Post by
godman on Nov 02, 2011 10:16am
What a change
For months we have been hounded by bashers, now the pumpers are here!! For newbies.
The reality is we have the goods, 400 mil tons, not high quality but one notch down, of met coal, we have 5 continuous miners, two seams we are mining, the Apache seam which has at least one miner working, probably two now. The blue seam which is in the process of being opened up, that is almost complete, it has 3 portals and should be creating two super sections and possible a third, that is what the other continuous miners are doing.
By Jan we should be operating 4 super sections. We are running 24/7, workers work 12 hrs 7 days and then get 7 days off. So we have 4 crews of 75 each working around the clock.
Mitusi has 11 million shares and they are a big Japanese coal broker, so I do not believe sales will be a problem.
We have a railroad bed but it needs rails, cost about $25 mil will probably built out of sales, we now truck 25 miles to a load out at Jansen. Pics are on the web page
We have a port lease to ship from Christi on the Gulf of Mexico, it is closer than than the coal fields port in BC, but not shipping by sea to Asia, but to Brazil, which is very much closer and they are looking to be the largest steel producer but have a shortage of met coal, hummmm.
Personally I wish I had sold at $5, true, but I, unrealistically expected major production would have happened sooner. When you look at what has been accomplished this year I think we have made great progress. We have made great progress when you compare to most mining operations and we have not blown money, each continuous miner and back up equipment cost $11 million, thats $33 million, the same price, almost, that we sold Lossan property for.
We have been training workers, remember we are out in the middle of no where and there is not to many places to live, these things slow things down.
So the bashers come Miner and Malapak, on every run up to start their shorting BS.
We need another 6 months and will be in good shape unless the world falls apart or some MHSA bureaucrat wants to wield his power and try to stop creating badly needed jobs in America.JMHO
Comment by
godman on Nov 02, 2011 10:19am
By the way ARK is the best one here for informed and I would say knowledgeable information.
Comment by
godman on Nov 02, 2011 10:21am
Sorry ARK and ELGEN337, who has great info.
Comment by
ark88 on Nov 02, 2011 10:59am
Here's a link to the MSHA website that lists all the citations and orders related to safety violations at New Elk for the last year........https://www.msha.gov/drs/ASP/MineAction.asp