I am a bit confused. .Thisis on the NAG web siye and dated Aug4 !!! Is this #2 the same site.Then why repeat the news??
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North American Gem Inc. has Commenced Mining BlueGem Coal at the North American Gem #2 Mine
August 4, 2010: North American Gem Inc. (NAG) (TSX-Vsymbol: NAG) through its subsidiary, North American Gem US, Inc. hascommenced mining Blue Gem and Thermal (Jellico seam) coal at the NorthAmerican Gem #2 Mine (Mine permit number #861-0513) in Knox County,Kentucky. This is NAG's first opportunity to mine the highly marketableBlue Gem coal which commands a price as much as 200% higher thanhigh-quality Thermal coal and is typically the highest priced grade ofcoal produced in the United States.
Kentucky Mine Partners LLC (KMP) is performing the mining operations atthe North American Gem #2 Mine. Initial production of the Blue Gem andThermal coal is planned for a combined production rate of approximately8,000 - 10,000 tons per month. The North American Gem #2 Mine will be asurface mining and augering operation. NAG has a buyer in place topurchase all of the coal produced from the North American Gem #2 Mine.Short term pricing of Thermal coal is tied to the NYMEX index
(https://www.eia.doe.gov/cneaf/coal/page/nymex/nymex_chart.pdf)which closed August 3rd 2010 at $68.85 per net ton loaded into a bargeon the Big Sandy River in Kentucky at a quality of >12,000 BTU,<1% sulfur, and < 13% ash which is the highest pricing for thisquality of Thermal coal since October 2008. To compare further, theprice of similar grade Central Appalachian coal was listed at $51.22 pernet ton at the close on January 4th 2010
(https://www.eia.doe.gov/cneaf/coal/page/nymex/nymex_report.html).
All of NAG's potential mining operations will incorporate sedimentcontrol methods that will keep ahead of the increased regulations andrestrictions. Furthermore, in anticipation of increased regulations, NAGhas, in all of its permitting applications, begun the sampling ofreceiving streams and groundwater wells utilizing the most stringent andextensive sampling parameters. This will allow NAG to comply with theregulatory requirements and will also result in a much shorter andsmoother permitting application process.
The North American Gem Processing Facility (Mine Permit #861-8012) willserve as the central operation and distribution point for coal producedby NAG's mining operations. The facility has equipment in place that iscapable of crushing, screening, and washing coal. This gives NorthAmerican Gem Inc. the added dimension to service a variety of customersby preparing coal to meet their specific requirements. North AmericanGem Inc. will also have the ability to purchase outside coal to producecustom blended products which will increase market potential.Specifically, plans are to service the industrial stoker markets,silicon metal producers, and electricity generators.
Mr. Dean Schafer is acting as general manager of all the Company'sKentucky coal leases and is currently implementing an overall mine plan.
Ms. Deborah Moses, PEng, PLS, REM, of Engineering Consulting ServicesInc. (ECSI) is the qualified person for the Company's coal operations inKentucky.
North American Gem Inc. (TSX-V symbol: NAG) is a junior resourcecompany in Western Canada. The company's major focus is expanding itscoal mining operations at its flagship properties in Kentucky. Inaddition, the company has interests in coal, copper, molybdenum, andother base metals in Canada.
On Behalf of the Board of Directors
NORTH AMERICAN GEM INC.
"Charles Desjardins"
Charles Desjardins
P