Costa Mesa, CA, Jan. 30, 2018 (GLOBE NEWSWIRE) -- M Line Holdings, Inc. (OTC Pink: MLHC; "M Line" or the “Company”), announces that its new subsidiary, M Line Coal Development, Inc., has agreed terms to acquire its first coal mining permit. Definitive contracts are expected to be signed very shortly with production due to start in March 2018.
This project, based on the geological reports, will produce in excess of 300,000 tons of coal with profit of approximately $5.00 per ton and anticipated revenues over a 3 to 5 year period of $15 million depending on monthly production levels.
Tony Anish, CEO of M Line stated: “We are excited to agree terms on the first coal mining permit. We are looking at several coalmining permits and expect to agree terms on others in the near future. The current market for coal is excellent as demand exceeds supply. We are also working on contracts for our transportation company and will keep you informed as to our progress. Keep watching, there will be more news to come.”
The Company has identified this opportunity as the Coal that will be produced is intended for specific industrial uses overseas. Thermal Coal specifically has recently risen 10 percent on the back of a months long rally. The supply levels are as small as 2-3 days demand in some Asian markets.
About M Line Holdings, Inc.
M Line has historically been a holding Company with subsidiaries primarily involved in the aerospace industry and business financing. In the future, the Company will continue with its business financing activities, continue to contemplate aerospace opportunities as well as introduce new businesses to the group.
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Contact M Line Holdings, Inc. Tony Anish firstname.lastname@example.org
Source:M Line Holdings, Inc.