Penny Stocks | Investing Online
Go Back   Penny Stocks | Investing Online > Investing Online > Penny Stocks and Stock Picks
Register Stock Contest FAQ Members List Stock News Calendar Search Today's Posts Mark Forums Read

Penny Stocks and Stock Picks Hot Penny Stocks, Momentum Stocks, News Plays, or Chart Reversals...this is the place to call it and post Stock research for Buying Penny Stocks Online.

Reply
 
LinkBack Thread Tools Search this Thread Display Modes
Old Wed, 04-06-2005, 01:03 AM   #1 (permalink)
pimp2929
 
Join Date: Mar 2005
Posts: 10
pimp2929 has disabled reputation
TSX-V:WTN and AIM: WTN

TSX-V:WTN and AIM: WTN

VANCOUVER, April 5, 2005 /PRNewswire-FirstCall via COMTEX/ --
Western Canadian Coal Corp. (TSX-V: WTN and AIM: WTN) ("WCCC" or the "Company") is pleased to announce that coal price negotiations with the north Asian steel mills have concluded with settlement prices for the Company's low volatile pulverized coal injection (LV-PCI) coal for the contract year commencing April 1, 2005 in excess of US$100 per tonne. These settlements reflect current international coal market prices for premium quality LV-PCI coal.

In addition, the Company's six-year contract for delivery to POSCO of 2.8 million tonnes of coal during the period to POSCO has now been confirmed following the successful trial shipments of LV-PCI coal in the first quarter of calendar 2005.

WCCC's Burnt River LV-PCI coal is exported through Ridley Terminals at Prince Rupert to major steel mills in north Asia including POSCO of South Korea, Baosteel of China, China Steel of Taiwan and four major Japanese steel mills. The Company is also exporting coal to Europe and is expanding its market development activities in both the Asian and Atlantic regions, to meet growing demand for both LV-PCI and hard coking coal.

On March 11, 2005, the Company submitted an application to the BC Ministry of Energy and Mines to amend its Dillon Mine annual production limit from 240,000 tonnes per calendar year to a continuous monthly rate of 80,000 tonnes. The proposed change in mine production rate would not increase the mine disturbance footprint or the total waste mined but would allow the Company to mine out the small deposit at an accelerated rate. Based on approval of the Dillon Mine amendment this quarter, the Company would expect to produce and sell approximately 800,000 tonnes of LV-PCI coal for its fiscal year ended March 31, 2006. This quarter's planned LV-PCI coal exports will include the balance of the trial shipments previously contracted in 2004 as well as new shipments to the Company's customers in Asia at the new contract- year prices.

Given the growing demand for premium quality LV-PCI coal, WCCC is working towards applications for an Environmental Assessment Certificate ("EA Certificate") and mine permit on the proposed adjacent Brule Mine. A Brule Project Description report was submitted to the BC Environmental Assessment Office in January 2005 and the application for the EA Certificate is expected to be submitted by the third quarter of 2005.

Gary K. Livingstone, WCCC's President and CEO, stated "The Company's sales to Asia are now fully committed for the coal year ending March 31, 2006 and the agreed pricing reflects the continued strong demand for LV-PCI coal as well as an acknowledgement by our customers of the premium quality of our product. The amendment for Dillon and the anticipated large mine application for Brule will establish the Company as a significant LV-PCI coal producer
pimp2929 is offline   Reply With Quote
Sponsored Links
Reply



Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Add RSS   Add RSS2   Add to Google   Add to My Yahoo   My MSN RSS
All times are GMT -3.5. The time now is 07:54 AM.


vBulletin, Copyright ©2000 - 2006, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.0.0 RC5 © 2006, Crawlability, Inc.
Copyright © 2005, StockHideout.com, info@stockhideout.com
Clicky Web Analytics

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247 248 249 250 251 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267 268 269 270 271 272 273 274 275 276 277 278