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- Aimed to maximize productivity and future expansion through second mine entry on Rex coal.
- Intended to significantly increase reserves, resources and mine life.
- Facilitates a quicker start-up of mining operations at Rex No. 1 mine.
https://www.newswire.ca/en/story/1053915/novadx-and-sandstorm-agree-to-acquire-additional-rex-coal-and-related-assets-in-tennessee
VANCOUVER, Oct. 16, 2012 /CNW/ - Novadx Ventures Corp. ("Novadx" or the "Company") (TSXV: NDX) announces that Novadx and Sandstorm Metals & Energy Ltd. ("Sandstorm") have entered into a Letter of Intent to acquire (the "Acquisition") certain coal properties and assets located in Campbell and Scott Counties, Tennessee generally known as Mine 12, the Turley Rail LoadOut, and the Smokey Junction Preparation Plant (the "Tennessee Properties") in the vicinity of the Company's Rex No. 1 Mine. The Tennessee Properties will be acquired from Premium Coal Company ("Premium") and National Coal, LLC ("National"), subsidiary companies of Justice Corporation, for an aggregate purchase price of US$8.5 million (the "Purchase Price").
more at above link.............