Active Control Technology (TSX: V.ACT, Stock Forum) announced Wednesday that the U.S. Federal Mine Safety and Health Administration has fully approved ActiveMine, its wireless voice communications and locating system for mines.
Trading in shares of the company was halted Wednesday, and resumed at 1:45pm ET, climbing 8.7% to 31 cents.
MSHA has now approved ActiveMine's wireless Wi-Fi phones, the final system component to be approved for use in all areas of underground coal mines. The company says the move “clears the final regulatory condition for all previously announced installations to proceed and paves the way to additional sales opportunities.”
"We look forward to working with many potential customers that have been anticipating our final approvals before finalizing their purchase decision," said Steve Barrett, president and CEO, of Active Control.
Active Control also noted that the completion of ActiveMine MSHA approvals comes approximately two months before the June 15 MINER Act deadline for all underground coal mines in the U.S. to submit mine safety plans that include provisions for wireless two-way communication and electronic tracking. There are approximately 650 underground coal mines in the U.S.
On the company’s Bullboard, ToneStemple1 said: “ACT 2 Starts today. This makes us the real thing[sic].”
While yyz_trader noted: “This is just the beginning.. China is next ....[sic]”
