Vancouver, Canada, July 02, 2010 --(PR.com
)-- Private Placement
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement of 4,000,000 shares at $.14 per share. As well 2,000,000 warrants were approved at $.185 were announced April 8, 2010.
Initial funding will allow the directors of Lucky Strike Resources to purchase 60% interest in the Changyung Coal project in Southern China.
Changyung is scheduled to produce at least 150,000 tons of anthracite coal for the production of electricity use in steel production in China. Directors expect the project will yield a minimum of 300,000 tons annually once production is fully capacitated.
Good quality coal is in high demand both in China and India. Buyers are currently purchasing coal from around the globe to satisfy the needs fo the market. Since this project is based in Southern China, its profitability will be much greater since it is located very close to its customer based thereby reducing costs and maximizing profit potential.