Kentucky Energy (fka QMIN)

[KingofPennies]

$20.53 to $111.99 in the last 52 weeks.

http://paguntaka.org/2008/08/01/new-coal-mining-exploration-to-open-walter-industries-inc-mining-company-operation/

New Coal Mining Exploration To Open, Walter Industries Inc. Mining Company Operation
Coal producer Walter Industries Inc. approved a plan to open a new coal mine with 400,000 tons of annual capacity, expanding the company’s United Land subsidiary’s surface mining operations.

United Land will invest about $30 million to develop the mine, which will employ around 50 people, and will be located in Jefferson County, Ala.

The new mine, to be called Flat Top Mine, is a 600-acre surface coal mine with reserves of about 2.3 million tons of steam and industrial coal on land owned by the company.

Development of the mine will begin immediately, and, with permits already in place, the coal is expected to be available for sale by May 2009.

The board also voted to double the company’s quarterly dividend to 10 cents per share.

The dividend is payable on Sept. 12 to shareholders of record on Aug. 8.

Shares fell $1.65 to $105.64 in afternoon trading. The stock has traded in a range from $20.53 to $111.99 in the last 52 weeks.