Aim Exploration Inc (OTCMKTS:AEXE) shares were up 56.67% to $0.00470 on Monday and flat in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $75.00. The company has 16.40 million shares outstanding.
Aim Exploration Inc shared strong positive results proving high grade anthracite extracted from the existing tunnels within the 1000 hectare Peru mining concessions in its latest anthracite analysis. The company had samples of coal extracted from their mining concessions delivered to the world renowned SGS labs mineral services for evaluation and confirmation of the quality of the coal. It consists of a fully comprehensive report where the technicians test the coal finding the chemical composition to a 0.001% degree of accuracy.
On its daily time frame it can be seen that AIM Exploration Inc shares have tumbled significantly since the start of the year. However, volume has picked up in the past couple of months so it might be worth looking at short-term market activity.
Zooming in shows that price is treading sideways, finding support at the $0.005 area and possibly on its way to test resistance at $0.009 if updates stay positive. Volume is relatively subdued compared to the latter part of September but a break in either direction could draw more investor interest.
Back in September, an independent authority mentioned that metallurgical coal has been the star-performing commodity of the year so far. With the infrastructure is in place, AIM Exploration Inc could be well-positioned to keep taking advantage of this market trend in the near-term.
“AIM is well positioned to capitalize on this strong value and this should prove to be a very profitable,” remarked Bob Todhunter, President and CEO of AIM exploration Inc. “AIM is close now to completing the marketing joint venture in Dubai with Prina Energy of India and it is anticipated formal Purchase Orders will be forthcoming.”
He added that this coal project is the flagship project that has infrastructure such as roads, bridges, equipment, and payload Gross weight allowable transport such as loader trucks with transport capability to support 25-tons. He invited people to check out their updates in their website and welcomed more than 1,500 followers and counting to their Twitter feed.
“This gives us indication that clean energy is a global concern and enforces our belief that is why we need to carry out our objective of mining clean high BTU anthracite coal,” todhunter concluded
Much earlier in the year, Aim Exploration Inc announced that it has entered into a preliminary agreement to acquire a privately owned company that owns Silica concessions in Utah. This means that the company acquired all the shareholdings of Crystal Sands, which currently holds mining concession rights including miningpermits for properties located in Utah consisting in excess of 600 acres which is rich in Silica.
Aim Exploration Inc is a mining company focusing towards Anthracite production in Peru and worldwide marketing through a joint venture corporation with Prina Energy of India. It has a team of technical experts on ground in Peru, and has also recruited advisors and directors who bring complementary skills to the venture. In terms of infrastructure, power lines run through its property while a river runs adjacent to the site and the road network from the site to Otuzco can support 25-ton trucks.