- Last Trade: $0.023
- Change: -0.002
- Open: $0.0211
- High: $0.027
- Low: $0.0211
- Volume: 75000
BOGOTA, COLOMBIA - (http://www.FinancialNewsMedia.com
News Alert) - New Colombia Resources, Inc. (OTCQB: NEWC) submits application for additional acreage. In early 2011, the Colombian government suspended the granting of mining concessions in order to carry out a complete reorganization of the sector, including the creation of new entities to research, manage and monitor the development of the country's mineral resources. Colombia is the world's fourth biggest coal exporter and according to the 2012 BP Statistical Energy Survey, Colombia had end 2011 coal reserves of 6746 million tonnes, equivalent to 78 years of current production and 0.78% of the world total. This coal consists of high-quality bituminous coal and a small quantity of metallurgical coal.
South American mining companies received encouraging news last week that after a two-year suspension that Colombia’s national mining agency (ANM) has reopened its application process for new mining concessions through a web-based platform. The platform was launched on July 2.
Large-scale miners and junior explorers with operations and projects in Colombia, such as New Colombia Resources, Inc., see this as an opportunity to be in position to capitalize on Colombia’s highly sought after resources, as the country is the largest producer of coal in Latin America. Just last year, the country recorded an output of 89.2Mt. In 2012, Colombian officials have outlined 313 strategic mineral areas with a total of 2.9Mha. Metallurgical coal and other strategic minerals have been identified within the areas.
To immediately take advantage, New Colombia Resources has submitted an application for an additional 183 HA through ANM’s new platform. The company has received an application number and is hopeful to acquire more high-quality metallurgical coal properties to add to its portfolio, which already includes 100 percent of La Tabaquera coal mine.
About New Colombia Resources, Inc.
New Colombia Resources is focused on the acquisition and development of high-quality metallurgical coal properties in the Republic of Colombia. We own 100% of La Tabaquera coal mine in Guaduas, Colombia with an estimated 15- 17 MM tonnes of reserves, 70% metallurgical and 30% thermal coal. We have hired SGS Colombia S.A. to complete a N.I. 43-101 Technical Report; the company is in the process of completing a drilling program. We have applied for a work permit by submitting a works program with the Agencia Nacional de Mineria (ANM), our environmental impact assessment is 60% complete, it will be finished once the drilling results determine our mining plan and environmental impact. We expect to apply for our environmental permit and have our work permit approved in Q3 2013. The drilling program and N.I. 43-101 are expected to be completed in Q3 2013. Once the necessary financing is obtained, the Company plans to have three revenue producing business units in Colombia: coal mining, coking oven facilities, docks, river, and rail transportation to export terminals in Colombia.
Forward Looking Statements:
This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement containing works such as "anticipate," "seek," intend," "believe," "plan," "estimate," "expect," "project," "plan," or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include financing, the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations. New Colombia Resources, Inc. does not undertake any duty nor does it intend to update the results of these forward-looking statements.
Company Contact: New Colombia Resources, Inc.
(1) 410-236-8200 USA
(57) 318-657-0918 Colombia
SOURCE: New Colombia Resources
FN Media Group LLC (FNMG) owns and operates FinancialNewsMedia.com (FNM) is a third party publishing provider which disseminates electronic information through multiple online media channels. FNMG's intended purposes are to deliver market updates and news alerts issued from private and publicly trading companies as well as providing coverage and increased awareness for companies that issue press to the public via online newswires. FNMG and its affiliated companies are a news dissemination and financial marketing solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNMG's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. An offer to buy or sell can be made only with accompanying disclosure documents from the company offering or selling securities and only in the states and provinces for which they are approved. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. The companies that are discussed in this release may or may not have approved the statements made in this release. Information in this release is derived from a variety of sources that may or may not include the referenced company's publicly disseminated information. The accuracy or completeness of the information is not warranted and is only as reliable as the sources from which it was obtained. While this information is believed to be reliable, such reliability cannot be guaranteed. FNMG disclaims any and all liability as to the completeness or accuracy of the information contained and any omissions of material fact in this release. This release may contain technical inaccuracies or typographical errors. It is strongly recommended that any purchase or sale decision be discussed with a financial adviser, or a broker-dealer, or a member of any financial regulatory bodies. Investment in the securities of the companies discussed in this release is highly speculative and carries a high degree of risk. FNMG is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks.
This release is not without bias, and is considered a conflict of interest if compensation has been received by FNMG for its dissemination. To comply with Section 17(b) of the Securities Act of 1933, FNMG shall always disclose any compensation it has received, or expects to receive in the future, for the dissemination of the information found herein on behalf of one or more of the companies mentioned in this release. For current services performed FNMG has been compensated five thousand dollars for news coverage on past news releases. FNMG HOLDS NO SHARES OF New Colombia Resources, Inc. (OTCQB:NEWC)
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNMG undertakes no obligation to update such statements.