The permit will be transferred to Engle Hollow Mining, LLC which will mine the leases under contract for a price of $40.00/net ton loaded into trucks to be transported to market. North American Gem will have sole and exclusive rights to market the coal produced at the Bay’s Hollow Mine.
Initial offers for the sale of the coal are for $58.00/net ton at <10% ash, <average 1% sulphur, and >12,500 btu for up to 30,000 net tons per month beginning immediately. This price is approximately $6.00-$8.00/net ton higher than prices quoted earlier in the summer.
4,000-6,000 net tons per month
"Based on the above figures, they already have secured contracts to bring them
$232,000 to $348,000 "NET" PER MONTH !!!
and
can increase to 20,000 "NET" tons per month,
meaning $1,160,000 PER MONTH NET INCOME."
riddlethis .........don't you have to subtract the $40 per net ton that NAG has to pay Engle Hollow Mining, LLC?
making it $72,000 - $108,000 PER MONTH ? (based on the 4,000 - 6,000 net tons production)