Aggressive investors should monitor KAL Energy, Inc. (OTCBB: KALG). It was recently announced that the company has completed the drilling of its previously announced $2 million Phase 1 Exploration program on its Thermal Coal Project in East Kalimantan, Indonesia. This program included over 5600 meters of extensive drilling, including over 230 holes, as well as trenching, sampling and mapping of known geological structures, and exploration for unknown structures.
"The completion of the field work of Phase 1 Exploration Program represents a major achievement for KAL. We flagged this milestone to the market at start of the year -- and we have delivered on time," stated Cameron Reynolds, KAL Energy's CEO. "The team will now focus on processing and presenting the findings of the program in a JORC Compliant Resource Statement, which we expect to deliver mid June, as previously committed," Mr. Reynolds added.
The program on KAL Energy's concession in Indonesia was being conducted to determine the amount and quality of coal available, and present this in a JORC Code Compliant Resource Report. Previously disclosed Geological estimates have indicated that in excess of 192 million tons of coal with low sulfur and ash content are located at shallow depths on the concessions.
Wall Street News Alert is continuing to place Aggressive Investors on alert to monitor the progress of KAL Energy! KAL Energy, Inc. has 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. With one of the world's largest thermal coal exporters, Kaltim Prima Coal (KPC) as its neighbor, KAL energy's concessions are in a region that is known for its extensive open pit thermal coal producing mines. Indonesia has recently surpassed Australia as the world's leading thermal coal exporter, with prices varying from $30.00 to $60.00 plus per ton.
Most recently, the company has announced several analysts' reports with prices targets of $2.55 to $4.00 for the company's shares.
KALG closed Monday at $1.38 a share.
For Wall Street News Alert's updated and in-depth profile of KAL Energy, visit http://www.WallStreetNewsAlert.com/HotStocks/KALG061107/default.aspx
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