SEATTLE, January 17, 2012. L & L Energy,
Inc. (Nasdaq: LLEN) ("L&L" or the
"Company"), a U.S. based company since 1995
with coal mining and distribution businesses in southwest
China, announced today it is concentrating greater efforts in
the Guizhou
Province, specifically, on new acquisitions that will focus
on larger mines, as well as newer mines that meet anticipated
enhanced
safety and mechanization regulations . The Company will also
explore geographical diversification from southwestern China
by
looking at new coal resources in other provinces.
L&L recently signed two joint sales/marketing agreements with
two giants; China Chengtong Metals Co. and Tianjin Fuhao
Industrial
Co. Ltd to expand its wholesale operation in addition to its
existing sales operations in South China. If fully executed,
the agreements
collectively will generate approximately $US 300 million in
revenues throughout 2012.
L&L also recently added Mr. Jingcai Yang as an advisor. He is
a former senior executive from China Shenhua Group
Corporation
Limited, the world largest coal producer and will assist the
Company to explore coal sales on a national level. As an
executive who ran
one of the largest surface mines in the world, Mr. Yang will
also help the Company evaluate potential surface mines, which
have
experienced fewer disruptions than underground mines.
The Company also recently signed an MOU with three newly
built mines Guizhou and is in active negotiations to acquire
all three.
Dr. Syd Peng commented, "What I learned from my recent
extensive visit to inspect potential mine acquisitions is
that the Company
should take advantage of the new availability of larger mines
with stronger management teams as well as some new mines that
meet
anticipated enhanced safety and mechanization
regulations."
Dickson Lee, Chairman and CEO added, "As a company with
16 years of experience in China we have consistently sought
to take our
operations to the next level. Our partnerships with companies
of CCMC and Tianjin Fuhao's caliber have exposed us to
many new
opportunities. We believe our vision and hard work have
helped us to navigate this somewhat turbulent past year and
we are
positioning ourselves to bring solid results to our
shareholders."
Forward-Looking Statements
The statements contained words that are not historical fact,
including statements related to Company's future
performance, are all
"forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995, and
involve a number of risks
and uncertainties. Actual results of the future events
described in this document could differ materially due to
numerous factors and
other made by the company filing with the Securities and
Exchange Commission. Other than as required under the
securities laws, the
Company does not assume a duty to update these
forward-looking statements
Contacts:
L&L Energy, Inc.
(206) 264-8065
ir@llenergyinc.com
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SOURCE: L & L Energy, Inc.
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