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MCoal has not yet applied for permits for Phase II and Phase III

The following is a summary and extracts of a presentation to investors dated February, 2010 by MCoal

PRESENTATION

February, 2010

This presentation includes certain statements that constitute “forward-looking statements” within the meaning of Section 27A of the United States Securities Act of 1933 and Section 21E of the United Sates Securities Exchange Act of 1934.

Introduction

 

  • Novadx Ventures Corp, TSX Venture Exchange (Symbol “NDX”) is a coal focused merchant banking company based in Vancouver, BC, Canada.
  • MCoal Corporation is a Nevada company and a wholly-owned subsidiary of Novadx Ventures Corp: 
  • Mcoal was established to acquire and develop metallurgical and specialty coal projects in the United States.
  • MCoal’s first project is the Rosa Coal metallurgical coal mine located in Northern Alabama.
  • MCoal is now seeking $3 million in project debt financing for the Rosa Coal mine.
  • MCoal has developed a pipeline of a number of accretive property acquisitions:

 

 

MCoal’s Growth Story

  • The Rosa Coal mine and team becomes the platform for future acquisitions.
  • Acquisitions will focus on metallurgical and specialty coals in the Appalachians.
  • The Rosa Coal mine showcases MCoal’s team’s operational and engineering capability.
  • As a permitted producer, MCoal becomes a very credible consolidator “buyer” of the other targeted properties.
  • MCoal intends to increase production to 2+ million tons per year through strategic acquisition of 100 million tons of metallurgical coal reserves in the next 3 years.
  • The first small acquisition is under negotiation, is partially permitted and can be contract mined at a rate of 200,000 tons per year by end of calendar 2010.
  • A second potential acquisition with 20 million tons of reserves and 250,000 tons per year of current production is at an advanced stage of evaluation but will require additional capital (~ $30 million) to complete.

Next Milestones

  • Close the Rosa Coal Mine project debt financing (CDN$ 3 Million).
  • Close first acquisition and open 2nd mine in fall 2010.
  • Achieve aggregate production of 330,000 tons/year by Dec 2010.
  • Permit Phase 2 by Dec 2011.
  • adding 150,000 tons of annual production at Rosa.
  • Get commitments for $25-50 million in financing to fund the acquisition program.
  • ontinue evaluating new acquisition opportunities.

Click to see the full presentation

Mine Plan and Estimated Resources

MCoal’s plan is to mine over 4 million tons of recoverable coal from the Rosa Coal deposit over 12 years in 3 phases as follows:

Estimated In-Situ Resources (Nov 13, 2009)
Phase
1
2
3
Total
Mining Method
Auger
Auger
Strip
UG/Trench
Measured
1,106,972
450,257
43,278
1,207,836
2,808,343
Indicated
450,977
63,606
2,904,387
3,418,970
Inferred
261,287
2,677
1,780,262
2,044,226
Total tons in situ
1,106,972
1,162,521
109,561
5,892,485
8,271,539
% Recovery
58.5%
58.5%
85%
51%
53.5%
Recoverable tons
647,579
680,075
93,127
3,005,167
4,425,948

 

Estimated Recoverable Reserves (Nov 13, 2009)
Phase
1
2
3
Total
Mining Method
Auger
Auger
Strip
UG/Trench
Proven
647,579
277,957
22,257
615,997
1,563,790
Probable
305,387
12,500
1,481,237
1,799,124
Total
647,579
583,344
34,757
2,097,234
3,362,914

Note: this estimate was compiled for MCoal by McGehee Engineering and has not been published in a 43-101 compliant report

Permitting

  • MCoal has been granted all necessary permits required to commence Phase 1 of its Rosa Coal mine plan. These permits include its ASMC mining license, ADEM NPDES permit, Army Corps of Engineers permit, MSHA registration and the ASMC mine permit.
  • MCoal plans to commence Phase 1 Rosa coal production by auger mining in March 2010.
  • MCoal will begin permitting its Phase 2 mine plan in the spring of 2010 and Phase 3 mine plan in the fall of 2011.