Home > Boards > US OTC > Miscellaneous > Wastech (WTCH)

Wastech, Inc. Details Acquisition of Coal Operations

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
WhiteNOC Member Profile
 
Followed By 34
Posts 2,409
Boards Moderated 0
Alias Born 08/23/00
160x600 placeholder
WhiteNOC   Friday, 06/30/06 09:49:36 AM
Re: None
Post # of 4417 
Wastech, Inc. Details Acquisition of Coal Operations

CHARLESTON, S.C., Jun 29, 2006 (PRIMEZONE via COMTEX) -- Wastech, Inc. (Pink Sheets:WTCH) (the "Company"), earlier today announced a $1.7 million deal to acquire approximately 600 acres of coal-enriched property in southern Illinois, for the purpose of coal reclamation, refining and combustible fly ash storage, as well as the potential for alternate coal refining capabilities suitable for various state and federal tax credits.
The property was previously the site for extensive coal mining operations until market conditions no longer justified continued operations, yet leaving over 7.2 million tons of coal fines on site, and various associated equipment in place for reclamation operations to be conducted by the Company. In addition, the site has the capacity for placement of 6-7 million tons of coal combustion waste and coal combustion by-product ("fly ash") upon surface areas, and 6-7 million tons below the surface into previous, deep mine voids, all from surrounding coal fired utility companies. The property is currently permitted and bonded, pursuant to Illinois Department of Natural Resources.

Wastech initially plans to re-mine existing coal fines and accept fly ash for a 10-12 year sustained operation, currently with prospective purchasers identified and distributors in place for disposal, yielding gross revenues, exclusive of tax incentives and alternate energy prospects, of $13-16 million.



Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist
Consent Preferences