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North American Gem Inc V.NAG



TSXV:NAG - Post by User

Post by wallywillon Aug 04, 2010 11:48pm
370 Views
Post# 17323019

mine #1 closure

mine #1 closureThere was a question on wether or not mine #1 was still operating or not. In the July 27th news it was officially announced that it was finished:

NAG has also completed production at the North American Gem Mine #1 site in Whitley County, Kentucky. The Jellico coal which averaged in quality less than 12% ash, less than 1.1% sulphur and greater than 12,200 Btu was sold to four buyers over the course of the mine's operations. Since North American Gem Mine #1 was opened for the primary purpose of initiating and streamlining NAG's Kentucky mining operations, the decision to conclude mining at the North American Gem Mine #1 was based on profitability analysis of the remaining coal at the mine and the need to dedicate assets to more profitable mining operations.

GLTA
Wallywill
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