READ this if you own or want to own or maybe want to sell your shares. see if this helps your decision.
taken from their march 23nd news
As previously announced, the Company retained Mission Engineering, Inc. of Billings, Montana ("Mission") to prepare and submit a coal prospecting permit application to the Montana Department of Environmental Quality. In order to prepare the permit application, Mission is currently working on executing surface access agreements with the landowners within the Pace Coal Project area and will then design the best access routes for the drilling rigs. In addition, Ethnoscience, Inc. of Billings, Montana ("Ethnoscience") has been selected to perform the archaeological review of the drill hole locations once the access agreements are in place.
The envisioned drilling program will consist of 61 drilling locations and a total of 52,740 feet of drilling. The program's aim is to place a significant portion of the coal holdings of the Pace Coal Project in the proven and probable reserve classification, with an ultimate goal of establishing sufficient resources to support a greater than 20 year operational mine life.
so with that said, a month ago they have not even filled out a permit application. and they possibly haven't yet because they haven't said they have or given any updated info on that in a month.
apparently they are still working on surface access agreements with land owners in the area.
after those two things are done they will then design places for the drilling rigs. and then they'll have to get their permits.
i assume they will design places for drilling later on but wont set up fully or much at all until they know for sure they will receive the permits.
If you want to know how long that will take:
another company had the permit drilling activity initiated and expected a response 40 days later. Their next update was 8 months later and it said "is currently permitting the 2011 drill program."
what does that tell you?? it may take awhile. the two companies are in the same area (PRB)
that update 8 months later also said when they expected to break ground.
this has potential to be huge but buying now is flat dumb imo. this isn't a penny pump play just because it has a board on penny-stock-heaven-hub. this will not go until they break ground. it may go up a little bit once they get permits but why would it take off then? their business is mining the coal and selling it.. in a basic sense. so having the permits wont mean anything and this stock will not take off until operations have started. what if they get permits but never end up breaking ground? this is a long term play and no investor is going to put much, if any, money in these type of plays until coal is out of the ground.
two weeks before these guys break ground I'll find my way back here and will probably be looking to drop some serious cash for the long term. I'd fly out and check it out myself or have someone who is closer do it for me.
does anyone agree here? or disagree? lol
I'll be back in a long time from now. these things take a long time and it Will take them that long.
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