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.