Issuer Name: Pacific American Coal
Share on Issue: 118,830,884
Price (previous close): 10.5
Market Cap: 14,259,706
Capital raising done.
TA: PAK still accumulation, once it complete it will fly. MACD daily chart is just over 0 now:
PAK FA:
Pacific American Coal Limited (PAK, formerly Metals Finance Limited) is to focus
to deliver high value metallurgical coal opportunities in the Unites states of
America and Canada.
P8N MINE, OKLAHOMA: The P8N Mine is a conventional bord and pillar underground
mine producing around 0.35 0.45 Mtpa product coal from the Carboniferous
Hartshorne seam, using a single super section mining unit comprising two
continuous miners. The ROM coal is crushed and screened on site to produce a
domestic thermal product which is then trucked to a nearby power generation
facility. HGC estimated resources at P8N (totalling 15.1 Mt in the Hartshorne
seam, being 9.9 Mt Measured, 4.8 Mt Indicated, and 0.4 Mt Inferred) and signed
them off under JORC standards.
THE OKLAHOMA PROJECT: Areas of this project are located generally west and south
of the P8N Mine in central eastern Oklahoma, approximately 250km east of
Oklahoma City.
THE WAPITI PROJECT: This project comprises three coal licence applications
covering 2,400 Ha in the Peace River Coal Field in the Rocky Mountain Foothills
physiographic region. The Peace River Coal Field (PRCF) lies within the Rocky
Mountain Belt Coal Field, a belt of Mesozoic sediments, with coal seam
development in the Cretaceous Gething Formation.
ELKO COKING COAL PROJECT: Company undertook a strategic asset review with to
identify value assets, Elko was chosen as a priority asset. Commenced an
extensive research project including datamining reports, field investigations,
ground truthing and survey work. Company discovered a 257.5Mt JORC resource.
Elko contains the coal resource in the Crowsnest Coalfield behind Teck.
