RE: RE: RE: RE: RE: RE: Frustrating rumbanter wrote: it sold off because they are delaying and reducing production forecast for the second time.
My counting might be wrong but I think this reduction in production forecast is the third time not the second:
January 20, 2011: Cline looks forward to working with Mr. Casey on the sale and marketing of metallurgical coal from its New Elk Coal Mine located in Las Animas County, Colorado, U.S.A., which is expected to reach a rate of production of 3 million tons per annum by the end of 2011
May 16, 2011: New Elk saleable metallurgical coal production will continue to ramp up in 2011 and is projected to reach a production level of 2.75 million tons in 2012
January 5, 2012 (less than 2 months ago) Saleable coal production during calendar year 2012 is projected at 2.5 million tons, with production in the years 2013 and annually thereafter at the rate of 3.0 million tons.
February 28, 2012 (today): Total saleable clean coal production in 2012 is now projected at 1.7 million tons of saleable clean coal, reduced from the previous estimate of 2.5 million tons as a result of not unusual start-up complications in the plant and the mine, now substantially overcome, and unanticipated delays in regulatory approvals, now fully received.