Modern is primarily an oil and gas firm that will be expanding with GLER into the purchase of coal property in Kentucky, US, to fulfill GLER’s existing sales opportunities and a new contract brought by Modern to GLER with Advent Enterprises.
According to GLER, an affidavit from Advent of the sale to a US based buyer will be signed shortly.
The signed firm corporate offer by Advent is for 100,000 tons per shipload with a three month ramp up period to achieve this goal.
For each 12-month period, the Modern and Global Earth Energy project will be able to deliver a total of 800,000 tons of steam quality coal.
The coal will be delivered in volumes acceptable to Advent, but is projected to be approximately 100,000 tons per shipload.
Additionally, for each 12-month period, Modern and GLER anticipate that they will deliver a total of 300,000 tons of metallurgic quality coal.
