New Colombia Resources Inc fka NEWC

[OneDay4488]

Stocks Trend Analysis Novavax, Inc. (NASDAQ:NVAX), CONSOL Energy Inc. (NYSE:CNX)
Oct 24, 2016 Maria Martinez

Shares of CONSOL Energy Inc. (NYSE:CNX) declined -3.81% to $17.41. Stock exchanged hands with the total volume of 3.81 Million shares, as contrast to its average volume of 4.85 Million shares. The 52-week range of the share price is from $4.54 – $20.66. For trailing twelve months, EPS value for the stock is $-0.56. New Colombia Resources, Inc., a Colombian resource company listed in the U.S. with premium metallurgical coal mining titles and medical marijuana subsidiaries is pleased to report on the status of a project to build a thermal coal power plant in Guaduas, Colombia. Company subsidiary, Compañía Minera San Jose Ltda. entered into negotiations earlier this year with a foreign entity to build a 300 Megawatt thermal coal power plant near their estimated vast coal reserves. This entity has secured a Letter of Intent for US$ 200 Million from a major construction company in China to join a consortium to finance the development of the coal operations to feed this new plant and construction of the power plant.

New Colombia Resources’ Director, Erasmo Almanza, received a report from the consortium partner on the status of negotiations of the installation of the thermal coal power plant in Guaduas. The report states there have been meetings with the financing team seeking the best financing option for the project and have modified the volume of power generation to optimize material inventory with time. A decision was made to program a meeting with Mr. Almanza after these adjustments are finalized to protocolize the negotiations and establish the new power company.

Guaduas is located 110 Km northeast of the capital of Bogota with an estimated 10 Million people. Colombia’s energy generation is dominated by hydro-electric which causes concerns during droughts and a weather phenomenon.

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