SOURCE: New Colombia Resources, Inc.

New Colombia Resources, Inc.

May 05, 2017 08:00 ET

New Colombia Resources Inc. Continues Moving Coal to Port and Increasing Sales with More Contracts Pending

Company secures new port facility in Cienega next to major export terminals in Santa Marta

BARRANQUILLA, COLOMBIA--(Marketwired - May 5, 2017) - New Colombia Resources, Inc. ("the Company") (OTC PINK: NEWC), a Colombian natural resource company listed in the U.S., with premium metallurgical coal and medical marijuana assets, continues to move to coal to Puerto Brisa in Dibulla, Colombia to fill a coal contract signed in late March. Shipments had been suspended due to backups at the port and its lack of priority for their customer; New Colombia personnel intervened on their customer's behalf and deliveries are now being accepted.

Each truck delivered to port carries on average 34 tonnes, New Colombia delivers the coal to the port and the Buyer wires payment once delivered. The company's goal is 10-20 trucks per day for this order. To view one of the company's delivered coal receipts from the port visit, https://drive.google.com/open?id=0BxSKP5j2FlseaFpuWHBuQk5zeWc

New Colombia has secured another facility next to a port formerly known as Puerto Vale, now owned by Murray Energy Corp., who acquired the assets of Colombian Natural Resources (CNR) from Goldman Sachs in 2015. The facility is in close proximity to Santa Marta's municipal port where they have a window to export coal. For pictures of the new port facility visit, https://drive.google.com/open?id=0BxSKP5j2FlseSFhlOFAzdUlWRGM

New Colombia will use the new port yard to move coal for several contracts they are negotiating and expect to close this month. They have sourced the coal from various mine owners and will be making announcements accordingly. The Company has also sourced the coal for an existing contract with ASI, with a first delivery of 60,000 tonnes, signed earlier this year that was contingent upon financing. The new contracts to be signed, totalling 100,000 tonnes, will be against a stand by Letter of Credit that can be negotiated and financed.

New Colombia has engaged new auditors that are reviewing their financial reports to file a Form 10K with the SEC. Their previous auditors didn't comply with the responsibilities of their engagement causing the Company to lose valuable time and money.

The increase in demand from Asia, and the decrease in supply from China, Australia, and N. Korea, have caused an incredible interest in Colombia's high quality, low cost metallurgical and thermal coal. The Company is getting requests for coal totaling millions of tonnes from China, Europe, India, and Malaysia, to name a few. To fill some of these orders, operating agreements with several mine owners have been signed, with others pending. New Colombia will operate these mines and deliver the coal to their customers at the port on the Atlantic Coast.

Their huge coal property in Guaudas is garnering particular interest from China for thermal coal and locally for metallurgical. They've teamed up with experienced coal operators in Colombia and will be teaming up with coal veterans from the U.S., with access to capital and equipment, that see the future in Colombia. This property also has raw building materials that will be extracted to supply the local road projects, particularly the Ruta del Sol that stretches within a few kilometers of their property and ends in Santa Marta at their coal yard. New Colombia will supply material to build the road, then use it to move coal to the port. The Ruta del Sol is fully functional north from Guaudas to Santa Marta, however south from Guaudas to Villeta there are 23 Km being constructed. The Company recently closed on a 300-acre land purchase that covers their mining title in Guaduas, tunnels and bridges are being built near this property making it more accessible to the Ruta del Sol, hence significantly increasing land value. Several negotiations in Guaduas for development of the coal property are pending.

"We will continue to move coal and book sales; the C.O.D. contract we have allows us to churn money and gain the experience to move bigger amounts with an efficient logistics program implemented and a secured port," stated John Campo, President of New Colombia Resources Inc. Any qualified institutional investor in the due diligence process may contact the company for verification of contracts, delivered sales, property titles, mining titles, etc.

About New Colombia Resources, Inc.
New Colombia Resources, Inc. owns vast reserves of premium metallurgical coal mining titles and a medical marijuana joint venture in the Republic of Colombia. They are setting up a rock mining operation to supply the major road and infrastructure projects within miles of their properties. They own 100% of La Tabaquera metallurgical coal mine in Colombia with an estimated 15- 17 million tonnes of reserves. They have an additional 1196 ha. metallurgical coal mining title that they are negotiating to develop with a foreign entity to build a coal fired power plant. New Colombia Resources holds a significant position in Sannabis SAS which legally produces medical marijuana products in the Republic of Colombia, visit www.sannabis.co. For more information on the Company visit www.newcolombiaresources.com

Forward Looking Statements
Forward Looking Statements; This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement containing works such as "anticipate," "seek," intend," "believe," "plan," "estimate," "expect," "project," "plan," or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements might not occur. Factors that could cause or contribute to such differences include financing, the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations. New Colombia Resources, Inc. does not undertake any duty nor does it intend to update the results of these forward-looking statements.

Contact Information

  • Company/Media Contact:

    New Colombia Resources, Inc.
    John Campo
    President/Chairman
    (1)-410-236-8200 USA
    (57) 318-657-0918 Colombia
    jcampo@newcolombiaresources.com