Kentucky Energy, Inc. (OTC: QMIN) Steady Production and Revenue in Sight
Kentucky Energy (OTC: QMIN) is a fully reporting Pink Sheet Company. This means transparency. You can tell where the Company stands in terms of revenue.
When you look at their purchase plan you can see steady revenue is important to this company. Kentucky Energy intends to sell all of its coal on the spot market to coal brokers. The Company enters into long-term contracts (exceeding one year in duration) with many of its customers. These arrangements allow customers to secure a supply for their future needs and provide Kentucky Energy with greater predictability of sales volume and sales prices. The production goal is 10,000 clean tons of coal per month.
Second Quarter 2010 – Year to Date Results Up 341%
With the year to date revenue of $1.46 million compared to $0.33 million in 2009, you can see Kentucky Energy has turned the corner and is moving closer to its production goal.
Coal revenues were $1,458,351 for the six months ended June 30, 2010, as compared to $330,314 for the six months ended June 30, 2009, an increase of approximately 341%. This increase in revenues was due to an increased level of mining operations in the first six months of 2010 versus 2009.
QMIN attributes this success to three sustainable factors:
- The ability to mine on a more consistent basis as compared to the prior period.
- Upgraded equipment which allowed the Company to be in production more consistently.
- Advancement was made further into the mine, the coal seam thickened, which resulted in improved rates of recovery and a higher percentage of coal per gross ton extracted.
This Company has turned the corner in production and revenue. As a fully reporting company these facts can be confirmed in their most recent 10Q.
Kentucky Energy Inc.
18B East 5th Street
Paterson, NJ 07524
Phone: 973-684-0075
Safe Harbor Statement: This profile release contains forward-looking statements that involve risks and uncertainties. The statements of this Summary Overview are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results, events and performances could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause the Company’s actual results, expressed or implied, to differ materially from expected results. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making an investment decision including the fact that QMIN is in Bankruptcy Reorganization.
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