Novadx Ventures Corp.: MCoal Provides Update on Ikerd Asset Acquisition

Novadx Ventures Corp (TSXV:NDX) reports an update by MCoal Corporation on the Ikerd asset acquisition.

The press release is quoted as saying:

The Ikerd assets consist of four permitted surface coal mines and related mining equipment, a stoker plant and rail load out facilities on Norfolk Southern Rail, all located in eastern Kentucky. Of these permitted mines, only the Flatwood’s Mine has been operating. Production at the Flatwoods Mine commenced in early 2009 producing a high quality thermal coal at an average rate of 25,000 tons per month. In early May, 2011, production at the Flatwoods Mine was idled awaiting the issuance of a KPDES permit in connection with a new area of the mine being developed. On May 28^th, 2011, the Company announced that it had assumed management control of Ikerd and had been designated operator under the Ikerd mine permits. On June 6, 2011 the Company announced that Ikerd had been granted the KPDES and the Novadx recommenced operations at the Flatwoods Mine.

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