L & L Energy, Inc. (NasdaqGS: LLEN)
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RedChip Companies, Inc.
L&L Energy to Operate a New Coal Washing Facility
7/10/2012 1:10:00 PM
SEATTLE, July 10, 2012 /PRNewswire/ -- L&L Energy, Inc. ("L&L"), a U.S.-based company with a five-year track record of profitable coal operations in China, has reached an agreement with HunTai Coal Ltd. ("HunTai") in Yunnan Province to operate and manage HunTai's newly built 600,000-ton-capacity washing plant. L&L will receive a management fee for operating the plant and can earn revenues from wholesaling the washed coal.
L&L's TaiFung Coal Ltd. ("TaiFung") subsidiary and HunTai entered into the agreement on July 10. HunTai, currently in trial operation, will expand L&L's coal washing operation in the region, providing the Company with further recognition as an industry leader. The agreement is expected to generate approximately $63 million of additional wholesale revenue and $5.9 million in net income, based on coal pricing of $160 per ton. Additionally, L&L will earn a management fee of $0.5 million for the next 12 months of operation.
Forward Looking Statements
The statements contained words that are not historical fact, including statements related to Company's future performance, are all "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and that involve a number uncertainties. Actual results of the future events described in this document could differ materially. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
Disclosure: None of the profiles issued by RedChip Companies, Inc., constitutes a recommendation for any investor to purchase or sell any particular security or that any security is suitable for any investor. Any investor should determine whether a particular security is suitable based on the investor's objectives, other securities holdings, financial situation needs, and tax status. RedChip Companies, Inc., employees and affiliates may maintain positions and buy and sell the securities or options of the issuers mentioned herein. L & L Energy, Inc. (“LLEN”) is a client of RedChip Companies, Inc. and of RedChip Visibility, a division of RedChip Companies. On March 19, 2012, LLEN agreed to pay RedChip Companies Inc., 50,000 shares of common stock under Rule 144 and a monthly fee of $8,000 in cash for six (6) months of RedChip Visibility Program and investor relations services. RedChip Visibility Program services include the preparation of the equity research report(s). The equity research report(s) are prepared for informational purposes only and are paid for by the company portrayed in the report(s). Information contained in the equity research report(s) is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. The equity research report(s) are not a recommendation or a solicitation to purchase or sell any security, nor do they constitute investment advice. RedChip Companies, Inc., is currently engaged by this company to provide investor awareness services. Investor awareness services and programs are designed to help small-cap companies communicate their investment characteristics. These services may include investor conferences, digital and print distribution of LLEN investor-related materials, investor road shows and radio programming. Previously, on April 25, 2011, LLEN agreed to pay an affiliate of RedChip Companies, Inc., 12,500 shares of common stock under Rule 144 and a monthly fee of $6,500 in cash for twelve (12) months of investor relations services, with the option to terminate the agreement after six (6) months of service. On July 7, 2010, LLEN agreed to pay RedChip Companies, Inc., 15,000 shares of common stock under Rule 144 and a monthly fee of $8,000 in cash for twelve (12) months of RedChip Visibility Program and RedChip investor awareness services, with the option to terminate the agreement with RedChip after six (6) months of service. As of January 20, 2011, LLEN exercised its right to terminate its agreement with RedChip Companies, Inc., and RedChip Visibility. On July 7, 2009, L&L International Holdings, Inc. paid RedChip Visibility 35,000 shares of common stock under Rule 144 for the first six (6) months of investor awareness services and agreed to pay an additional 34,000 shares of common stock under Rule 144 for the second six (6) months of investor awareness services.