Aim Exploration Inc. (AEXE) is a Henderson, Nevada headquartered company. Aim operates as a mining company focusing towards Anthracite production in Peru and worldwide marketing through a joint venture corporation with Prina Energy of India. The joint venture marketing arm is currently in the process of being formed and is intended to have the head office in Dubai, UEA.
The Anthracite Coal concessions are owned and/or controlled through their wholly owned subsidiary Aim Exploration SA. in Peru. AIM considers the mining concessions in Peru to be a high grade Anthracite Coal property in the Alto Chicama basin, in the province of Otuzco in Peru. Aim SA acquired these rights by purchasing these assets from Percana Mining Corp (Percana SA), a Peruvian corporation.
The assets encompass 1,000 hectares of mining concession property consisting of three sites of 600, 200 and 200 hectares respectively. Percana SA initially acquired these properties based on indications of the presence of high grade anthracite coal. Illegal artisan miners are currently operating multiple one-entry mines on the property, which further indicates the presence and mine-ability of these deposits. To verify the geology and quality of the coal, Percana SA commissioned local geologists to compile a technical report on the 1,000 hectares. Although the report yielded optimistic estimates of resources, reserves and economics, it does not meet public reporting standards.
Consequently, Aim commissioned Gustavson Associates (of Colorado, USA) to visit the site, and to recommend plans for commencing mining projects on the property. The visit occurred at the end of 2013, and the report thereof outlined a four-phased approach for obtaining an “Indicated & Measured” classification for the deposits, and for compiling a Preliminary Economic Assessment. Aim now has a 36-month operations plan that accounts for the steps recommended by Gustavson, while enabling the company to immediately commence the business of selling coal sourced from artisan miners on and around its property.