7th Oct 2014 07:00
Atlantic Coal plc / Index: AIM / Epic: ATC / Sector: Mining
Atlantic Coal plc ("Atlantic" or the "Company")
Q3 2014 Productionand sales update
Atlantic Coal, the AIM listed opencast anthracite coal production and processing company with primary activities in Pennsylvania, USA is pleased to announce a positive production and sales update for the quarter ended 30 September 2014 from its Stockton Anthracite Mine ("Stockton"), located near Hazleton, Pennsylvania.
Q3 2014 Key production and sales fundamentals:
● Clean coal production of 33,712 tons (Q3 2013: 28,629 tons);
● Clean coal production up to end Q3 2014: 118,279 tons (up to end Q3 2013: 109,455 tons);
● Clean coal sales of 37,093 tons (Q3 2013: 40,462 tons);
● Clean coal stockpile stood at 8,839 tons (Q3 2013: 3,646 tons);
● Run of Mine ("ROM") production of 57,624 tons (Q3 2013: 50,905 tons);
● ROM stockpile stood at 16,446 tons (Q3 2013: 59,395 tons);
● 841,470 bank cubic yards ("BCY") of overburden removed (Q3 2013: 572,334 BCY);
Production Summary:
Overburden Removed (BCY) | Run of Mine production (tons) | Clean Coal Production (tons) | Coal Sales (tons) | Total clean coal production to end of Q3 |
841,470 | 57,624 | 33,712 | 37,093 | 118,279 |
Atlantic Coal's Managing Director,Steve Best, said: "Our Q3 volumes were strong and I am pleased to report that at the end of September we had achieved a Stockton Mine record production level and are on course to break the Mine's annual production record. This is particularly pleasing given the poor start to the year caused by the severe winter weather which affected not only Pennsylvania but large parts of the USA.
I am also pleased to report that market price levels continue to improve and demand from all market sectors is strong. Against this background we have now commenced two full shifts working on Saturdays at the wash plant as well as the mine working two shifts covering 5.30 am to 12.30 am and 24 hour working at the wash plant Monday to Friday in order to meet demand.
We look forward to updating you on both Atlantic and Stockton Mine progress."
**ENDS**
For further information on the Company, visit: www.atlanticcoal.com or contact:
Steve Best | Atlantic Coal plc | Tel: 020 3328 5670 |
Nick Naylor | Allenby Capital Limited | Tel: 020 3328 5656 |
Alex Price | Allenby Capital Limited | Tel: 020 3328 5656 |
Related Shares:
Atlantic Coal