America West Resources Wins $8.3 Million Coal Supply Agreement With Major Power Agency in Western U.S.
July 02 2008 - 1:29PM
PR Newswire (US)
Customer's Option to Purchase Excess Production Provides for
Additional $12.45 Million in Potential Revenue to America West SALT
LAKE CITY, July 2 /PRNewswire-FirstCall/ -- America West Resources,
Inc. (OTC:AWSR) (BULLETIN BOARD: AWSR) , a domestic coal producer
with mining operations in Central Utah, today announced that the
Company has agreed to supply a major power agency in the Western
U.S. with coal produced from its Horizon Mine pursuant to a
12-month Coal Supply Agreement with a minimum contracted value of
$8.3 million. America West will also offer this agency excess
production above minimum contracted tonnage, and it has agreed to
use its best efforts to accept it, thereby providing America West
with the opportunity to realize up to $12.45 million in additional
revenue. America West recently announced that it commenced mining
operations in a second section of its Horizon Mine, which is
helping the Company to further accelerate coal production.
According to Alexander Walker III, President and CEO of America
West, "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." About America West Resources, Inc.
Headquartered in Salt Lake City, Utah, America West Resources, Inc.
is an established domestic coal producer focused on the mining of
clean and compliant (low-sulfur) coal and its sale primarily to
U.S. utility companies for use in generating electricity. Since
2003, the Company has extracted over 1.3 million tons of coal from
its owned and operated Horizon Coal Mine based in Central Utah. For
more information, please visit http://www.americacoal.com/.
Forward-Looking Statements This news release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Please refer to the
Company's Form 10-KSB and other filings with the United States
Securities and Exchange Commission (the "SEC") for additional
information regarding risks and uncertainties, including, but not
limited to, the risk factors listed from time to time in such SEC
reports. Copies of these filings are available through the SEC's
electronic data gathering analysis and retrieval system (EDGAR) at
http://www.sec.gov/. FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
ELITE FINANCIAL COMMUNICATIONS GROUP Dodi B. Handy, President &
CEO For Media Inquiries: Tiffany Korkis, Director of Elite Media
Group 407-585-1080 or via email at DATASOURCE: America West
Resources, Inc. CONTACT: For Additional Information Contact: Dodi
B. Handy, President & CEO, Elite Financial Communications
Group, +1-407-585-1080, or For Media Inquiries: Tiffany Korkis,
Director of Elite Media Group, +1-407-585-1080, Web site:
http://www.americacoal.com/
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