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Pin to quick picksAtlantic Coal Share News (ATC)

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Atlantic Coal swings to profit in first half

Thu, 26th Sep 2013 10:43

Atlantic Coal swung to a profit in the first half on the back of an increase in production and tighter cost control.The coal miner reported a net profit of $2.4m, compared to a loss of $1.3m last year.Clean coal production rose 37.4% to 81,965 tonnes, up from the prior year's 59,642 tonnes.The company achieved cost savings at operations at the Stockton mine which mitigated against the effects of falling prices. An independent audit confirmed a 29% increase in clean coal reserves at Stockton to 1.77 m tonnes.During the period the group completed its lease of the 410-acre Pott and Bannon mine in Pennsylvania. The site is expected to have extensive reserves and is located about 25 miles from Stockton."This has been an exciting period with the Pott and Bannon site being brought into our Pennsylvania anthracite portfolio and having achieved substantially increased production compared with the first half in 2012," said Managing Director Steve Best."This has been against a background of falling prices and demand compared with last year but our flexible approach to operations at the Stockton Mine and continuing rigorous review of operations has enabled us to produce a healthy net profit."Shares surged 88% to 0.24p at 11:22 on Thursday.RD
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4 Nov 2013 11:19

Atlantic Coal Shares Jump 14% On Increased Coal Sales

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23 Oct 2013 16:29

SThree Asian Pacific director sells 74,176 shares

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22 Oct 2013 14:39

CORRECT: DIRECTOR DEALINGS: Atlantic Coal Managing Director Buys 7.3 Million Shares

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22 Oct 2013 13:36

DIRECTOR DEALINGS: Atlantic Coal Managing Director Buys 7.3 Million Shares

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26 Sep 2013 16:24

MARKET COMMENT: TUI Travel Flies, Thomas Cook Dives And UK Shares End Mixed

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26 Sep 2013 11:55

UK WINNERS & LOSERS: Travel Operators Head In Different Directions

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26 Sep 2013 07:54

Atlantic Coal Shares Boosted On Swing To Profit, Higher Production

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19 Sep 2013 12:28

DIRECTOR DEALINGS: Atlantic Coal Says Non-Executive Director Transfers Shares

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11 Jun 2013 10:30

Atlantic Coal soars on significant increase in coal reserve base

Atlantic Coal, the AIM-listed, US-focused anthracite coal mining company, has announced a 29 per cent increase in its clean coal reserve base to 1.78m tonnes from 1.38m tonnes, at the Stockton anthracite mine located near Hazleton, Pennsylvania. The company estimated that this would extend the lif

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2 Apr 2013 10:16

Atlantic Coal shares slide after option update

Shares in AIM-listed listed anthracite coal mining company Atlantic Coal slid slightly on Tuesday, the same day that the company announced an update in relation to an option agreement to acquire additional anthracite mining assets in Pennsylvania. The option - which is exercisable at the company's

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21 Jan 2013 09:17

Atlantic Coal exercises option over mining site in Pennsylvania

Atlantic Coal, an AIM-listed coal production company, has exercised its lease option over the fully permitted 410 acre Pott & Bannon anthracite mining property in Pennsylvania, US. As such, the group will pay $6.0m in cash, coal and shares to Reading Anthracite Company, in addition to warrants ove

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27 Sep 2012 16:38

London close: Back in the blue ... just

Having briefly broken above 5800 shortly after the start of trading, on the back of news of stimulus measures in China, the top share index move into negative territory in the afternoon session, before rallying near the close. The stock market is not the only thing back in the blue It was revealed

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27 Sep 2012 13:53

Losses widen at Atlantic Coal

Atlantic Coal, an AIM-listed open cast coal production and processing company, saw a widening of half year losses after exceptional expenses and rising administrative expenses offset a 79 per cent leap in gross profit. Consequently, the loss from ordinary activities before tax widened from $1.05m

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