Operations Update
04 10월 2010 - 10:41PM
UK Regulatory
TIDMWTN
RNS Number : 8158T
Western Coal Corporation
04 October 2010
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| | 1000 - 885 Dunsmuir |
| | Street |
| | Vancouver, B.C. V6C |
| | 1N5 |
| | Phone |
| | 604-608-2692 |
| | info@westerncoal.com |
| | www.westerncoal.com |
| | |
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| | | |
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News ReleaseWTN 10-23
Western Coal Announces 90% Increase in Fiscal Q2-2011 Production and Increases
Production Guidance for Fiscal Year 2011
Vancouver, BC, October 4, 2010 - Western Coal Corp. (TSX: WTN, WTN.WT and AIM:
WTN)("Company" or "Western") announces an increase of approximately 90% in coal
production to 1.5 million tonnes for its fiscal second quarter ended 2011
(quarter ending September 30, 2010), compared with the quarter a year earlier.
Western also increased its production guidance for the full fiscal year 2011
(year ending March 31, 2011) to 6.1 million tonnes from the prior target of 6.0
million tonnes. The revised target represents an increase of approximately 91%
from the 3.2 million tonnes produced in fiscal 2010.
Keith Calder, President and Chief Executive Officer of Western Coal Corp. said,
"Producing 1.5 million tonnes in fiscal Q2-2011 represents a new quarterly
record for Western. Our strong performance so far, which will be further
bolstered with the addition of new equipment just arriving at our mines, gives
us confidence that we can achieve our new and higher volume target for the year,
and that our delivery plan is working."
Continued Mr. Calder, "We are especially fortunate because of the proximity of
our British Columbia metallurgical coal mines to the northern port of Ridley
Terminals in Prince Rupert, B.C. Ridley Terminals is the North American coal
port closest to Asia and the only major coal port in the world with excess
capacity. Our partners Ridley Terminals and CN Rail are helping us to satisfy
the growing demand for our metallurgical coal products in Asia."
Western Coal Fiscal Second Quarter 2011 and First Half Fiscal 2011 Production
+------------+---------------+-----------+---------+--------+-----------+-----------+--------+
| Metric | Coal | Fiscal | Fiscal | % | YTD | YTD | % |
| tonnes | type | Q2-2011 |Q2-2010 |change | Fiscal | Fiscal |change |
| Operations | | | | | 2011 | 2010 | |
+------------+---------------+-----------+---------+--------+-----------+-----------+--------+
| Canada | Hard | 573,000 | 327,000 | 75% | 1,060,000 | 686,000 | 55% |
| | coking | | | | | | |
+ +---------------+-----------+---------+--------+-----------+-----------+--------+
| | Low-vol | 457,000 | 173,000 | 164% | 830,000 | 220,000 | 277% |
| | PCI | | | | | | |
+ +---------------+-----------+---------+--------+-----------+-----------+--------+
| | Total | 1,030,000 | 500,000 | 106% | 1,890,000 | 906,000 | 109% |
+------------+---------------+-----------+---------+--------+-----------+-----------+--------+
| US |Metallurgical | 205,000 | 93,000 | 120% | 381,000 | 93,000 | 310% |
| | | | | | | | |
+ +---------------+-----------+---------+--------+-----------+-----------+--------+
| | Thermal | 270,000 | 183,000 | 48% | 468,000 | 183,000 | 156% |
+ +---------------+-----------+---------+--------+-----------+-----------+--------+
| | Total | 475,000 | 276,000 | 72% | 849,000 | 276,000 | 208% |
+------------+---------------+-----------+---------+--------+-----------+-----------+--------+
| Welsh | Anthracite | 28,000 | 29,000 | (4%) | 62,000 | 29,000 | 114% |
+------------+---------------+-----------+---------+--------+-----------+-----------+--------+
| Total | | 1,533,000 | 805,000 | 90% | 2,801,000 | 1,211,000 | 131% |
| volume | | | | | | | |
+------------+---------------+-----------+---------+--------+-----------+-----------+--------+
Note:
· Fiscal Q2-2011 Canadian Operations results include hard coking coal and
low-volatile PCI coal produced at the recently restarted Willow Mine.
· US Operations and Welsh Operations were acquired July 14, 2009 and are
only included in the Company's results from that point forward.
About Western Coal
Western Coal is a producer of high quality metallurgical coal from three mines
in northeast British Columbia (Canada), high quality metallurgical coal and
compliant thermal coal from four mines located in West Virginia (USA), and high
quality anthracite and metallurgical coal in South Wales (UK). Other interests
owned include a 24% interest in Mandalay Resources Corporation (MND: TSX), 40%
interest in Xtract Energy (XTR: AIM), and a 20% interest in NEMI Northern Energy
& Mining (NNE.A: TSX). The Company is headquartered in Vancouver, BC, Canada,
and trades on the AIM and TSX stock exchanges under the symbol "WTN". More
information can be found at www.westerncoal.com
Forward-Looking Information
This release may contain forward-looking statements that may involve risks and
uncertainties. Such statements relate to the Company's expectations,
intentions, plans and beliefs. As a result, actual future events or results
could differ materially from those suggested by the forward-looking statements.
Readers are referred to the documents filed by the Company on SEDAR. Such risk
factors include, but are not limited to changes in commodity prices; strengths
of various economies; the effects of competition and pricing pressures; the
oversupply of, or lack of demand for, the Company's products; currency and
interest rate fluctuations; various events which could disrupt the Company's
construction schedule or operations; the Company's ability to obtain additional
funding on favourable terms, if at all; and the Company's ability to anticipate
and manage the foregoing factors and risks. Additionally, statements related to
the quantity or magnitude of coal deposits are deemed to be forward-looking
statements. The reliability of such information is affected by, among other
things, uncertainties involving geology of coal deposits; uncertainties of
estimates of their size or composition; uncertainties of projections related to
costs of production; the possibilities in delays in mining activities; changes
in plans with respect to exploration, development projects or capital
expenditures; and various other risks including those related to health, safety
and environmental matters.
For further information:
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| Western Coal Corp. | Buchanan | |
| David Jan | Communications | |
| Head of Investor | Bobby Morse / | |
| Relations | Katharine Sutton | |
| +1 604 694 2891 | +44 (0)207 466 5000 | |
| David.jan@westerncoal.com | bobbym@buchanan.uk.com | |
| | | |
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This information is provided by RNS
The company news service from the London Stock Exchange
END
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