America West Resources Awarded $18 Million Coal Supply Contract
2009年11月10日 - 11:36PM
PRニュース・ワイアー (英語)
Grants Customer Right to Purchase Up to Twice the Amount of Coal
Contracted - Potentially Yielding Up to $36 Million in Total
Revenues Over Five Years SALT LAKE CITY, Nov. 10
/PRNewswire-FirstCall/ -- America West Resources, Inc. (OTC:AWSR)
(BULLETIN BOARD: AWSR) , a domestic compliant coal producer with
mining operations in Central Utah, today announced that the Company
has received a five-year coal supply contract from a major U.S.
commodity producer and refinery. The contract, valued at $18
million, provides for America West to supply the company with
compliant coal mined from its Horizon Mine. The new customer has
also been granted the right to purchase additional tons of coal
each year over the life of the contract, which if fully exercised
could yield a total of $36 million of revenues to America West.
Commenting on the new supply contract, Dan Baker, Chief Executive
Officer of America West, noted, "Now that we have stabilized coal
production at Horizon and are currently producing approximately
30,000 tons per month from a single mining section, we are in
active negotiations with a number of new potential customers who
are seeking clean compliant coal to fuel their respective energy
needs. To that end, we are very pleased to welcome this new client
to our growing customer base and look forward to further expanding
the number of domestic and international companies we supply as
coal production from Horizon continues to ramp up." 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 http://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 http://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
DATASOURCE: America West Resources, Inc. CONTACT: Dodi B. Handy,
President & CEO (Twitter: dodihandy), For Media Inquiries:
Kathy Addison, VP, Elite Media Group (Twitter: kathyaddison),
+1-407-585-1080, Web Site: http://www.americacoal.com/
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