New Colombia Resources Inc. Updates Shareholders on Progress of Metallurgical Coal, Oil Palm, and Organic Coffee in Colombia
Press Release : New Colombia Resources, Inc. – Mon, Oct 14, 2013 8:30 AM EDT RELATED QUOTES
| Symbol | Price | Change |
|---|---|---|
| NEWC | 0.032 | -0.010 |
|
|
||
BARRANQUILLA, Colombia, October 14, 2013 /PRNewswire/ --
?
New Colombia Resources, Inc. (NEWC) ("New Colombia or the Company") announces they are diligently working on their projects in Colombia. Company President, John Campo, is overseeing all three of the operations in cooperation with Erasmo Almanza and Diego Guarnizo.
Mr. Almanza is in Bogotá finalizing the agreement with the drilling company. The company received a preliminary proposal that is being enhanced to include the geological work needed to complete the N.I. 43-101. New Colombia had planned to contract SGS to do the geological and core sample registering work, but has decided it would be more beneficial to contract the driller to do both drilling and geology. The driller is a local company that works with a well known U.S. based mining and geological consulting company that will produce a N.I. 43-101. The company expects to sign the work order within the next few days so the drillers can apply for the drilling permit, which is expected to be approved within days of being submitted. The drillers already have equipment in the area. The company believes they are still on schedule to have the N.I. 43-101 in December.
Mr. Campo is on the Atlantic Coast developing the oil palm operation in conjunction with representatives of the developers of the GH 500 hybrid oil palm supergene seed and Maxima fertilizer from Malaysia. They have prepared the soil in preparation for the arrival of the seeds that are expected to arrive by FedEx on Tuesday or Wednesday. New Colombia is very pleased with the market opportunity there is for the distribution of these seeds. Although Colombia is the fourth largest producer of oil palm, many of the trees currently planted are not producing what they should. This is due to the fact many are male trees that can't produce fruit. Some are male and female that could benefit from the Maxima fertilizer. The company has received very positive feedback from the oil palm producers in the region that will replant with the GH 500 supergene seed once the nursery is set up. The ph levels in the region are 6.4 + which is some of the most fertile soil in the world. New Colombia has identified many farms that are currently under producing that they will approach for oil palm development. The company plans joint ventures with the farm owners.
Mr. Guarnizo is in Bogotá in discussions with organic coffee farmers, roasters, and packagers. Although he has an established relationship with suppliers, he will attend a coffee convention next week to amplify his choices. New Colombia expects to close the acquisition of Café Tolima Don Diego by next week. The company has decided to use the vacuum packed paper bag exterior packaging on their website to continue with the feel of natural organic. In Colombia there is only one other organic coffee on the shelf which sells for US$ 9 for a 283 gram bag. To view the packaging, go to http://www.cafetolimadondiego.com .
"Erasmo has applied for a considerable coal concession on behalf of New Colombia and we also registered New Colombia Resources, Inc. with the Chamber of Commerce in Bogotá
as the majority owner of Minera San Jose Ltda. I have received an invitation from one the largest energy and steel conglomerates in the world to discuss entering into a joint investment for thermal coal. This allows us to revive an LOI we had signed to acquire a 4000 ha thermal coal concession. I will be more specific on details as soon as I can, I'm in the field here in Colombia and communication is difficult in some parts," stated John Campo, President of New Colombia Resources.
Get News Alerts & Stock Updates for New Colombia Resources, Inc. delivered directly to your Mobile Phone. Text NEWC to 545454
(News alerts are free; however standard message & data rates may apply. Check with your carrier for more details.)
About New Colombia Resources, Inc.
New Colombia Resources, Inc. is focused on the acquisition and development of high-quality metallurgical coal properties and other available resources in the Republic of Colombia. They expect to have three revenue producing businesses; metallurgical coal mining, African palm distribution, and traditional and organic coffees. They own 100% of La Tabaquera metallurgical coal mine in Colombia with an estimated 15- 17 MM tonnes of reserves. They have another pending acquisition for 390 ha and a solicitation contract for 184 ha metallurgical coal concession. In October 2013 they are planting 2000 African palm trees for the production of bio-diesel in Colombia and they are acquiring an organic coffee company. Once the necessary financing is obtained, the Company plans to have additional revenue producing business units in Colombia: coal mining, coking oven facilities, docks, river, and rail transportation to export terminals in Colombia. The Company is also exploring allegiances with U.S. and Colombian universities to study capturing Coal Bed Methane (CBM) in Colombia. For more information on the Company visit http://www.newcolombiaresources.com .
T ransportation, Logistics and Other Information
New Colombia Resources intends to sell their coal at the mine's gate unless they enter into off-take agreements. At the right time, the Company plans to build or acquire river or rail loading facilities on the Magdalena River close to their mines. The coal will be trucked to these distribution centers, and then barged via the Magdalena River or by rail to terminals in Barranquilla, Santa Marta, or Cartagena for export. Initially they will use existing logistics providers while their transportation projects are being developed. After the rail projects and the "Road to the Sun" project are completed, New Colombia Resources will have one of a few metallurgical coal mines in the World with river, rail, and road access to coal export terminals on both the Atlantic and Pacific Oceans.
