Business & Finance
Business and Finance
Business and Finance
Thu, May 26, 2011 
CALGARY, May 26, 2011 /CNW/ - EmberClear (TSXV: EMB) is pleased to announce the drilling program at the Tracy Slope Mine starts today. The findings from the diamond-drilling program of approximately 14 drill holes will be used to meet potential customer inquiries and will be included in an updated independent National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") compliant technical report ("Technical Report"). The previous Technical Report on the Tracy Slope Mine was prepared under the supervision of James S. Canterbury of Summit Engineering Inc. ("Summit") and is entitled "An Independent National Instrument 43-101 Report Summarizing Mineral Resources of EmberClear Reserves Inc., Porter and Frailey Townships Schuylkill County, Pennsylvania" issued on April 16, 2011.
"I am pleased we are on track with our drilling program at the Tracy Slope Mine. The results will enable us to provide the high level of details requested by interested parties in the metallurgical industry and will also serve to quantify the current resources that meet the reserve category qualification. We will also be able to assign tonnage to known seams originally estimated at zero as a result of past time and data constraints. Finally, we will incorporate the findings into our new mine plan," said Albert Lin, CEO of EmberClear.
EmberClear expects cash balances to be higher than planned as estimated costs for legal and accounting related to recently acquired properties were lower than expected. In addition, in the last quarter EmberClear recognized proceeds from the sale of the camera assets and, in the current quarter received the repayment of the T3 Motion Promissory Note.
About EmberClear
EmberClear is an advanced energy development company. Based on global energy needs from a growing population, our solutions are designed to deploy commercial scale energy technologies, which enable dramatic improvements in the efficiency and cleanliness of fossil fuels and alternative energy sources. Our goal is to find economically viable business models with the potential to deliver reduced emissions of over 50% when compared to industry average results in the utilization of coal while also deploying state of the art carbon dioxide capture solutions.
Our expertise is being utilized by a diverse group of governments, utilities, miners, and industrial companies spanning a wide range of geographies with the common interest in creating gasification, supercritical (SC), ultra-supercritical (USC), circulating fluidized bed (CFB) and post-combustion carbon dioxide capture (PCC) energy solutions producing electricity, synthetic gas, liquid fuels, fertilizers, and industrial construction products. Our solutions often include the vast thermal chemistry sciences and processes developed by the world's largest power company, Huaneng Clean Energy Research Institute (Huaneng CERI). As the leading firm in experience and resources devoted to this industry, our partnership ensures proven energy solutions are also financially sustainable so that the benefits accrue to the global marketplace and not just a few special projects.
For more information please visit [ www.emberclear.com ].
Safe Harbour for Forward-Looking Statements
Certain statements contained in this document constitute forward-looking statements or information (collectively "forward-looking statements") within the meaning of the "safe harbour" provisions of applicable securities legislation. Forward-looking statements are typically identified by words such as "anticipate," "continue," "estimate," "expect," "forecast," "may," "will," "project," "could," "plan," "intend," "should," "believe," "outlook," "potential," "target," "seek," "budget," "predict," "might" and similar words suggesting future events or future performance. All statements other than statements of historical fact may be forward-looking statements. In particular, this document contains forward-looking statements pertaining to the estimates of coal resources, the quality of those coal resources, and the Company's plan to conduct a detailed drilling and characterization engineering study for the purpose of re-classifying the resources identified in the Technical Report into reserves and to develop a mining plan. With respect to forward-looking statements contained in this document, we have made assumptions regarding the worldwide demand for coal, demand and political support for clean energy technologies and the existence of coal resources or reserves on the Property. Although we believe that the expectations reflected in the forward-looking statements contained in this document, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause our actual performance and financial results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. Important factors that could cause these differences include but are not limited to: the Company may be adversely affected by other economic, business and/or competitive factors; the worldwide demand for coal; the price of coal; the price of alternative fuel sources; the supply of coal and other competitive factors; the costs to mine and transport coal; the ability to obtain new mining permits; the risks of expanding coal production; the Company's ability to continue to execute its growth strategies; and general economic conditions. The forward-looking statements contained in this document speak only as of the date of this document. Except as expressly required by applicable securities laws, we do not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
