UPDATE 12/12/2022:
We have communicated with all of the Prospective Buyers and the Sellers, and the feedback we have received is that due to the voluminous amount of information, year end tax deadlines as well as the Holidays, the overwhelming response is that more time is necessary to evaluate all of the due diligence and engage professionals in the process.
We have consulted with the Seller's and have determined that it is in everyone's best interest to extend the bid due date.Sealed Bids are now due February 15th, 2023 by 4:00 PM ET
OTTER CREEK MINING
Over 7,250 Acres of Coal Mineral Rights & 1,625.07 Acres of Surface Leases located in Clay County, West Virginia. Selling the Coal Minerals & Surface Leases Only!
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Over 38M Tons of Proven & Probable Coal Reserves
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Over 22M Tons of Possible Additional Coal Reserves
The subject property is situated in central West Virginia, in Appalachian Mountain terrain, where primary land use includes forestland, rural residential & natural resource recovery.
The property has been evaluated three times since 1975 for coal reserves and resources. There has never been any surface or deep mining on the property, although there is evidence of small ‘house coal' punch mines in several coal seams. In addition, observations have been made regarding available transportation corridors for bulk material movement.
Coal Reserve Study
In 1975 Gaddy Engineering initiated an exploration program and reserve study. Gaddy's preliminary report identified and quantified coal reserves in thePittsburgh, Upper Freeport, Middle and Lower Kittaning, Stockton, Coalburg, Winifrede, Cedar Grove, and an unnamed coal bed.
In 1976, professional geologist, O. F. Patterson, conducted an extensive review of existing outcrop openings, and developed new openings in the seams identified on the property by Gaddy. Patterson's study provided additional data points to confirm reserves, and re-evaluated reserve tonnages based upon the new data. Patterson's study providedcoal quality analysis, including washability, some measurements of Hardgrove Grindability Index, Ash Fusion Temperature, and Free Swelling Index.This study classified reserves in 5 coal beds as proven and probable, and provided an estimation of possible metallurgical quality reserves.
Transportation
The Property is very near Interstate 79, at the intersection of I-79 and West Virginia State Route 16. Route 16 provides a connection with I-79 and West Virginia Route 4.
Mining Permits
In the mid 1980's, Cravat Coal Company of Bellaire, Ohio evaluated the Pittsburgh Seam reserves, and developed a Surface Mine Permit Application, along with the baseline water study to acquire an associated NPDES (National Pollutant Discharge Elimination System) permit. The permit was not started, however, data accumulated to address the WV Mining and Reclamation regulations permit requirements of the time remains available, including water quality, geology, and facility designs.
Tabulated Reserves:
As summarized in the 2006 Empire Consulting Services report, the property coal reserves which have been identified by seam are as follows:
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IVYDALE TRACT RESERVE SUMMARY*
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SEAM/SOURCE1
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PROVEN
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PROBABLE
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TOTAL
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RESOURCES
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Pittsburgh/GEC-1986
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432
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0
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432
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0
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Upper Freeport/OFP-1976
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9,157
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4,515
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13,672
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993
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Middle Kittaning/GEC-1976
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1,369
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4,019
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5,388
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5,424
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Lower Kittaning/GEC-1976
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2,153
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6,245
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8,398
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8,459
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Coalburg/GEC-1976
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2,504
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8,377
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10,881
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7,143
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TOTAL
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15,615
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23,156
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38,771
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22,019
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*Reported in Tons x1000
Copies of the reports, core logs, quality analysis, lease information, permit application are available for review, upon request.
DISCLAIMER: HIS OFFERING IS SOLD “AS-IS” AND “WHERE-IS” WITHOUT WARRANTY OR GUARANTEE BY THE SELLER/OWNERSHIP (OTTER CREEK MINING GENERAL PARTNERS & LIMITED PARTNERS), AGENT (TRANZON ASSET ADVISORS), ENGINEERING FIRM (DECOTA CONSULTING) AND/OR ANY CONSULTANTS/EMPLOYEES OF THE ABOVE WHICH ARE ASSISTING WITH AND PROVIDING TECHNICAL INFORMATION, DATA, REPORTS AND/OR ANY INFORMATION ON THE OFFERING, EXCEPT FOR CLEAR TITLE AS PROVIDED IN THE STEPTOE JOHNSON LAW OPINION OF TITLE DATED OCTOBER 2022. TRANZON ASSET ADVISORS IS AN AGENT OF THE SELLER/OWNERS
Terms & Conditions
The following summary of Terms & Conditions of Auction Sale is only intended to provide you a brief outline. For a complete copy, either download the Property Information Package, if available, or contact Kelly Toney, CAI
Kelly Toney, CAI: Tranzon Asset Advisors
713-816-1123
ktoney@tranzon.com
All bidders must agree to all of the Terms & Conditions of Auction Sale prior to bidding at any Tranzon auction. Listings may be withdrawn or modified without notice at anytime.
For general information on the auction process, please review the Frequently Asked Questions.
- Buyer's Premium: Please see the Sealed Bid Form.
- Closing: Please see the Sealed Bid Form.
- Deposit Amount: Please see the Sealed Bid Form.
- Broker Co-op:
- Agency Disclosure: The member company acting as auctioneer/agent is an agent for the seller only.
- Disclaimer: Information contained herein is believed to be correct to the best of auctioneer/agent's knowledge but is subject to inspection and verification by all parties relying on it. Sellers, their representatives and auctioneer/agent shall not be liable for inaccuracies, errors, or omissions. All square footage and other dimensions are approximate. This offering is subject to prior sale and may be withdrawn, modified or cancelled at any time without notice.