Corsa Coal Corp. (TSXV:CSO) announced its results for the third quarter of 2012, commenting that it sold 138,000 tons of metallurgical coal at an average realized price of $152 per ton.
Don Charter, Corsa’s president and CEO, commented:
This was an important quarter for Corsa. With the successful production and development ramp up at the Casselman mine and shipping of 138,000 tons of met coal, in line with guidance, we have made significant improvements in our competitive position in this tight market. Cash mining costs at Casselman have been reduced by 36 percent to $51 a ton and processing costs have been reduced by 43 percent to $13. The increased volume with reduced costs resulted in the Company achieving positive cash flow from operations. We continue to actively market our high quality low-vol met coal while improving operating costs.