NEW YORK, April 16, 2014 /PRNewswire/ -- S&P Capital IQ announced today that it has commenced Standard & Poor's Factual Stock Report coverage on White Energy.
White Energy (OTC: WECFY) is the exclusive worldwide licensee of a patented technology which upgrades high moisture, low value sub-bituminous and lignite coals through a low cost process of dehydration and compaction. This technology is known as the Binderless Coal Briquetting (BCB) technology and was developed by a consortia led by the Commonwealth Scientific Research Organization (CSIRO).
White Energy has more recently applied the BCB technology to the beneficiation of thermal and metallurgical coal fines. Coal fines represent a major environmental liability for coal producers and also carry a significant ongoing maintenance cost. By leveraging its patented and scalable technologies to beneficiate coal fines, White Energy aims to produce a high-valued salable product that can enhance a mine's revenues.
White Energy continues to focus on its core BCB coal technology business, which is based on the upgrading of low rank, low cost sub-bituminous coals to export grade higher value coal.White Energy is also focused on identifying good quality coal properties for acquisition, where the BCB technology can be utilized to add value to projects. The company operates in four segments: coal technology, mining exploration, property and coal mining. The coal technology segment holds the exclusive license to the patented BCB technology. The mining exploration segment holds tenements in Lake Phillipson, South Australia and Gasgoyne, Western Australia. The property segment reflects the agricultural activities of Ingomar Station which was purchased in April 2011 and operates as a working cattle and sheep property. The coal mining segment reflects the activities of Mountainside Coal Company Inc.(MCC), a coal mining company acquired by White Energy on October 4, 2013. MCC operates several coal mines in Kentucky, which collectively produced approximately 375,000 tons of coal in the 2013 calendar year. MCC is focused on completing an exploration program to maximize current resources and reserves, as well as potential new resources, at the various mine concessions held by the company. Most of the focus is on the low ash, high quality Blue Gem coal seams located across certain mine concessions held by MCC. According to White Energy,the Blue Gem coal is the most suitable for use with the BCB technology, for the processing of coal fines product to be sold in the specialized coal markets. It is anticipated that a new mine called Flat Creek will be opened during the second half of 2014, which will focus on the mining of the Blue Gem coal seams which attract premium pricing in the U.S. domestic markets.