30th Jun 2009 10:56
Atlantic Coal plc / Index: AIM / Epic: ATC / Sector: Mining
30 June 2009
Atlantic Coal plc ('Atlantic' or 'the Company')
Annual Report
Atlantic Coal, the AIM listed opencast coal production and processing company with activities in Pennsylvania, announces that its annual report and financial statements for the year ended 31 December 2008 have been posted to its shareholders. Copies will also be available via the Company's website (www.atlanticcoal.com) in accordance with AIM Rule 26 and at the Company's registered office, 200 Strand, London WC2R 1DJ.
**ENDS**
For further information on the Company, visit: www.atlanticcoal.com or contact:
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Atlantic Coal plc
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Stephen Best / Greg Kuenzel
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Tel: 020 7182 1747
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HB Corporate
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Rod Venables / James Reeve
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Tel: 020 7510 8600
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Fox Davies Capital
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Daniel Fox-Davies
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Tel: 020 7936 5230
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St Brides Media & Finance Ltd
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Hugo de Salis / Chris Welsh
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Tel: 020 7236 1177
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About the Company:
Atlantic Coal owns and operates the Stockton Colliery which comprises an opencast anthracite mine and an adjacent anthracite washing plant. The mine is an established non-union surface mine encompassing circa 900 land acres in the Hazle Creek Valley, Pennsylvania and has an estimated proven reserve of 4 million tonnes. Mining of raw coal is from the high quality mammoth seam, while washing and sizing takes place in the 150 tonne per hour coal preparation plant. J T Boyd Company, the Company's Competent Person, estimated that there is over 10 years of mine life from existing reserves at an average production rate of 400,000 Run of Mine ('ROM') tonnes per annum. Based on historic production levels, the mine is capable of and is projected to produce approximately 450,000 ROM tonnes of coal per year. Mining operations are conducted by the use of hydraulic excavators. Uncovered raw coal is then loaded into 100 tonne trucks for delivery to the onsite preparation plant. As each section of the mine is developed, mining progresses from the northern and southern faces into the basin. This yields a constant flow of raw coal to the preparation plant.
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Atlantic Coal