Is Phoenix ramping up for this huge Komex contract?
Infromation taken from newest releases
Mike Riley "One of the groups has been in mining for over a hundred years and is one of the largest mining companies in the world"
Vince Prumoto has interests in mining and trucking in the northeastern United States.
Mr. Alonzo added, "Together, with these two groups, our company is expanding its mining and trucking operations beyond its current gulf coast area and will be greatly expanding the capacity of its Murphy Sand and Gravel site in Pearl River, LA. Because of the high level of technical competence and experience in mining being brought into Phoenix by these groups, the Pearl River site will be mined much deeper than previously expected, therefore yielding vastly larger amounts of product than previously thought possible."
Phoenix indicated that numerous mining deals that the company was incapable of acquiring on its own are now not only possible, but are now being completed.
The first series of new acquisitions are a group of strip coalmines in the southern U.S. These mines are currently in operation and profitable. These mines have huge deposits of coal (non-sulphur) and limestone, which is the sandwich material between coal veins. Phoenix will have these huge amounts of limestone shipped to sites in the gulf region
As part of the Company's agreement with its new venture partners, many companies they currently own will be placed into the Phoenix group of companies to allow growth and expansion far beyond the current abilities of Phoenix and far beyond the physical boundaries currently supplied by Phoenix.
The Company indicated that production will be ramped up during the balance of 2007 with full production by January 2008. Additional equipment is being purchased for crushing, excavating, and blending the blended aggregate products so as to meet production schedules.
Phoenix will be releasing equipment purchases, other acquisitions currently underway to increase current capacity, and also required transportation acquisitions to properly move the massive amounts of product to ports for export.
Phoenix has begun purchasing crushed stone facilities to feed these products for processing into specific materials needed in building levees and concrete for roads, bridges and other construction work. The first of these purchases was Southern Concrete Crushing, as previously announced.
Another area of Phoenix expansion with the new venture partners will be in bulk fuel sales (gasoline, diesel fuel -- both on road and off road, and possibly aviation bulk fuel). Phoenix is closing on its first bulk fuel storage facility acquisition next week, a facility located in southern Mississippi. Phoenix expects a very strong move into this market over the next few quarters. Which we completed.
Current fuel requirements for operation of equipment at the previously mentioned mining and crushing sites exceed $500,000 every two weeks. The Company expects to cut that cost by about one third by supplying its own fuel.
Phoenix would like to thank the O'Riley family, the Promuto family and others, as yet unnamed, for making these deals possible for Phoenix Associates at this stage of the company's growth.
It sure sounds like they are ramping up for some serious business.
