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Gulfside Minerals poised to announce sites for coal mining |
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Monday, 17 March 2008 |
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Gulfside Minerals Ltd. (TSX-V:
GMG) announced last week the acquisition of mining rights for Mongolian.
However, the company has not yet released the locations of their Mongolian
sites.
Reports on exploration and
development of the sites have been submitted to Mongolian authorities,
according to Gulfside Minerals officials.
Based upon these reports, Robert
L. Card, President of Gulfside Minerals Ltd. announced agreements have
been signed to move towards mining for coal.
Gulfside Minerals Ltd. previously
had acquired an option to purchase three parcels located in SW Mongolia
at Gobi Altai, in north central Mongolia at Erdenet, Mongolia's third
largest city and in NE Mongolia at Khentii.
According to the company’s
website, Gulfside Minerals will continue to focus on coal mining because,
“Coal is in great demand from China and other areas of Asia for power
generation as well as steel making. Mongolian coal deposits are known
for their thick coal seams which make mining lower cost than other areas.’
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