National Coal, Emails.
Mr. Chmiel,
Of the acquisitions announced this year, U.S. Coal, TN Mining, Robert Clear Coal, and Appalachian Fuels LLC. Did National Coal purchase, or intends to, all of the mining rights and equipment of these companies or just partial? Does Zeb Mtn. come with Robert Clear Coal? Are all these companies currently operating and producing?
The revenues National reported for the last qtr., were these from the U.S. Coal and TN mining co.'s, or just U.S. Coal? Which acquisitions have been completed or are near completion?
REPLY.....
In the case of US Coal, as we announced, we acquired most of the assets. As for TN Mining, we have yet to close that transaction. We are now dealing with the new owner (New Horizon) but expect to close on substantially the same deal as was agreed to before.
As for Robert Clear, we have not closed on that transaction as yet. Once we do, we’ll make an announcement and file all the appropriate documents.
We have only recently announced the signed LOI for Appalachian Fuels. We expect to close that transaction once we finalize our financing.
With regards to revenue, we only report sales as they are made. We do not split out sales by mine.
Please look for upcoming announcements with regards to all these transaction.
Regards,
Rob Chmiel
CFO
