America West Resources Receives $1 Million Spot Price Coal Contract From West Coast Co-Gen Power Plant
October 15 2009 - 7:30AM
PR Newswire (US)
SALT LAKE CITY, Oct. 15 /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 spot price coal
contract, valued at approximately $1 million, from a co-generation
power plant based in the western U.S. The one-time contract
provides for America West to immediately supply the co-gen facility
with compliant coal produced from the Company's Horizon Mine
located in Carbon County, Utah. Dan Baker, Chief Executive Officer
of America West Resources, stated, "Production from Horizon
continues to be outpaced by global customer demand for our
compliant thermal coal. Consequently, we are delighted to be in a
position to take advantage of selling our coal at favorable spot
prices, thus optimizing our margins and driving greater revenue
performance." 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. In addition, America West maintains
an undeveloped leasehold, known as the Columbia Property, covering
approximately 5,200 acres in Carbon County, Utah - near where the
Company is currently mining thermal coal from the Horizon Mine.
Based on geological studies, tonnage analysis and core hole
drillings, the Columbia Property is estimated to have 50 million
tons of raw, recoverable metallurgical grade coal reserves in
place. 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:
ELITE FINANCIAL COMMUNICATIONS GROUP, Dodi B. Handy, President
& CEO (Twitter: dodihandy), or Kathy Addison, VP, Elite Media
Group (Twitter: kathyaddison), +1-407-585-1080 or via email at Web
Site: http://www.americacoal.com/
Copyright