HENDERSON, Nev., June 21, 2016 (GLOBE NEWSWIRE) -- AIM Exploration Inc. (OTCQB:AEXE) is pleased to announce the appointment of Mr. Bill Mullins to its already strong advisory board. Bill has been involved with the Peruvian mining project for over 10 years. He and AIM President, Bob Todhunter, have both been involved with Percana Mining Corp., the former owners of the mining concessions in Peru.
Bill Mullins is a well-seasoned successful professional who is the President of a large commercial construction firm in Canada. Mr. Mullins has been involved with the Peru project for over ten years and it is intended that Mr. Mullins will oversee the mining operations in Peru. Mr. Mullins and his team of carefully selected individuals know and understand Peruvian culture and business and are well-connected professionals. The team will be responsible for carrying out all the logistics in Peru, working closely with Todhunter. AIM understands the importance of handling all the logistics in Peru and that marketing the anthracite coal is key to the success of the company.
Since AIM received the LOI from Prina Energy in India, Mr. Todhunter has maintained very close contact with the principals of Prina. It has become apparent that a strong marketing arm would be very beneficial to the company as India is well positioned to be the second largest steel producing country in the world. AIM will continue to work very closely with the principals of Prina and will be jointly working in India and worldwide in their joint efforts to ensure AIM is well-positioned to meet the ever increasing demands of high quality anthracite.
Anthracite is the highest-ranking coal. This is because it is harder, older and contains more carbon. It has lower moisture content, burns very hot and is the cleanest, most economical fossil fuel on the planet. Anthracite coal is a highly desired resource with a variety of applications. It is used primarily in the manufacturing of steel, cement production and electricity generation. 70% of steel production relies on coal (ref. World Coal Association, 2013), 200 kilos of coal are required to produce 1 ton of cement and 41% of global electricity relies on coal. Anthracite coal is in such high demand internationally that China stopped exporting its output since 2003.
While prices are yet to be specified in the LOI, the anticipated purchase price is expected to be in the neighborhood of USD $100 MT FOB Port of Salaverry with the projected cost of approx. USD $65 MT. If this pricing and cost holds true, AIM is well positioned to generate a healthy profit margin based on an LOI of 500,000 MT per year for a 5 year period. Bob Todhunter is very excited to market this valuable and highly sought after mineral on a worldwide scale.
Bob Todhunter stated, "Aim Exploration strongly believes that adding a marketing component for Anthracite Coal will add tremendous upside potential to the company because Anthracite is a valuable and highly sought after mineral on a worldwide scale, and coupled with a strong logistics and operational arm in Peru AIM is well-positioned to move forward."
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 and are based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. 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: AIM Exploration Inc. J.R. (Bob) Todhunter
Source:AIM Exploration Inc