TORONTO,
April 10, 2013 /PRNewswire/ - Corsa
Coal Corp. (TSXV: CSO) ("Corsa" or the "Company") is pleased to
announce that its common shares will recommence trading on the TSX
Venture Exchange at the open on April 11,
2013. The halt was a normal course halt required by
the TSXV in connection with Corsa's agreement to acquire
Quintana Kopper Glo Investments, LLC
announced on March 21, 2013.
In addition, the Company announced that it is
again increasing its published sales guidance. For fiscal 2013 it
is increasing its contracted sales guidance to approximately
300,000 to 320,000 tons and for fiscal Q1 2014 to approximately
45,000 to 60,000 tons.
Don Charter,
President and CEO stated: "We have had very positive sales momentum
since the beginning of the fiscal year. This is the result of
the hard work of our team and is reflective of the quality of our
product."
The Company continues to actively market its
high quality low volatile metallurgical coal and matches production
to actual sales. The Company reports future sales guidance based on
currently contracted volumes. The Company has continued to be
successful in achieving sales as a result of the quality of its low
volatile met coal product.
Caution
The estimated coal production, purchases, sales
and processing of coal disclosed in this press release are
considered to be forward looking information. Readers are cautioned
that actual results may vary from this forward looking information.
Actual production, sales, shipments, purchases, total cash costs
and sales and processing costs are subject to variation based on a
number of risks and other factors referred to under the heading
"Forward-Looking Statements" as well as actual demand and sales
orders received. Costs will be impacted by production levels
actually achieved.
Information about Corsa
Corsa's main operating subsidiaries are Wilson
Creek Energy LLC and Maryland Energy Resources LLC based in
Somerset County,
Pennsylvania. Its primary business is the mining,
processing and selling of metallurgical coal, as well as actively
exploring, acquiring and
developing resource properties consistent
with its coal business.
Forward-Looking Statements
Certain information set forth in this press
release contains "forward-looking statements" and "forward-looking
information" under applicable securities laws. Except for
statements of historical fact, certain information contained herein
constitutes forward-looking statements which include management's
assessment of future plans and operations and are based on current
internal expectations, estimates, projections, assumptions and
beliefs, which may prove to be incorrect. Some of the
forward-looking statements may be identified by words such as
"estimates", "expects" "anticipates", "believes", "projects",
"plans", "outlook", "capacity" and similar expressions. These
statements are not guarantees of future performance and undue
reliance should not be placed on them. Such forward-looking
statements necessarily involve known and unknown risks and
uncertainties, which may cause the Company's actual performance and
financial results in future periods to differ materially from any
projections of future performance or results expressed or implied
by such forward-looking statements. These risks and uncertainties
include, but are not limited to: risks that the actual production
or sales for the 2013 or 2014 fiscal years will be less than
projected production or sales for these periods; risks that the
prices for coal sales will be less than projected or expected;
liabilities inherent in coal mine development and production
including restarting idled mines; geological, mining and processing
technical problems; inability to obtain required mine licenses,
mine permits and regulatory approvals or renewals required in
connection with the mining and processing of coal; risks that the
Company's coal preparation plant will not operate at production
capacity during the relevant period, unexpected changes in coal
quality and specification; variations in the coal mine or coal
preparation plant recovery rates; dependence on third party coal
transportation systems; competition for, among other things,
capital, acquisitions of reserves, undeveloped lands and skilled
personnel; incorrect assessments of the value of acquisitions;
changes in commodity prices and exchange rates; changes in the
regulations with respect to the use, mining and processing of coal;
changes in regulations on refuse disposal; the effects of
competition and pricing pressures in the coal market; the
oversupply of, or lack of demand for, coal; inability of management
to secure coal sales or third party purchase contracts; currency
and interest rate fluctuations; various events which could disrupt
operations and/or the transportation of coal products, including
labour stoppages and severe weather conditions; the demand for and
availability of rail, port and other transportation services; the
ability to purchase third party coal for processing and delivery
under purchase agreements; and management's ability to anticipate
and manage the foregoing factors and risks. The forward-looking
statements and information contained in this press release are
based on certain assumptions regarding, among other things, future
prices for coal; future currency and exchange rates; the Company's
ability to generate sufficient cash flow from operations and access
capital markets to meet its future obligations; the regulatory
framework representing royalties, taxes and environmental matters
where the Company conducts business; coal production levels; and
the Company's ability to retain qualified staff and equipment in a
cost-efficient manner to meet its demand. There can be no assurance
that forward-looking statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. The reader is cautioned not to
place undue reliance on forward-looking statements. The Company
does not undertake to update any of the forward-looking statements
contained in this press release unless required by law. The
statements as to the Company's capacity to produce coal are no
assurance that it will achieve these levels of production or that
it will be able to achieve these sales levels.
Completion of the transaction with Quintana
Kopper Glo Investments, LLC is subject to a number of conditions,
including TSXV acceptance and disinterested shareholder approval.
The transaction cannot close until the required shareholder
approval is obtained. There can be no assurance that the
transaction will be completed as proposed or at all.
Investors are cautioned that, except as
disclosed in the Filing Statement or Management Information
Circular to be prepared in connection with the transaction, any
information released or received with respect to the transaction
may not be accurate or complete and should not be relied upon.
Trading in the securities of Corsa should be considered highly
speculative.
The TSX Venture Exchange has in no way passed
upon the merits of the proposed transaction.
The TSX Venture Exchange has neither approved nor
disapproved the contents of this press release. Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
SOURCE Corsa Coal Corp.