From the Wires
Emerging Coal Mining Company Name and Symbol Change Becomes Official
Note to Editors: The Following Is a Research Report Press Release Being Issued by FN Media Group, LLC
By: Marketwired .
Jan. 24, 2013 09:25 AM
CORAL SPRINGS, FL -- (Marketwire) -- 01/24/13 -- FN Media Group, LLC and its online brand, FinancialNewsMedia.com, is a leading provider of Financial Public Relations and Corporate News Dissemination Services for underserved companies in the microcap and small cap markets. FinancialNewsMedia.com continues coverage for VSUS Technologies, Inc. (OTCQB: VSUT) now known as New Colombia Resources, Inc. (OTCQB: NEWC).
The official name change for VSUS Technologies, Inc. has taken place along with its trading symbol. The company name is now New Colombia Resources, Inc. trading under the ticker symbol -- (OTCQB: NEWC). For details see: http://www.otcmarkets.com/stock/NEWC/company-info.
"Since we are now in a position to reach production as soon as possible, I felt a name change was necessary. Colombia is an emerging country with many available resources that we have the ability to acquire. Being from Colombia gives us certain advantages. These next few weeks should be very exciting for our growing company and its shareholders," stated John Campo, President of New Colombia Resources, Inc.
New Colombia Resources, Inc. is focused on the acquisition and development of high-quality metallurgical coal properties in the Republic of Colombia. They own 100% of La Tabaquera mine in Colombia with an estimated 15-17 MM tonnes of reserves, 70% metallurgical and 30% thermal coal. Once the necessary financing is obtained, the Company plans to have three revenue producing business units in Colombia: coal mining, coking oven facilities, docks, river, and rail transportation to export terminals in Colombia. The Company is also exploring allegiances with U.S. universities to study capturing Coal Bed Methane (CBM) in Colombia.
Coal Production Outlook:
Despite the fact that 2012 resulted in a challenging year for the coal industry, some industry analysts believe 2013 is in a much better position to be a more productive year. Analysts believe the rising natural gas prices, expected increase in Chinese coal demand and better coal inventory management could be sufficient reasons for a better 2013.
U.S. electricity generators consume a significant amount of coal, hence as natural gas prices will rise, coal consumption by the U.S. power generator will also go up giving support to coal prices. According to EIA projections, natural gas prices will rebound in 2013, which could lead to coal consumption for electricity generation will increase. Also, the U.S. coal supply is improving as it was down 6.3% in 2012 and expected to drop further by 3.6% in 2013, which will reduce the U.S. coal stock and support coal prices. Moreover, coal prices will recover as demand for coal increases in global markets. China, which is among the leading coal consumers in the world, is expected to increase coal demand in 2013, according to RBC Capital.
Globally, many analysts predict coal will actually overtake oil to become the world's single-largest power source over the next five years, thanks to strong growth in demand from world markets including China and India. The critical point for individual investors is to find the stable and secure players in the coal sector -- companies like New Colombia Resources, Inc. (OTCQB: NEWC).
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To comply with Section 17(b) of the Securities Act of 1933, FNMG shall always disclose any compensation it has received, or expects to receive in the future, for the dissemination of the information found herein on behalf of one or more of the companies mentioned in this release. For disseminating this release, FNMG was not compensated for this release but expects future compensation for future news coverage of New Colombia Resources, Inc. (OTCQB: NEWC) at which time FNMG will make full disclosure of any received compensation. FNMG HOLDS NO SHARES OF New Colombia Resources, Inc. (OTCQB: NEWC).
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