AIM Exploration Inc. Winter 2016 Corporate Update
29.11.2016 | Accesswire
Mining Operations Logistics and Commencement for 2017HENDERSON, November 29, 2016 - AIM Exploration Inc. (OTC: AEXE) $AEXE was originally formed with the objective to develop a Feldspar mine in the Philippines and source other valuable mining properties worldwide. In mid-2014, AIM acquired what is considered a rich anthracite coal mining concessions in Peru.
Through this acquisition, AIM acquired ownership/control over 1,000 hectares of mining concessions located in Peru following an assessment.
By USA geologist/ mining engineer (Mr. Karl Gurr of Gustafson and Associates). The concessions appeared to be rich with anthracite coal and all samples tested indicated a very high quality of anthracite. On one section of the property, there were and continues to be approximately 20 operating mining tunnels that are being operated by artesian miners who reside close by. AIM has continued to allow the artesian miners to operate on their own. However, the company has contracted with virtually every miner to work strictly for AIM. In addition, AIM, intends to further explore and develop the properties. One of the reports the previous owners (Percana) obtained by a qualified Peruvian geologists estimated there are in excess of six hundred million tons of coal within their properties. We must advise, however, this report is not 43-101 compliant and therefore cannot be relied upon for investment purposes. Nonetheless, AIM believes strongly in the report.
AIM has developed a very strong relationship with an Indian firm (Prina Energy) to market the coal and is now in the final stages of setting up a joint venture operation headquartered in Dubai UAE DMCC, a strategic move for long-term growth and profitability for AIM, Prina has strong ties in the UAE not only with high-level long-term buyers but access to appropriate financing which AIM will require for operational working capital.
This joint venture will be completely set up in the very near future and operations will commence.
It is anticipated that commencing January 2017 all the operations will be underway and shipping of coal is anticipated for March 2017.
Forward-Looking Statements Certain information set forth in this press release contains "forward-looking statements" and "forward-looking information" under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include management's assessment of future plans and operations that are based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. The Company is not basing its production on a feasibility study of mineral reserves that has demonstrated economic and technical viability. Some of the forward-looking statements may be identified by words such as "estimates," "expects," "anticipates," "believes," "projects," "plans," "targets," and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause AIM's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements.
Contact: info@aimexploration.com
Twitter: www.twitter.com/aexeqb or @aexeqb
Website: www.aimexploration.com
AIM Exploration Inc.
J.R. (Bob) Todhunter