America West Resources Signs $9.4 Million Master Coal Purchase and Sale Agreement
Company to Supply Compliant Coal to One of Europe's Largest Electricity Traders
SALT LAKE CITY, April 20 /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 entered into a Master Coal Purchase and Sale Agreement with one of the largest electricity traders in Europe. The Agreement, valued at approximately $9.4 million, provides for America West to supply the new customer with compliant coal mined from its Horizon operations and delivered pursuant to a predetermined monthly shipping schedule set to begin this month and continuing until December 2013.
Dan Baker, Chief Executive Officer of America West, stated, "This new agreement helps to further expand and diversify America West's customer base while strengthening and enhancing our standing as an emerging supplier of low sulphur bituminous coal to the global energy markets – a key corporate objective for our Company in 2010 and beyond. Currently, we are seeing an increasing demand for our coal and strengthening prices compared to historical averages."
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