Working with industry leaders we identified and funded an asset that provided a three-fold return in just twelve months.
In the exploration stage, Colonial Coal is the only Canadian listed, Publicly traded pure-play coking coal company in Western Canada made up of two key sites in the Peace River Coal Field in British Columbia, Huguenot, and Flatbed.
David Austin, CEO has an exceptional track record in the coal industry. He was a co-founder two coal companies which sold for $3,300,000,000 and $400,000,000 respectively.The metallurgical coal industry is being driven by a return to U.S. manufacturing and represents significant value in China and India as it is a key component in steel manufacture.
Coal production in British Columbia was worth $5,960,000,000 in 2017 up dramatically from $2,630,000,000 in 2016.
The spot price of metallurgical coal is currently selling at $250 per ton.
Based on a proven resource, a proven region, and a management team with a record of success Thought Launch saw and seized an emerging opportunity.Thought Launch saw and seized an opportunity to enhance a valuable asset in a thriving North American economy, betting on an upward economic trend for metallurgical coal.
Thought Launch became involved with Colonial Coal in 2017 where they raised $8,000,000. Of the financing, $3,500,000 was spent on further proving the resource.