OTCPK:NGMBF - Post by User
Post by
Stampede1on Nov 24, 2009 12:08pm
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Post# 16518246
Blue Gem Reserves
Blue Gem ReservesBlue Gem coal price will stay high;
"Coal Revenue
The owners recently signed a lease with Alden Resources LLC to mine approximately 5 million tons
of “specialty” coal with an option on an additional 5 million tons of proven reserves. This type of
coal is found only in a small region of Appalachia and is characterized by a very high BTU and low
ash content that is ideal for production of silicon and ferrosilicon metals used in over 5,000 products
worldwide. Alden specializes in mining this ultra low-ash coal and sells into ferrosilicon markets
both in the US and around the world. Part of the coal on the Gibbs-St. Clair property will be sold as
medium ash coal in the $80-$90 price range with the majority being sold worldwide to meet the ultra
low ash market demands at $115 to $120 per ton. As the addition of the Gibbs-St. Clair, Alden has a
near monopoly on the world’s remaining reserves of Blue Gem coal helping to ensure stability in the
market price for Alden’s reserves. The Gibbs-St. Clair property holds approximately 1/4 of the
remaining “specialty” Blue Gem coal reserves in Appalachia which is now under lease to Alden
Resources."
Stampede