Royal Coal loses board members, CEO

Financially-troubled Royal Coal Corp. (TSX VENTURE: RDA) (FRANKFURT: RLC), which has coal mines in eastern Kentucky, said May 9 in a brief statement that it has received the resignations of the following directors: Scott Hand, John Ellis, James Ladner, Michael Rousseau, Dino Titaro and Elia Crespo.

The company said in the May 9 statement that it has also received the resignation of CEO Robert Heuler.

Royal Coal previously announced on April 24 that it had received the resignation of Jeff Lowe as company CFO.

Royal Coal is a coal exploration and production company, headquartered in Toronto, Canada, with a regional office in Hazard, Ky. Royal Coal said April 19 that it will be delayed indefinitely in the filing of its annual financial statements for the year ended Dec. 31, 2011, and related documents. “The indefinite delay in filing the 2011 Annual Filings will occur as a result of the Company’s current inability to fund the operation of its business, including the costs of completing the 2011 Annual Filings,” the company added at the time.

About Barry Cassell 20414 Articles
Barry Cassell is Chief Analyst for GenerationHub covering coal and emission controls issues, projects and policy. He has covered the coal and power generation industry for more than 24 years, beginning in November 2011 at GenerationHub and prior to that as editor of SNL Energy’s Coal Report. He was formerly with Coal Outlook for 15 years as the publication’s editor and contributing writer, and prior to that he was editor of Coal & Synfuels Technology and associate editor of The Energy Report. He has a bachelor’s degree from Central Michigan University.