NOVADX UPDATE...........
Novadx Announces Full Commercial Production at Rosa Mine
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 19, 2012) - Novadx Ventures Corp. (TSX VENTURE:NDX) -
Highlights:
- Full commercial production reached in December 2011.
- Net revenues of ~$2M after payment of Sandstorm coal stream.
- Higher contract prices negotiated for 2012 coal production
https://www.marketwire.com/press-release/novadx-announces-full-commercial-production-at-rosa-mine-tsx-venture-ndx-1608587.htm
Novadx Ventures Corp. ("Novadx" or the "Company") is pleased to announce that during December 2011, the Company moved to full commercial production at the Rosa Mine.
Since the commencement of full production in December, the wash plant at the Rosa Mine has produced approximately 13,800 tons of coal, which were sold at an average price of $166 per ton to customers in the coking coal and activated carbon industries. Total coal sales over this period were approximately $2.3 million yielding net revenues for coal sales of approximately $2 million to Novadx after payment relating to the Sandstorm Metals and Energy Ltd. coal stream agreement.
Novadx CEO Neil MacDonald commented, "We are pleased that the Rosa Mine and wash plant are beginning to operate at our commercial production target of 120,000 tons per year of clean coal. As we expected, our Rosa wash plant is producing a high quality product and we have recently negotiated higher contract prices for our coal in 2012. Accordingly, we anticipate our average selling price moving towards $180 per ton in this calendar quarter. We are continuing to look for ways to improve mine and wash plant efficiencies with the goal of exceeding our targets."
more at above link...............