Interesting Calgary Herald article exerpt
Thanks Metnews.
For the three months ended June 30, Grande Cache Coal reported netincome of $7.2 million and profit from operations of $10.4 million oncoal sales volumes of 390,000 tonnes, versus 450,000 tonnes in the sameperiod of 2010.
Metallurgical coal accounted for approximately 84 per cent of the total sales volume with the remainder being thermal coal.
Revenuewas $80 million, compared to $69 million in the comparable period of2010 and the average sales price of metallurgical coal during thequarter was $220 per tonne, up from $158 per tonne due to highercontract price settlements.
In its quarterly news release inAugust, Grande Cache Coal said it expects benchmark metallurgical coalprices to fall from $315 US per tonne to between $255 and $265 US pertonne this year. The price includes shipments contracted at annualprices and trial shipments to potential new customers.