Continental Coal advances on high production update

Shares in AIM-listed Continental Coal lifted on Thursday after the South African thermal coal producer unveiled details of its latest mining activities.

Shares in AIM-listed Continental Coal lifted on Thursday after the South African thermal coal producer unveiled details of its latest mining activities.

Underground coal mining activities at the Penumbra Coal Mine accelerated in February as the company increased monthly run-of-mill (ROM) production. This followed the commissioning of the second Joy 14HM15 Continuous Miner underground in February and as more coal panels were developed.

The company reported that underground production in February 2013 was approximately 27,311 tonnes, a 93% increase on January 2013 monthly underground production of 14,031 tonnes.

ROM coal production of 19,352 tonnes was achieved for the month, an 81% increase on ROM coal production of 10,716 tonnes achieved in January 2013.

Mine operations at the Ferreira Coal Mine continued to perform strongly in February 2013 following the establishment of new opencast mining operations in the adjacent and adjoining Prospecting Rights in the December 2012 quarter.

ROM production at the Vlakvarkfontein Coal Mine in February 2013 of 143,872 tonnes, exceeded budget by 31% and was a 39% month-on-month increase on ROM coal production in January 2013 of 103,751 tonnes.

Continental Coal's share price was up 3.70% to 3.50p at 12:32 on Thursday.

MF

Recommended

Get healthy returns from these three healthcare stocks
Share tips

Get healthy returns from these three healthcare stocks

Professional investor Paul Major of the BB Healthcare Trust highlights three of his favourite healthcare stocks.
25 Oct 2021
Share tips of the week – 22 October
Share tips

Share tips of the week – 22 October

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
22 Oct 2021
Three dividend stocks from the dynamic Asia/Pacific region
Share tips

Three dividend stocks from the dynamic Asia/Pacific region

Professional investor Sat Duhra of the Henderson Far East Income investment trust highlights three of his favourite stocks.
18 Oct 2021
Share tips of the week – 15 October
Share tips

Share tips of the week – 15 October

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
15 Oct 2021

Most Popular

Properties for sale for around £1m
Houses for sale

Properties for sale for around £1m

From a stone-built farmhouse in the Snowdonia National Park, to a Victorian terraced house close to London’s Regent’s Canal, eight of the best propert…
15 Oct 2021
How to invest as we move to a hydrogen economy
Energy

How to invest as we move to a hydrogen economy

The government has started to roll out its plans for switching us over from fossil fuels to hydrogen and renewable energy. Should investors buy in? St…
8 Oct 2021
Emerging markets: the Brics never lived up to their promise – but is now the time to buy?
Emerging markets

Emerging markets: the Brics never lived up to their promise – but is now the time to buy?

Twenty years ago hopes were high for Brazil, Russia, India and China – the “Brics” emerging-market economies. But only China has beaten expectations. …
18 Oct 2021