ROYAL STANDARD MINERALS INC. (TSX VENTURE:RSM)(OTCBB:RYSMF), "RSM", RSM has
advanced its surface mine coal project in Wolfe County, Kentucky.  The
permitting and bonding for the initial phases of the strip mine are in place and
is expected to be approved by the Kentucky Department of Natural Resources this
week.  All of the necessary surface equipment to commence mining is in place,
according to Qualified Person the writer and reviewer of this press release,
Roland M. Larsen.


The expectation is that the initial construction of the surface mine can be
started as early as next week.  This work will include the construction of
access roads into the property, the construction of water containment ponds and
clearing of timber on the permitted minesite.  The property includes more than
1,000 acres with opportunities to expand the property position.  The project is
sufficiently funded to bring the project into production with an estimated
startup, excluding permitting and bonding costs, to production cost of
approximately $500,000.00


The first coal shipment from this property is expected to be within the next 30
days.  Based upon drilling and outcrop trench sampling data and chemical
analysis indicates that the coal quality is power generation for the industrial
market, characterized as 12,000 btu, 1-2% sulfur, less than 10% ash, bituminous
coal that will be sold on a spot market basis. The production rate is expected
to commence initially in the 10,000 ton per month range increasing to 20,000
tons per month when the mine is developed.


Coal prices based upon NYMEX-Big Sandy River and local brokers, who are
purchasing coal from the producers in this area indicate that they are paying
more than the posted prices to purchase the production from the producers, a
tight production market, indicate that prices for this coal ranges from $75 -
$100 per ton with operating cost including transportation to the river for barge
transport in the $45-$50 range yielding an estimated operating margin of between
$25-$50 per ton.  The company will try to establish a market with the local
power utility after the mine has established a regular monthly production rate.


RSM is an exploration and development company with interests in coal and
precious metals in the United States.


The information presented in this press release is subject to the various
regulatory approvals.  The economic viability of this project is uncertain and
is contingent upon coal pricing and mining conditions that could affect the
project economics.


The TSX Venture Exchange does not accept responsibility for adequacy or accuracy
of this release as per Exchange Policy 3.3 section 6.5.


Royal Standard Minerals cautions that the statements made in this press release
and other forward looking statements made on behalf of the Company may be
affected by such other factors including, but not limited to, volatility of
mineral prices, product demand, market competition, imprecision of mineral
estimates, and other risks detailed herein and from time to time in the
Securities and Exchange Commission filings of the Company.


C.U.S.I.P. # 780919106

Grafico Azioni Resouro Strategic Metals (TSXV:RSM)
Storico
Da Mag 2024 a Giu 2024 Clicca qui per i Grafici di Resouro Strategic Metals
Grafico Azioni Resouro Strategic Metals (TSXV:RSM)
Storico
Da Giu 2023 a Giu 2024 Clicca qui per i Grafici di Resouro Strategic Metals