Atlantic Coal PLC Positive Q1 2013 Production Update (7937B)

TIDMATC

RNS Number : 7937B

Atlantic Coal PLC

08 April 2013

Atlantic Coal plc / Index: AIM / Epic: ATC / Sector: Mining

8 April 2013

Atlantic Coal plc ("Atlantic Coal" or the "Company")

Positive Q1 2013 Production Update

Atlantic Coal plc, the AIM listed anthracite coal mining company operating in Pennsylvania, USA, is pleased to announce a positive production update for the quarter ended 31 March 2013 from its Stockton Anthracite Mine ("Stockton"), located near Hazleton, Pennsylvania.

Q1 2013 Key production and sales fundamentals:

   --    Operational performance continues to improve at Stockton with record production 

-- 67% increase in clean coal produced to 53,131 tons in comparison with Q1 2012 (Q1 2012: 31,729)

   --    91% increase in coal sales to 53,324 tons in comparison with Q1 2012 (Q1 2012: 27,913 tons) 

-- Average sales price of US$139.84 realised (Q1 2012: $166.30) (2012 yearly average of $149.20:) - reflects a softening over the winter months in some US industrial markets

   --    18% increase in overburden removed to 847,434 bank cubic yards ("BCY") (Q1 2012: 715,691) 

Production Summary:

 
 Overburden Removed (BCY)   Clean Coal Production (tons)   Coal Sales (tons)   Average Price (US$/ton) 
         847,434                       53,131                   53,324                 139.84 
 

Atlantic Coal's Managing Director Steve Best said: "As demonstrated by these positive figures for Q1 2013, the production of high quality anthracite at Stockton has consistently increased quarter on quarter, since the completion of the Norfolk Southern Railroad diversion nearly a year ago and the implementation of operational improvements. We are therefore delivering on our strategy of increasing production at Stockton, improving operational performance, and utilising our revised mine plan and personnel to maximise efficiencies, which enables us to look ahead with confidence with regards to the performance of this asset.

"I believe that it is worth noting that we have achieved a number of key milestones over the last 12 months, including sustained production and sales at Stockton and the acquisition of the Pott & Bannon property, which more than trebled our existing reserves. We therefore have a producing asset, significant anthracite resources and a number of highly exciting acquisition targets which we believe will enable us to continue to deliver on our strategy to become a major mid-tier anthracite producer in Pennsylvania."

**ENDS**

For further information on the Company, visit: www.atlanticcoal.com or contact:

 
 Steve Best         Atlantic Coal plc           Tel: [phone] 
 Nick Naylor        Allenby Capital Limited     Tel: [phone] 
 Mark Connelly      Allenby Capital Limited     Tel: [phone] 
 Alex Price         Allenby Capital Limited     Tel: [phone] 
 Elisabeth Cowell   St Brides Media & Finance   Tel: [phone] 
                     Ltd 
 

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