L&L (LLEN) Board to Hold Strategic Meeting to Discuss Growth
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L&L Energy, Inc. (NASDAQ: "LLEN") a Seattle-based company with a track record of profitable coal operations in China, announced that its Board of Directors (the "Board") will meet in Sanya, Hainan Island, China on January 25, 2013 for four days of strategic planning.
In the current fiscal year beginning May 1, 2012, L&L has demonstrated material growth both in sales and earnings. As of the October 31, 2012, the Company has seen four consecutive quarters of increased production, net income and earnings per share, which was a result of the Company's efforts to upgrade its mining portfolio and grow its wholesale segment. L&L increased business with one of China's largest end users, Datang Power and expects sales to steadily grow over 2013. The Company was also able to acquire two newly built mines with 34.2 million tons of reserves.
As the Company begins 2013, the Board has called a strategic planning session in China to asses L&L's expansion opportunities for the coming year. Over the four days, Directors will discuss acquisitive and organic growth of L&L's current operations in mining and wholesale, as well as additional opportunities in Northern provinces, specifically L&L's expansion of its Beijing operations. The Board will also focus on a potential dual listing in Asia, as the Company's common stock may see stronger sponsorship among Asian investors and financial market intermediaries. Last fall L&L shareholders voted to give management and the Board discretion to explore dual listing L&L's common stock on an exchange that would provide stronger valuations.
L&L's Chairman and CEO, Dickson Lee commented, "We have demonstrated our ability to execute in the world's fastest growing economy and our robust corporate ambition has provided many opportunities going forward. As my resolve and passion has, and always will be for growth and shareholders benefit, I called for this Board of Directors meeting to discuss these opportunities in depth. I appreciate the Board's commitment and look forward to four intensive and productive days. "
In the current fiscal year beginning May 1, 2012, L&L has demonstrated material growth both in sales and earnings. As of the October 31, 2012, the Company has seen four consecutive quarters of increased production, net income and earnings per share, which was a result of the Company's efforts to upgrade its mining portfolio and grow its wholesale segment. L&L increased business with one of China's largest end users, Datang Power and expects sales to steadily grow over 2013. The Company was also able to acquire two newly built mines with 34.2 million tons of reserves.
As the Company begins 2013, the Board has called a strategic planning session in China to asses L&L's expansion opportunities for the coming year. Over the four days, Directors will discuss acquisitive and organic growth of L&L's current operations in mining and wholesale, as well as additional opportunities in Northern provinces, specifically L&L's expansion of its Beijing operations. The Board will also focus on a potential dual listing in Asia, as the Company's common stock may see stronger sponsorship among Asian investors and financial market intermediaries. Last fall L&L shareholders voted to give management and the Board discretion to explore dual listing L&L's common stock on an exchange that would provide stronger valuations.
L&L's Chairman and CEO, Dickson Lee commented, "We have demonstrated our ability to execute in the world's fastest growing economy and our robust corporate ambition has provided many opportunities going forward. As my resolve and passion has, and always will be for growth and shareholders benefit, I called for this Board of Directors meeting to discuss these opportunities in depth. I appreciate the Board's commitment and look forward to four intensive and productive days. "
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