The global coal industry remains active and Micron Enviro Systems (MENV) announced it has been approved for 12 coal permits, with more expected to come before the end of the year.
The coal permits cover exploration and recovery mining rights for 22,456 contiguous acres in central east Saskatchewan, Canada, near a major new coal discovery. Micron applied for the permits in June. It was one of the first companies to attach itself to the discovery, made by Goldsource Mines Inc.
“MENV management is striving to continue to build shareholder value despite the current volatile overall market conditions,” said Bradley Rudman, Micron president. “MENV is anticipating additional coal permits to be granted, and management is continuing to evaluate opportunities in other areas with significant upside potential, including potash.”
MENV also still holds complete or partial Alberta oil sand 15-year leases (for 31,945 acres); they currently have little fiscal value as nothing has been found.
“These are difficult times,” said Rudman, “but MENV will push through and management will continue to provide shareholders with upside growth potential with the current projects in hand and potential new projects in the future.”
The company says its central goal now is to continue to build its assets base for long-term stability and growth.
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