KAL Energy Inc. (OTCBB: KALG) Stock Guru Profile
KAL Energy is moving forward in its coal production efforts in Indonesia and it’s getting noticed. TRI-STATE Capital (TSC) upgraded their equity rating on KALG today.
This strong upgrade comes at a time when the company has received five operational drill rigs and has conducted over 1000m of exploratory drilling thus far. KAL Energy has rapidly increased its on-site workforce to 128 people, including 8 geologists. The increased workforce and rigs will be used to explore their concessions for additional coal seams as well as to excavate the estimated 192 million tons of coal situated near the Mahakam River in North Eastern Kalimantan, Indonesia. The strong upgrade is also due to the company anticipating drill results from the Thermal Coal Project in the coming weeks.
A Quick Review Explains It All:
KAL Energy announced on March 7 that all of the heavy equipment for its $2,000,000 work program has arrived and is on site. Construction of the camp and all facilities for the 65 man workforce is near completion. This will provide for more efficient living and working quarters as Kal Energy increases its workforce for drilling and future mining operations on the property.
Five drill rigs are on the property and fully operational. Initial drill results are expected by March 15, 2007. Previous samples have demonstrated that the quality of Kal Energy’s thermal coal deposits contain very low sulphur and ash content — suitable for electricity generation. This is consistent with other coal producing companies’ deposits in Indonesia.
KAL is centrally located and the ability to float the coal down the river to the port is pivotal in reducing the costs associated with their coal.
This upgrade makes perfect sense.
Contact Info
KAL Energy, Inc.
93-95 Gloucester Place
London, W1U 6JQ
United Kingdom
Phone: +44 20 7487 8426
Fax: +44 20 7691 9725 (direct)
Email:
a.caminschi@mininghouse.com
KAL Energy Inc. (OTCBB: KALG), through its wholly owned subsidiary Thatcher Mining Pte., has the rights to two coal concessions situated near the Mahakam River in North Eastern Kalimantan, Indonesia. This river is a main transportation system for transporting coal to nearby markets. Consulting Geologist, Jonathan O’Dell, has estimated that blocks 16 & 24 could contain over 192,000,000 tons of thermal coal. Today Indonesia is the leading exporter of thermal coal and export prices vary from $30.00 to $60.00 plus per ton. This region has been an active coal exporter since the 1990s, and in 2004 Indonesia passed Australia as the largest exporter of thermal coal. Governmental signing was achieved on Sep. 14th, 2006. Title & Ownership structure has been extensively reviewed by HHP, the in-country affiliate of Baker & McKenzie International.
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