Business
Alter NRG announces the sale of the Fox Creek Coal property for US$5 million
TSX: 'NRG' OTCQX: 'ANRGF' CALGARY, Aug. 31, 2011 /CNW/ - Alter NRG Corp. (" Alter NRG ")...
About this update from Pinnacle Silver And Gold Corp
[{"type":"text","content":"\n\n\n\n\n\nTSX: 'NRG'\nOTCQX: 'ANRGF'\n\n\nCALGARY, Aug. 31, 2011 /CNW/ - Alter NRG Corp. (\"Alter NRG\") is pleased to announce it has entered into a definitive agreement to\n sell its Fox Creek Coal leases for US$5 million.  The closing is\n expected to occur in the third quarter of 2011.\n\n\nThe Fox Creek Coal resource was originally purchased in 2006 for\n approximately $1.0 million to advance a coal to liquids gasification\n project. The Company's book value of the Fox Creek Coal resource is\n approximately $3.4 million.\n\n\nMark Montemurro, CEO of Alter NRG states \"that I am pleased that the\n strategic process has resulted in a disposition of this non-core\n asset.  The cash strengthens our cash position to approximately $7\n million and allows us to focus more clearly on the core plasma\n gasification business and its near-term milestones.\"\n\n\nABOUT ALTER NRG\n\n\nAlter NRG is pursuing alternative energy solutions to meet the growing\n demand for environmentally responsible energy in world markets. Alter\n NRG's vision is to commercialize growth technologies through\n environmentally sustainable and economically viable alternative energy\n projects. Alter NRG's primary objective is to further commercialize the\n Westinghouse Plasma Gasification Technology, through its wholly owned\n subsidiary, to provide renewable and clean energy solutions from a wide\n variety of feedstocks, and provide a wide variety of energy outputs -\n including liquid fuels like ethanol and diesel, electrical power, and\n syngas.\n\n\nThe Toronto Stock Exchange does not accept responsibility for the\n adequacy or accuracy of this release.\n\n\nAdvisory Respecting Forward-Looking Statements:\n\n\nThis news release contains certain \"forward-looking information and\n statements\" within the meaning of applicable securities laws.  The use\n of any of the words \"expect\", \"anticipate\", \"continue\", \"estimate\",\n \"objective\", \"ongoing\", \"may\", \"will\", \"project\", \"should\", \"believe\",\n \"plans\", \"intends\", \"confident\", \"might\" and similar expressions are\n intended to identify forward-looking information or statements.  In\n particular, this new release contains forward looking statements\n pertaining to; timing of sales; industry trends;; the Corporation's\n reputation and market position within th...