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CanAm announces record coal sales

Stockhouse Editorial
0 Comments| July 16, 2013

CanAm Coal Corp. (TSX: V.COE) said coal sales for the quarter ended June 30, 2013 were 167,500 tons, the best results in the company's history and a 12% increase over the first quarter.

According to the CanAm Coal press release, for the six month period ended June 30, 2013, sales were 317,000 tons as compared to 248,000 tons or an increase of 28% on a year to date basis.

During the second quarter of 2013, the company made significant progress to its goal of full production at its three new mines.

Despite the fact we were still in a transition phase for most of the second quarter, CanAm was still able to achieve the best production and sales results in its history,” said Jos De Smedt, President and CEO. “Now that our transition has been completed, we can expect to achieve full scale commercial production for the foreseeable future. Add to this the fact we are fully contracted gives us optimism as we start the second half of the year".

The company is expecting to release its second quarter full financial results in August 2013.

CanAm is a coal producer and development company focused on growth through the acquisition, exploration and development of coal resources.

On Tuesday, CanAm soared 30% and was trading at $0.065 a share. The company had a market cap of $9.4 million, based on 145 million shares outstanding.

Tags: COAL

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