Coal miner gains on Q1 sales news
Calgary-based Grande Cache Coal Corporation (TSX: T.GCE) said Tuesday that sales of 0.51 million tonnes of metallurgical coal in the first quarter of fiscal 2010, driven by a significant increase in spot sales primarily into the Chinese market, represent the largest quarterly sales volumes in the company’s history.
Arctic coal licences approved for Weststar Resources
In breaking news Tuesday, Weststar Resources Corp. (TSX: V.WER) announced that its first series of Arctic coal licences have been approved by the Department of Indian and Northern Affairs.
Coal miner gains on sales contract news
Western Canadian Coal Corp. (TSX:T.WTN) shares climbed 19% to 93 cents Tuesday, as the company announced that it has secured enough sales contracts and prices for the fiscal year ending March 31, 2010 to continue mining operations at the Wolverine operation and Brule mine in northeastern B.C.
Phase 1 initial results in for Alix Resources, Geo Minerals
Shares of Alix Resources (TSX: V.AIX) and Geo Minerals (TSX: V.GM) fell Thursday, after the Vancouver-based companies reported initial results from the recently completed Red Deer Lake Coal Property Phase I drilling program located on the Manitoba-Saskatchewan border.
Western Canadian Coal shares soared
Western Canadian Coal (TSX: T.WTN) shares soared 30% to 57 cents after the miner announced the filing of a revised technical report regarding the Belcourt coal property in British Columbia, which estimates 86 million tonnes of proven reserves of metallurgical coal in two deposits, Belcourt North and Belcourt South; 167 million tonnes of measured (including two million tonnes thermal) and four million tonnes of indicated resources among the two deposits; potential production of four million tonnes per year of saleable clean coal; and 15 years of production from defined reserves on the property.
Junior explorer soars on coal permits acquisition
Geo Minerals (TSX: V.GM) shares jumped 30% to 13 cents on Friday after the micro cap miner and Alix Resources
(TSX: V.AIX ) reported the acquisition of an 80% interest in the "Hudson Bay" property from NuCoal Energy Corp. The Hudson Bay property is comprised of just over 7,000 acres of coal prospecting permits of which the closest boundary is approximately two kilometers from the Goldsource Mines' new Split-Leaf Coal Discovery. Alix shares climbed 17% to 14 cents.
