU) recently provided comments on factors affecting first quarter and selected full year 2013 targets, following initial first quarter seaborne metallurgical coal pricing settlements. Compared with average quarterly year-to-date 2012 levels, first quarter 2013 results are expected to be impacted by: An increase in Australian unit costs of approximately 10 percent. Several factors will affect first quarter targets, including the timing of additional overburden removal at the Eaglefield and Wilpinjong mines that impacts both production and costs; startup costs associated with the transition to owner-operator status at the Wilpinjong and Millennium mines; and a larger proportion of higher-cost metallurgical coal. The company expects the first quarter to mark trough earnings, with results expected to increase as the year proceeds based on improving Australian production and margins. BTU closed up 2.78% on Tuesday (12/18/12) at $27.37 on 5.45Million shares traded.
CONSOL Energy Inc. (NYSE: CNX) is a Pittsburgh-based producer of coal and natural gas. It has 12 bituminous coal mining complexes in four states and reports proven and probable coal reserves of 4.5 billion tons. The company's premium Appalachian coals are sold worldwide to electricity generators and steelmakers. The Board of Directors for CNX recently accelerated the declaration and payment of the regular quarterly dividend. The Board declared a regular quarterly dividend of $0.125 per share, payable on December 28, 2012, to shareholders of record on December 21, 2012.
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