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Cooper Minerals Inc V.CQ



TSXV:CQ - Post by User

Post by MiksPikson Jan 09, 2011 4:20pm
314 Views
Post# 17945661

All Coal Related Heating Up

All Coal Related Heating Up

Hope we get going soon or I'm putting my money into one of these.


As well, shares of Royal Coal (TSX: V.RDA, Stock Forum) rose 20% to 30.5 cents as the coal exploration and production company announced that Sandstorm Metals & Energy has advanced US$2 million of the US$11 million total upfront coal purchase payment committed to Royal Coal. In accordance with the coal purchase agreement, the remaining US$9 million will be remitted upon completion of certain funding conditions, which is expected by February 2011.

Novadx Ventures (TSX: V.NDX, Stock Forum), meanwhile, reported that its wholly-owned subsidiary, MCoal Corporation, has received the initial US$5 million advance payment under the definitive Coal Production Payment Agreement with Sandstorm Metals & Energy previously announced on Nov. 26, 2010. This first payment entitles Sandstorm to receive a life of mine coal stream consisting of 8.5% of the metallurgical coal surface mined from MCoal's Rosa Mine for a fixed price of US$75 per ton. Novadx stock popped 10% to 45 cents.

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