Atlantic Coal does not dig delays – MoneyWeek

Thegroupsaid23,149tonsofrun-of-minecoal(ROM)coalisalsoheldasstock(2010:21,216tons)。

Atlanticmined208,730tonsofROM,whichfellshortagainstatargetedannualproductionof300,000tonsofROMfortheyear。

233,241ROMcoalwaswashed(2010:229,293)whichproduced105,403tonsofcleancoal(2010:88,620)。

Afterexperiencingmechanicalproblemswithanexcavator,thecompanyorderedareplacementand,sincebecomingoperational,thishasalreadyhadapositiveeffectonproduction。

Thefirmanticipatesproductionwillbefurtherenhancedwhenasecondhydraulicexcavatorbecomesoperational,scheduledtobeinthefirstquarterof2012。

Thecompanyalsonotedcertaindelayswhichhaveoccurredinthenegotiationswithoperatorsregardingcommissioningofanewlyconstructedrailroaddiversion,butsaiditisconfidentthatdiscussionswillprogresspositively。

AtlanticManagingDirector,SteveBet,saidproductionshouldrampupthisyear。

BothinitialproductionandsalespricefiguresforJanuary2012looktobealargeimprovementonthoseachievedinJanuary2011,Bestrevealed。

Thesharepricefell6。

33%to0。

37pby12:21。

NR

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