re: Ann: ATTILA SIGNS OPTIONS TO ACQUIRE 70% ... December 26,...

re: Ann: ATTILA SIGNS OPTIONS TO ACQUIRE 70% ...
December 26, 2008

Reported that as a result of high operational costs, difficult operating conditions and a challenging pricing environment, the Kodiak Mine will be closed permanently


September 30, 2008

Production at Kodiak Mining decreased due to several unexpected adverse events during the third quarter of 2008. Tons produced since inception are lower than originally projected. Factors including lower yields, significant equipment downtime and adverse geological conditions have all contributed to the shortfall. Kodiak continues to evaluate the long-term viability of this venture

http://www.infomine.com/index/properties/KODIAK.html

Kodiak Closure. On December 26, 2008, the Company announced the permanent closure of the underground coal mine owned by the Kodiak Mining Company, LLC ("Kodiak"), located in Shelby County, Alabama, as a result of high operational costs, difficult operating conditions and a challenging pricing environment for Kodiak's product. As a result of the closure of the Kodiak mine in December 2008, historical results have been presented as discontinued operations. For additional discussion, see Note 3 of "Notes to the Consolidated Financial Statements."



http://google.brand.edgar-online.com/EFX_dll/EDGARpro.dll?FetchFilingHtmlSection1?SectionID=6446035-5488-37904&SessionID=8HKDFvEvZghtf27