New Colombia Resources Inc. Provides Update to Shareholders


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OTC:BB:NEWC
08/19/2014 [ACCESSWIRE]

The Company is Featured in the Current Issue of a Leading Print Financial Publication

BOGOTÁ, Colombia / ACCESSWIRE / August 19, 2014 / New Colombia Resources, Inc. (OTCQB: NEWC) (“New Colombia or the Company”), a U.S. company with coal and other resource assets in Colombia, is pleased to update shareholders on the progress of their mining operations.   As previously announced, New Colombia will develop a 1000 m3 per day rock quarry on their property while they bring coal operations online. The company originally expected to start quarry operations earlier this year, due to issues with a land purchase agreement, and a pending site visit, the initiation has been delayed for a few weeks. 

The company received notice from the local environmental authority of a site visit for September 13, 2014. New Colombia Resources believes it is in their best interest to begin gravel operations after this inspection. They expect this visit to be the final step in the approval of their coal mining permit.   The company’s Work Plan (PTO) was approved on December 23, 2013. Their environmental impact plan has been under review for several months; the company believes their coal mining permit will be issued soon after the visit.

New Colombia’s subsidiary, Compañía Minera San Jose Ltda., has fully paid and executed a land purchase agreement that transferred title on August 15, 2014. The company’s President made a capital injection of $ 50,000 into New Colombia Resources on July 25, 2014 to facilitate this transaction. Mr. Campo will enter into a royalty agreement with the Company which will be disclosed once finalized.

In addition to the purchased greenfield, New Colombia is leasing property along national highway I-50 leading to Bogota to use as a rock depot. The processed aggregates will be trucked down from their mine using existing haul roads to the highway. From there the material will be trucked in bigger dumpers to end users. The municipality of Guaduas is finishing construction of a haul road that leads down to Colombia’s largest new highway, Ruta del Sol, from their mine in 6 Km. In addition to Highway I-50, New Colombia will lease or purchase a rock yard along the new Road to the Sun.

New Colombia Resources purchased a rock crushing plant capable of producing over 100 m3 per hour.  Although they received a letter of intent to purchase over 600 m3 per day in Bogota, they will pursue the closest buyer to optimize profit margins by reducing transportation costs. The company will be finalizing purchase agreements for their building materials as they get closer to production. They are materializing an operator’s agreement with a third party operator of excavation equipment and dump trucks.

New Colombia Resources is featured in a print article in the current edition of Dinero Magazine, Colombia’s leading financial news publication. The article focused on New Colombia’s initiative to develop the first legal cannabis based pharmaceutical product in Colombia while initiating their coal operations. To view the article visit http://www.dinero.com/edicion-impresa/negocios/articulo/medicamentos-legales-derivados-del-cannabis-marihuana/199474

New Colombia Resources, Inc.

New Colombia Resources, Inc. is focused on the acquisition and development of high-quality metallurgical coal properties and other available resources in the Republic of Colombia. They expect to have several revenue producing businesses including; metallurgical coal mining, African palm distribution, and traditional and organic coffees. They own 100% of La Tabaquera metallurgical coal mine in Colombia with an estimated 15- 17 MM tonnes of reserves.  They have another pending acquisition for 390 ha and a solicitation contract for 184 ha metallurgical coal concession.  In April 2014, they announced their intentions to enter the legal medical cannabis industry in Colombia. Once the necessary financing is obtained, the Company plans to have additional revenue producing business units in Colombia: coal mining, coking oven facilities, docks, river, and rail transportation to export terminals in Colombia. For more information on the Company visit www.newcolombiaresources.com.  

Transportation, Logistics and Other Information

New Colombia Resources intends to sell their coal at the mine’s gate unless they enter into off-take agreements. Upon proper financing, the Company plans to build or acquire river or rail loading facilities on the Magdalena River close to their mines. The coal will be trucked to these distribution centers, and then barged via the Magdalena River or by rail to terminals in Barranquilla, Santa Marta, or Cartagena for export. Initially they will use existing logistics providers while their transportation projects are being developed. After the rail projects and the "Road to the Sun" project are completed, New Colombia Resources will have one of a few metallurgical coal mines in the World with river, rail, and road access to coal export terminals on both the Atlantic and Pacific Oceans.

Forward Looking Statements

Forward Looking Statements; This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement containing works such as "anticipate," "seek," intend," "believe," "plan," "estimate," "expect," "project," "plan," or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include financing, the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations. New Colombia Resources, Inc. does not undertake any duty nor does it intend to update the results of these forward-looking statements.

Company Contact:

New Colombia Resources, Inc.

John Campo

President/Chairman

(1)-410-236-8200 USA

jcampo@newcolombiaresources.com  

 

New Colombia Resources, Inc., mining subsidiary

Cia. Minera San José Ltda.

Kra. 3 # 2-52

Guaduas, Cundinamarca

Colombia

(57) (1)  846-6579

www.newcolombiaresources.com

 

SOURCE: New Colombia Resources, Inc.

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