America West Resources Inks $7.4 Million Deal to Supply Compliant Thermal Coal to West Coast Utility Company
SALT LAKE CITY, May 4 /PRNewswire-FirstCall/ -- America West Resources, Inc. (OTC Bulletin Board: AWSR), a domestic compliant coal producer with mining operations in Central Utah, today announced that it has agreed to supply a major west coast utility company with compliant thermal coal mined from the Horizon Mine, pursuant to an eight month agreement valued at $7.4 million.
"The time, expense and effort that have gone into establishing Horizon Mine as a valuable source of compliant coal for the world's power producers are yielding us tangible, positive results. In view of the new domestic and international coal supply contracts we've announced over the past several weeks, the outlook for America West's 2010 financial performance continues to strengthen, helping to fuel a tremendous sense of pride and enthusiasm at our Company," stated Dan Baker, Chief Executive Officer of America West.
About America West Resources, Inc.
Headquartered in Salt Lake City, Utah, America West Resources is an established domestic coal producer focused on the mining of compliant (low-sulfur) coal and its sale primarily to U.S. utility companies for use in generating electricity. The Company operates the Horizon Mine, which has recoverable compliant coal reserves under lease of approximately 19 million tons. For more information, please visit www.AmericaCoal.com.
Forward-Looking Statements
This news release contains forward-looking statements Please refer to the Company's Form 10-K and other filings with the United States Securities and Exchange Commission (the "SEC") for additional information regarding risks and uncertainties, including, but not limited to, the risk factors listed from time to time in such SEC reports. Copies of these filings are available through the SEC's electronic data gathering analysis and retrieval system (EDGAR) at www.sec.gov. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release which are not strictly historical statements, including, without limitation, statements regarding current or future mining output, ability to obtain necessary equipment, personnel and permits to mine coal, production capabilities, management's strategy, plans and objectives for future operations, plans and objectives for production, plans and objectives for present and future production, plans and objectives for regulatory approval, and anticipated results, constitute forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, including, without limitation, risks associated with coal production, mining in general and in our mines in particular, ability to achieve the coal output anticipated, ability to obtain permits, ability to hire and retain the necessary personnel, as well as other risks detailed in our filings with the SEC. We assume no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT: |
|
ELITE FINANCIAL COMMUNICATIONS GROUP |
|
Dodi B. Handy, President & CEO (Twitter: dodihandy) |
|
For Media Inquiries: Kathy Addison, VP, Elite Media Group (Twitter: kathyaddison) |
|
407-585-1080 or via email at [email protected] |
|
SOURCE America West Resources, Inc.
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article