CanAm forecasts 2014 sales of between 750,000 to 900,000 tons
19 February 2014 - 12:30AM
Access Wire
Calgary, AB - February 18, 2014 - CanAm Coal Corp. (TSXV: COE)
("CanAm" or the "Company") is pleased to provide an update on sales
volumes, contracting and pricing for the fiscal year ending
December 31, 2014.
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The Company is estimating 2014 coal sales of between 750,000 to
900,000 tons, an increase of 10 to 32% over 2013. 95% of forecasted
sales volumes are contracted for, mostly as part of 3 or 5-year
off-take contracts. The Company is pursuing other short term sales
opportunities in the domestic and export markets. 2014 pricing is
substantially unchanged from 2013 for the majority of contracted
volumes.
"We are very excited about the Company's positioning for 2014.
We anticipate another year of double digit sales growth. As well,
substantially all of this production is sold at premium pricing
because of the high quality of our coal and the markets we serve.
With 95% of our production sold, we can now continue to focus on
further cost improvement opportunities, expanding our reserve base
and identifying and reviewing further opportunities for growth."
said Jos De Smedt, President & CEO.
About CanAm Coal Corp.
CanAm is a coal producer and development company focused on
growth through the acquisition, exploration and development of coal
resources. CanAm's main activities and assets include its four
operating coal mines in Alabama and the Buick Coal Project which
holds significant coal resources, 188 million indicated and 103
million inferred resources, in Colorado, USA (see the technical
report entitled "Limon Lignite Project, Elbert County, Colorado,
USA," dated October 26, 2007 and filed on SEDAR on November 2,
2007). Other coal and related opportunities continue to be
evaluated on an ongoing basis.
For Further Information:
CanAm Corporate Office:
Jos De Smedt, President & CEO
Tel: 403.262.3797
Toll Free: 1.877.262.5888
Email: jdesmedt@canamcoal.com
Neither the 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.
Forward-Looking Information and Statements
This press release contains certain forward-looking statements
and forward-looking information (collectively referred to herein as
"forward-looking statements") within the meaning of applicable
Canadian securities laws. All statements other than statements of
present or historical fact are forward-looking statements.
Forward-looking statements are often, but not always, identified by
the use of words such as "could", "should", "can", "anticipate",
"estimate", "expect", "believe", "will", "may", "project",
"budget", "plan", "sustain", "continues", "strategy", "forecast",
"potential", "projects", "grow", "take advantage", "well
positioned" or similar words suggesting future outcomes. In
particular, this press release contains forward-looking statements
relating to future production at the RAC Mining LLC ("RAC") and
Birmingham Coal & Coke ("BCC") mines. This forward looking
information is based on management's estimates considering typical
strip mining operations, equipment requirements and availability
and typical permitting timelines.
In addition, forward-looking statements regarding the Company
are based on certain key expectations and assumptions of the
Company concerning anticipated financial performance, business
prospects, strategies, the sufficiency of budgeted capital
expenditures in carrying out planned activities, the availability
and cost of services, the ability to obtain financing on acceptable
terms, the actual results of exploration projects being equivalent
to or better than estimated results in technical reports or prior
exploration results, and future costs and expenses being based on
historical costs and expenses, adjusted for inflation, all of which
are subject to change based on market conditions and potential
timing delays. Although management of the Company consider these
assumptions to be reasonable based on information currently
available to them, these assumptions may prove to be incorrect.
By their very nature, forward-looking statements involve
inherent risks and uncertainties (both general and specific) and
risks that forward-looking statements will not be achieved. Undue
reliance should not be placed on forward-looking statements, as a
number of important factors could cause the actual results to
differ materially from the Company's beliefs, plans, objectives and
expectations, including, among other things: general economic and
market factors, including business competition, changes in
government regulations or in tax laws; the early stage development
of the Company and its projects; general political and social
uncertainties; commodity prices; the actual results of current
exploration and development or operational activities; changes in
project parameters as plans continue to be refined; accidents and
other risks inherent in the mining industry; lack of insurance;
delay or failure to receive board or regulatory approvals; changes
in legislation, including environmental legislation, affecting the
Company; timing and availability of external financing on
acceptable terms; conclusions of economic evaluations; and lack of
qualified, skilled labour or loss of key individuals. These factors
should not be considered exhaustive. Many of these risk factors are
beyond the Company's control and each contributes to the
possibility that the forward-looking statements will not occur or
that actual results, performance or achievements may differ
materially from those expressed or implied by such statements. The
impact of any one risk, uncertainty or factor on a particular
forward-looking statement is not determinable with certainty as
these risks, uncertainties and factors are interdependent and
management's future course of action depends upon the Company's
assessment of all information available at that time.
Forward-looking statements in respect of the future production
of the RAC and BCC mines may be considered a financial outlook.
These forward-looking statements were approved by management of the
Company on February 6, 2014. The purpose of this information is to
provide an operational update on the company's activities and
strategies and this information may not be appropriate for other
purposes.
The forward-looking statements contained herein are expressly
qualified in their entirety by this cautionary statement. The
forward-looking statements included in this press release are made
as of the date of this press release and the Company does not
undertake and is not obligated to publicly update such
forward-looking statements to reflect new information, subsequent
events or otherwise unless so required by applicable securities
laws.
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