Aim Exploration Inc (OTCMKTS:AEXE) has announced that it has completed the comprehensive report, on its ability to ship coal, throughout the year, through the Port of Salaverry. The report comes at a time when the prices of anthracite is at a 23-month high. Moreover, AEXE is in the process of preparing for extraction, loading and transporting coal, through the port.
In its report, the company noted that the port’s pier has a dept of 31-35 feet, which meets its demands for the coal shipments. Added to this, the required infrastructure is in place, as well as the quarantine stations. Aim further stated in the report that the port has so far met the requirements of potential clients, serving as a ship repair, refueling and maintenance port. The report further revealed that the company plans to make use of mobile cranes and 24-ton lists for loading the coal onto ships. It should be noted here that the port is not hampered by tide entrance restrictions nor by overhead limits. As such, Aim plans to ship 2-4 shiploads of anthracite on a monthly basis.
JR Todhunter, the CEO of AEXE, pointed out that anthracite is a necessary component in the manufacturing of steel and high-grade metal forging. He further revealed that anthracite is valued at $220-$400 per ton and is consistently on the rise. Mr. Todhunter was also of the view that the growing economy and associated energy demands mean that the prices would continue to move up, in the future.
In addition to this, the company has been working towards the setting up of a joint venture, with Prina Energy, a firm based in India. The venture would be headquartered in Dubai, UAE and is in the final stages of development. Aim intends to use the UAE clientele of Prina and its access to financing, to ensure long-term profitability of the joint venture.
Aim Exploration Inc (OTCMKTS:AEXE) more than doubled in terms of share value, during the December 19 trading session, when it posted a gain of 107.14%, on a trade volume of 30.11 million. The stock closed at $0.0145 at the end of the session.