Forbes & Manhattan Coal ROM Production Falls 40 Percent in Q3

Forbes & Manhattan Coal Corp. (TSX:FMC) announced its financial results for Q3 2012.

As quoted the press release:

  • Total run of mine (ROM) production from all operations for Q3 2013 was 246,000 tonnes, a 40% decrease compared to 415,000 tonnes produced in Q2 2013.
  • Magdalena ROM production was 184,000 tonnes, a 35% decrease over Q2 2013 production of 284,000 tonnes.
  • Aviemore run of mine production was 62,000 tonnes, a 53% decrease over Q2 2013 of 131,000 tonnes.

Forbes’ President and CEO, Stephan Theron, said:

Third quarter results reflect the four and a half week labour disruption this past November in addition to the challenging international coal market. The company has resumed operating at full production and taking into consideration the seasonal December closure, we are pleased to see the quick ramp up and momentum we have achieved in the weeks since. At a high level, our year to date run of mine tonnes has surpassed the same period in FY2012. Our continued commitment to achieving growth is our priority.

To view the whole press release, click here.