America West Resources Reports That New Continuous Miner Now Operational in Section Two of Horizon Mine
Coal Production from Both Sections Up to 1,650 Tons Per Day and Rising
SALT LAKE CITY, Feb. 22, 2011 /PRNewswire/ -- America West Resources, Inc. (OTC Bulletin Board: AWSR), a domestic compliant coal producer with mining operations in Central Utah, today announced that its new continuous miner, delivered in mid-January, has been successfully deployed in a second section of the Horizon Mine and is now being ramped up to fully operational status.
Within the first few days of having the new continuous miner in operation, coal production from both sections of the mine climbed to 1,650 tons per day and continues to steadily increase. It is anticipated that within the next the 30 days, the new miner will be fully operational, thereby increasing coal production at the Horizon Mine to approximately 60,000 tons per month. Once that level of production is achieved, America West Resources anticipates turning cash flow positive, marking a critical corporate milestone for the Company.
"For the past couple of years, we have remained firmly focused on executing a mine development plan capable of optimizing our valuable coal assets at Horizon and transforming America West Resources into a major domestic coal producer. With our second continuous miner now in operation, we are much better positioned to accelerate coal production and more effectively fulfill the needs of our customer base, which at this time collectively represents sales of up to $500 million for our Company over the next decade."
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 utility companies and industrial customers in the western U.S., China and Europe. The Company operates the Horizon Mine, which has recoverable, compliant, high BTU coal reserves. 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: |
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ELITE FINANCIAL COMMUNICATIONS GROUP |
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Dodi B. Handy, President & CEO (Twitter: dodihandy) |
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Or Kathy Addison, COO (Twitter: kathyaddison) |
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407-585-1080 or via email at [email protected] |
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SOURCE America West Resources, Inc.
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