America West Resources, a Utah-based coal mining outfit, announced the signing of a sizable coal supply agreement with a major Western-US power company. With a minimum price tag of $8.3 million, the one-year contract includes the option to purchase an additional $12.4 million worth of coal.
America West’s president and CEO, Alexander Walker III, had this to say: “We are delighted to become a preferred supplier of coal to this major power agency and look forward to optimizing this new relationship to strengthen our operating platform and advance America West through what is proving to be a very exciting growth period in our history.”
Growth is exactly what is happening here and perhaps even more rapidly than Mr. Walker implies. America West stock has done exceedingly well in the past week, rising from just nineteen cents on June 27th, to its current value of forty cents. Trading has been bolstered by recent production increases at the company’s Horizon mine, as well as yesterday’s supply contract announcement. Coal is the most abundant fossil fuel in existence, and could outlast oil as a method of powering our planet. It is for this reason that companies like America West Resources are here to stay.
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