Royal Coal Reports Coal Sales and Coal Sale Price Increases Highlights:- Increase in Q4 coal sales contracts- Increase to the average sale price per ton of coal sold to $76.44 per ton- End of lower priced legacy contacts
20.09.2011 | 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.Highlights:
- Increase in Q4 coal sales contracts
- Increase to the average sale price per ton of coal sold to $76.44 per ton
- End of lower priced legacy contacts
TORONTO, ONTARIO -- (Marketwire) -- 09/20/11 -- Royal Coal Corp. ('Royal Coal') (TSX VENTURE: RDA) (FRANKFURT: RLC) is pleased is pleased to announce that it has secured coal sales contracts for 122,600 tons during Q4 at an average sale price of $76.44 per ton. This represents an increase of approximately 21% over prices to date in 2011 and this average price includes the allocation of 18% of all sales to Sandstorm Metals & Energy at $55 per ton. Additional sales for Q4 are expected to be in line with these contracts.
'Over the past six months the company has been focused on improving its operating margins by decreasing operating costs and improving sales prices. With the end of the legacy contracts for 2011 and improved prices for the balance of the year we are making progress towards achieving a profitable operation' commented Tom Griffis, Chairman of Royal Coal.
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.
Contacts:
Royal Coal Corp.
Tom Griffis, Chairman
(416) 861-8775
Royal Coal Corp.
Richard Buzbuzian, Investor Relations
(647) 501-3290