RE: permits for prattthese are already in hand
here's the NR
Phoenix Coal receives mine permit for Pratt
2008-08-05 07:27 MT - News Release
Mr. David Wiley reports
PHOENIX COAL INC. ANNOUNCES RECEIPT OF MINING PERMIT FOR PRATT MINE
The Kentucky State Department of Natural Resources has issued a mine permit to Phoenix Coal Inc.'s subsidiary, Pact Resources LLC, for its Pratt mine in Webster county, Kentucky. The Pratt underground reserve is estimated to possess 28.9 million tons of proven and probable reserves with an additional 5.2 million tons of measured and indicated resource.
"This permit will allow us to begin construction on the Pratt mine which, when brought on-line, is expected to significantly increase our production," said David Wiley, chief executive officer of Phoenix Coal. "We have not made any long-term sales commitments for the coal at the Pratt mine, and as a result, our management team expects Phoenix to benefit from high prevailing prices that currently exist in the thermal coal market."
Phoenix is in the process of establishing equipment specifications with manufacturers, and delivery dates have been targeted in advance of the planned mine opening in 2010. Bid packages for the slope, ventilation shafts and surface facilities have been prepared and will be sent to contractors within the next 45 days.
Unless otherwise noted, all reserves and resources are expressed in imperial tons. Information in this press release relating to mineral resources or reserves is derived from the technical report prepared by Marshall Miller & Associates Inc. dated March 5, 2008, entitled "Technical Report on the Coal Properties of Phoenix Coal Corporation in West Kentucky, USA, for Phoenix Coal Corporation, Louisville, KY," and is as of Dec. 31, 2007.