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Production Update

18 Apr 2012 12:30

RNS Number : 5953B
Atlantic Coal PLC
18 April 2012
 



Atlantic Coal plc / Index: AIM / Epic: ATC / Sector: Mining

18 April 2012

Atlantic Coal plc ("Atlantic" or the "Company")

Production Update

 

Atlantic Coal plc, the AIM listed open cast coal production and processing company with activities in Pennsylvania, USA, is pleased to announce a production update for the three months ended 31 March 2011 from the Stockton Colliery ("Stockton"), its opencast anthracite operation in Pennsylvania.

 

Production at Stockton increased 12% to 31,729 tons of clean coal during Q1 2012 compared to the equivalent period in 2011 (Q1 2011: 28,376). During the period Atlantic removed 715,691 bank cubic yards ("BCY") of overburden (Q1 2011: 658,785). 85,911 tons of run of mine coal was washed (Q1 2011: 62,000). 

 

Demand for Stockton's high quality anthracite remains strong with production from Pennsylvanian anthracite mines struggling to meet demand. As a result there has been a substantial increase in the average sale price of Pennsylvanian anthracite with a Q1 2012 average price of $166.30 per ton compared with a Q1 2011 price of $134.25, an increase of approximately 24%.

 

Production Summary:

 

Run-of-mine washed (tons)

Overburden

Removed (bank cubic yards)

Clean Coal Production

(tons)

Average

Price per ton (US$)

85,911

715,691

31,729

166.30

 

Atlantic Managing Director, Steve Best, said, "I am pleased to report that production at Stockton during the first quarter of 2012 has been steady and that we have experienced an increase in comparison to Q1 2011. As announced earlier today, the railroad diversion is now complete allowing the working of over approximately 1.0 million tons of coal of previously unworkable reserves, which will enable us to increase production at the mine over the coming months."

 

**ENDS**

 

For further information on the Company, visit www.atlanticcoal.com or contact:

 

Steve Best

Atlantic Coal plc

Tel: 020 3328 5670

Nick Naylor 

Allenby Capital Limited

Tel: 020 3328 5656

Mark Connelly

Allenby Capital Limited

Tel: 020 3328 5656

Simon Leathers

Fox-Davies Capital Limited

Tel: 020 3463 5010

Andy Frangos

Cornhill Capital Ltd

Tel: 020 7710 9618

Hugo de Salis

St Brides Media & Finance Ltd

Tel: 020 7236 1177

Elisabeth Cowell

St Brides Media & Finance Ltd

Tel: 020 7236 1177

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCLLFLLSFITLIF
Date   Source Headline
15th Feb 201210:35 amRNSStatement re press speculation
24th Jan 20129:30 amRNS2011 Production Update
9th Jan 20127:00 amRNSUpdate on option to lease an anthracite property
3rd Jan 20127:00 amRNSOption with Reading Anthracite over 410 acre Site
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23rd Aug 20117:00 amRNSInterim Results
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5th Jul 20117:00 amRNSAppointment of Non-executive Director
30th Jun 20113:30 pmRNSResult of AGM
30th Jun 20117:05 amRNSAGM Statement
30th Jun 20117:00 amRNSFull redemption of Mayford loan
15th Jun 20117:00 amRNSAppointment of Project Development Officer
8th Jun 20114:10 pmRNSUpdate re. Anthracite Property in Pennsylvania
8th Jun 20112:15 pmRNSCorrection - Preliminary Results and Notice of AGM
8th Jun 20117:00 amRNSPreliminary Results and Notice of AGM
13th Apr 20117:00 amRNSNew Equipment to Boost Coal Production in US
7th Apr 201110:00 amRNSProduction update
1st Apr 20117:00 amRNSTotal Voting Rights
14th Mar 20117:00 amRNSOption to Acquire Anthracite Property
3rd Mar 201110:40 amRNSResult of General Meeting
23rd Feb 20119:00 amRNSHolding(s) in Company
14th Feb 201111:30 amRNSHolding(s) in Company
14th Feb 20117:00 amRNSPlacing of £12.0m, Issue of Equity and GM Notice
7th Feb 20117:00 amRNSIssue of Equity
2nd Feb 20117:00 amRNSIssue of Equity
1st Feb 20118:01 amRNSTotal Voting Rights
26th Jan 201111:15 amRNSLoan Conversion and Issue of Equity
24th Jan 201111:00 amRNSHolding(s) in Company
24th Jan 201111:00 amRNSHolding(s) in Company
19th Jan 20114:40 pmRNSExercise of warrants and Issue of Equity
18th Jan 20111:30 pmRNSDirector Dealings and Exercise of Warrants
17th Jan 20119:00 amRNSExercise of warrants and Issue of Equity
13th Jan 20117:00 amRNSIssue of Equity
4th Jan 201110:00 amRNSCorrection - Blackrock Investment
4th Jan 20117:00 amRNSBlackrock Investment
2nd Dec 20107:00 amRNSDirector's Interest
1st Nov 20104:00 pmRNSDirector/PDMR Shareholding
27th Oct 20107:00 amRNSDirectorate Change
27th Oct 20107:00 amRNSDirectorate Change
27th Sep 20107:10 amRNSInterim Results
27th Sep 20107:00 amRNSBoard Appointment
31st Aug 20101:00 pmRNSRefinancing of convertible loan note and placing
20th Aug 20106:15 pmRNSHolding(s) in Company
20th Aug 20103:20 pmRNSHolding(s) in Company
5th Aug 20107:00 amRNSIssue of Equity
30th Jun 201010:25 amRNSResult of AGM
7th Jun 201012:00 pmRNSNotice of AGM
27th May 20107:00 amRNSPreliminary results
26th Apr 20107:00 amRNSNew excavator to increase production capacity

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