KAL Energy, Inc. Receives Strong Upgrade by Respected Research Firm
Wednesday March 28, 8:15 am ET
Management Reports Geological Estimates of 192 Million Tons of Coal
KAL Energy, Inc. is pleased to announce a well-respected firm, TRI-STATE Capital (TSC), has upgraded their equity rating on KALG. This strong upgrade comes at a time when the company has received five operational drill rigs and has conducted over 1000m of exploratory drilling thus far. KAL Energy has rapidly increased its on-site workforce to 128 people, including 8 geologists. The increased workforce and rigs will be used to explore their concessions for additional coal seams as well as to excavate the estimated 192 million tons of coal situated near the Mahakam River in North Eastern Kalimantan, Indonesia. The strong upgrade is also due to the company anticipating drill results from the Thermal Coal Project in the coming weeks.
TSC is noted for their work with account executives, analysts, portfolio managers, institutions, venture capital investors, individual investors and the media. To view the entire independent research report, please click on the attached URL: http://www.otclive.com
Cameron Reynolds, CEO of KAL Energy, Inc states, "We are honored to have a quality independent research firm review our overall operations, progress and to provide the resulting upgrade in our stock. This offers further confirmation to our shareholders that our company is headed in the right direction." Mr. Reynolds further stated, "We look forward to shipping coal to customers later this year and anticipate strong growth."
Forward-Looking Statements:
This press release contains forward-looking statements. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. There are a number of factors that could cause actual results and developments to differ materially.