Royal Coal Corp. Purchases Charlene Rail Load Out Facility
15.08.2011 | Marketwire
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES. TORONTO, ONTARIO -- (Marketwire[ - Aug. 15, 2011) - Royal Coal Corp. ("Royal Coal" or the "Company") (TSX VENTURE: RDA) (FRANKFURT: RLC) announces that it has acquired the Charlene rail load-out facility (the "Charlene Load Out"), which was previously leased by the Company since October 2009. The Charlene Load Out is located on the CSX Railway and is proximate to the Company's Big Branch Mine in Eastern Kentucky, enabling access to utility and industrial markets. The loadout is a 4-hr. fast-load batch weigh facility, has 68,000 tons of storage capacity, and has a stokering facility which allows access to the premium-priced industrial market.
"Having ownership of the Charlene Load Out ensures that Royal Coal will be able to get production from our Big Branch Mine and other licenses within the region to our utility and industrial customers efficiently" said Mr. Tom Griffis, Chairman of Royal Coal.
Throughput capacity at the facility is in excess of 2.5 million tons per year. The total purchase price for the Charlene Load Out was US$5.5 million.
About Royal Coal
Royal Coal is a coal exploration and production company, headquartered in Toronto, Ontario, Canada with a regional office in Hazard, Kentucky, U.S.A. whose primary business focus is developing producing surface coal mining operations in the Central Appalachian coal producing region of the United States, which includes parts of West Virginia, Virginia, Kentucky, Ohio, and Tennessee.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information
Royal Coal Corp.
Tom Griffis, Chairman of Royal Coal
(416) 861-8775
www.royalcoal.com
Royal Coal Corp.
Richard Buzbuzian, Investor Relations
(647) 501-3290