Corsa Coal (TSXV: CSO), has lately expanded beyond its operating base in Northern Appalachia, on Sept. 18 released a new investor presentation that has been updated to include information on a recent transaction with Quintana Kopper Glo Investment LLC.
Corsa Coal also said that shareholders voted in favor of all items of business brought before them at the company’s annual and special meeting of shareholders held Sept. 18
At the meeting, the following nine nominees were elected as directors of the company to hold office until the close of the next annual meeting: Corbin Robertson III, John Craig, Alan De’ath, George Dethlefsen, Keith Dyke, Michael Harrison, Robert Scott, Daniel Smith and Ronald Stovash.
On July 31, Quintana Kopper Glo Investment LLC, along with Quintana Energy Partners LP and its affiliated funds, closed a transaction with Corsa Coal. The effect of the transaction is that Wilson Creek Energy LLC, an indirect subsidiary of Corsa Coal, became Quintana Kopper Glo’s’s parent. On completion of the transaction with Corsa, Quintana holds a controlling number of shares in Corsa Coal.
Quintana Kopper Glo is a coal producer with a 55-year operating history based in Knoxville, Tenn. The company, principally through its wholly-owned subsidiaries, Kopper Glo Mining LLC (KGM) and Kopper Glo Fuel (KGF), is engaged in the production and sale of high BTU, low and mid sulfur thermal coal used in power, industrial and specialty applications.
Kopper Glo has six surface projects and five underground projects with an aggregate area of up to approximately 20,104 acres located in Claiborne and Campbell counties in Tenn. The Double Mountain Deep mine is the company’s principal producing mine and the company also conducts surface mining and highwall mining operations at the Log Mountain Mine and the Davis Creek Mine. The Log Mountain and Davis Creek operating surface mines and the Double Mountain Deep Mine have a combined current annualized production rate of approximately 1,132,000 clean tons of coal.
Kopper Glo also has a number of surface and underground possible projects at various stages of development, all of which will require various permits before mining operations could commence. Kopper Glo owns a coal preparation plant which has a capacity of 350 tons per hour of raw coal and is located on a Norfolk Southern rail line (with dual NS and CSX Corp. load-out capability) in Claiborne County. Kopper Glo’s mines, the prep plant and Kopper Glo’s refuse site are all located in close proximity providing for efficient operations.
Corsa’s traditional operations, including the relatively new Wilson Creek prep plant, are located in and around Somerset County, Pa., with a current deep mine in nearby Maryland.