CanAm Coal reports strong sales figures in August

CanAm Coal (TSX-V: COE)(OTCQX: COECF), which is a coal producer in Alabama, said Sept. 26 that its preliminary coal sales for the month of August came in it approximately 65,500 tons.

This is after a record 67,500 tons in July and is further evidence that the company’s new mine alignment has the ability to consistently produce/sell between 60,000 to 70,000 tons per month, CanAm noted. This represents a substantial increase from average actual first quarter and second quarter sales of approximately 50,000 and 56,000, respectively.

Total sales for the third quarter 2013 to date were 133,000 tons compared to 103,000 tons in the comparable prior year, or an increase of 30,000 tons or almost 30%.

CanAm Coal President and CEO Jos De Smedt said: “We are extremely pleased with our August performance and we are increasingly confident that we can maintain this pace for the remainder of 2013 and into 2014. With steady state and consistent production at our mines, we are now looking to optimize our cost structure and drive operational efficiencies across all of our mines.”

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.