Published On: Mon, Oct 3rd, 2016

Aim Exploration Inc (OTCMKTS:AEXE) Looks Towards Anthracite As Key To Success

Aim Exploration Inc (OTCMKTS:AEXE) has issued a press release indicating that anthracite has become a star performing commodity of the year, for the company. AEXE noted that market prices of the commodity are continuing to surge upwards, currently trading at around $163/t. This indicates a surge of 108%, during the current year alone. Aim Exploration cited that it currently has concessions in Peru, which are increasingly becoming more attractive. It should be noted here that infrastructure is already in place at the concessions.

The CEO of AEXE, J.R. Todhunter, claimed that his company was well positioned to monetize on the strong value, which would be very profitable. He also revealed that they were expecting formal Purchase Orders, from Prina Energy in India, as a result of its marketing joint venture, in Dubai. As such, the company has claimed the Peruvian concessions would be its flagship project, since the infrastructure in the region can ensure smooth hauling of coal.

The press release was also accompanied by a Form 8-K filing, which revealed that Aim Exploration plans to increase its number of authorized shares. The company has already made the filing with the SEC and requested that the number of authorized shares be increased from 250 million to 1.5 billion. The share value would, however, remain unchanged. AEXE stated that the move had already been voted upon and approved by its board of directors and shareholders, in a meeting held of September 9, 2016. The move would allow the company to secure funding, as it works towards expanding its anthracite operations.

Even though both announcements had been encouraging and are aimed towards improving shareholder value, it has drawn mixed reviews from investors. This is evident in the fact that the stock continued to fluctuate in the market, during the previous week. However, it is anticipated that the stock would soon gain ground, once official purchase orders have been received and publicized.

Aim Exploration Inc (OTCMKTS:AEXE) lost 40% of its share value, during the September 30 trading session, to close at $0.003 per share.

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