American Power Corp. (AMPW) is a dynamic energy company based in Denver, Colorado. The Company was established with the focus of acquiring near-term, large-scale advanced coal projects in close proximity to national transportation links. American Power envisions developing its large coal resources to support electricity generation.
American Power is a member of the Montana Mining Association, and holds approximately 29,000 acres in Judith Basin County, Montana. The estimated resources in place, based on exploration work conducted by Mobil Oil Co. (now ExxonMobil Corp.), and in several independent studies, range from 172 million up to 410+ million tons of high volatile bituminous B coal.
AMPW Investor Highlights
American Power's planned drilling program of the Pace Coal Project consists of 61 drilling locations and would involve a total of 52,740 feet of drilling.
The program's aim is to place a significant portion of the coal holdings of the Pace Coal Project in the proven and probable reserve classification, with an ultimate goal of establishing sufficient resources to support a greater than 20 year operational mine life.
Financing in place, in September 2010, American Power closed a financing agreement for total gross proceeds of $10 million through a 2.5-year stock issuance agreement with a European institutional investor to be used for ongoing exploration, development and acquisition strategies as well as working capital.
In April 2010, American Power Corp. acquired roughly 29,000 acres, which make up the Pace Coal Project. In 1979 Mobil Oil Co. (now ExxonMobil) drilled 30 holes over 14,000 of the project's acreage, and delivered 45 samples which were later sent to an independent laboratory for analysis. It was subsequently determined that both the quality and the quantity of coal on the Pace acreage was high and significant, respectively. Several independent reports were commissioned based on the development work undertaken by Mobil Oil, determining there could be in excess of 410 million tons of high volatility bituminous coal potential on the Pace acreage.
Substantial infrastructure is already in place adjacent to and within the acreage, including a federal highway, a BNSF railway line, pipeline, and power lines, all of which would facilitate the economic extraction and transportation of coal to market.
American Power Corp. has access to a large and experienced workforce in Great Falls, Montana, and the coal project may provide hundreds, if not thousands, of new, high-paying jobs for the local economy.
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