Corsa makes new met coal sales, ups Q4 guidance

Corsa Coal Corp. (TSXV: CSO), which has met coal mining operations in central Pennsylvania and in Maryland, said Nov. 12 that it has upped its fourth quarter guidance based on new sales contracts.

The company now expects to ship approximately 75,000 tons in the calendar fourth quarter, of which it expects 55,000 tons to be taken into sales in its fiscal fourth quarter and the remainder to fall into next fiscal year sales. The company had previously given guidance that it expected to ship 32,000 tons of met coal in its fiscal fourth quarter.

As a result of the new sales, the new Casselman deep mine in Maryland, temporarily idled in mid-October, has recommenced full operations together with its coal preparation plant. The company has continued to be successful in achieving sales as a result of the superior quality of its low-vol met coal product. The company said it continues to actively market its 2013 production and will continue to match its production to actual sales.

Corsa’s main operating subsidiaries are Wilson Creek Energy LLC and Maryland Energy Resources LLC, based in Somerset County, Pa. Its primary business is the mining, processing and selling of metallurgical coal, as well as exploring, acquiring and developing resource properties consistent with its coal business.

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.