Birch Mountain (AMEX:BMD) Shares Climb 15 Percent on Word of Long-Term Contract
Birch Mountain Resources Ltd. (AMEX: BMD) shares closed at $3.63 today, up 48 cents, or 15 percent in afternoon trading. The company announced today it signed a three-year contract with Suncor Energy Inc. (AMEX: TSX) for the supply of construction aggregates from its Muskeg Valley Quarry.Though the company said the terms of the contract are confidential, Joel Jarding, president and CEO of Birch Mountain said this is the first long-term aggregate of its kind in the oil sands of Alberta. "Shifting to longer-term contracts as opposed to the historical spot market is a strategic opportunity for Birch Mountain with mutual…