Vsus Technologies New (QB) (USOTC:VSUT)
Intraday Stock Chart
Today : Wednesday 20 June 2012
VSUS Technologies Inc. (OTCQB:VSUT) ("VSUS" or the "Company"), a metallurgical coal company in the Republic of Colombia, announced today they are in the final steps of acquiring their neighboring property. The Company also announces projections for their first year of production.
The Company has been in negotiations with one of its shareholders for ownership of the adjacent mining title believed to have over 115 MM tonne of mostly metallurgical coal reserves. Company president, John Campo, traveled to Colombia this week to take the necessary steps to close the transaction. This acquisition will bring reserves to an estimated total of over 130 MM tonnes.
"This new acquisition will make us more attractive to international investment bankers looking to enter Colombia's growing coal industry. Goldman Sachs $500 MM investment and India's Birla Groups expected $1 Billion investment in the Colombian coal sector is proof that Colombia has the most economically feasible coal projects in the world," commented company president John Campo.
VSUS Technologies expects to produce 30,000 tonnes of coal per month at their wholly owned La Tabaquera coal mine the first year of production; however, they may increase this projection considering the new acquisition.
Assuming a worst case scenario of selling mostly thermal coal at the mine's gate to local buyers, the Company projects $17 MM in revenue with a $4-5 MM profit the first year of production. Adding work units will increase this projection. Original production was projected to be 1000 tonnes per day using one work unit consisting of one excavator with a 2 ton bucket, one loader, and five 32 tonne dump trucks. Each work unit costs an estimated $1,000,000 and could produce $3,000,000 per month assuming metallurgical coal sales at the mine's gate for $100/tonne.
"This new acquisition will make us more attractive to international investment bankers looking to enter Colombia's growing coal industry. Goldman Sachs $500 MM investment and India's Birla Groups expected $1 Billion investment in the Colombian coal sector is proof that Colombia has the most economically feasible coal projects in the world," commented company president John Campo.
The Company will consult with its auditor on its ability to book this new asset for the value of the reserves in the ground. La Tabaquera reserves have an estimated appraisal of $70 MM; the new acquisition is expected to have 6 times as much.
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