Pleasant memories
Makes me want to cry when i read this - oh the joy right before the holidays !!!!
Read while drinking your coke and crown -
Cline Mining shares jump after U.S. mine plan OK
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TORONTO | Fri Dec 24, 2010 1:30pm EST
TORONTO (Reuters) - Cline Mining (CMK.TO) shares jumped 20 percent to hit a record high on Friday, a day after the Canadian coal mining company received U.S. safety approval to begin full mining its New Elk property in Colorado.
The company's shares rose 20.5 percent after the company received approval on Thursday, and rose another 19.6 percent during the Friday session, which ended early ahead of Christmas holidays.
Cline said the approval by the U.S. Mine Safety and Health Administration means it will achieve the targeted start-up of the mine in the fourth quarter of this year. Cline expects the mine's coal production to reach a rate of 3 million tones a year by the end of 2011.
The New Elk mine has a mineral resource estimates of 315 million tones of coal.
The company's shares ended the session up 69 Canadian cents at C$4.21 on the Toronto Stock Exchange on Friday.