Pacific Coal Resources Ltd. Announces 2014 Second Quarter Financial Results and Operational Update

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[{"type":"text","content":"\n\n\n\nTORONTO, Aug. 29, 2014 /CNW/ - Pacific Coal Resources Ltd. (TSXV: PAK)\n has filed its unaudited consolidated financial statements for the three\n months ended June 30, 2014, together with its management's discussion\n and analysis (\"MD&A\") for the corresponding period. All financial\n figures contained herein are expressed in U.S. dollars unless otherwise\n noted. These documents will be posted on the Company's website at www.pacificcoal.ca and under the Company's profile at www.sedar.com.\n\n\nHernan Martinez, Executive Chairman, commented: \"In the second quarter\n of 2014, we were able to maintain year to date general and\n administrative expenses below forecasted amounts and further ramp up\n south pit production at La Caypa. We are also currently negotiating a\n joint venture at Cerro Largo that is expected to provide the Company\n with a steady cash flow. We aim to further develop the south pit at La\n Caypa to maximize its coal production and strengthen our focus on core\n assets by disposing off the remaining interest in the Barranquilla\n port.\"\n\n\nFinancial and Operating Summary\n\n\nA summary of the financial and operating results for the second quarter\n of 2014 is as follows:\n\n\n\n\n(000's except per share and operating data)\n\n\nSecond Quarter\n\n\n\n\n2014\n\n\n2013\n\n\n\n\nOperational\n\n\n \n\n\n \n\n\n\n\nTonnes of coal produced(1)\n\n\n279,593\n\n\n398,865\n\n\n\n\nAverage stripping ratio - operations\n\n\n14.09:1\n\n\n8.28:1\n\n\n\n\nTonnes of coal sold\n\n\n229,276\n\n\n349,818\n\n\n\n\nAverage realized thermal coal price per tonne sold (2)\n\n\n$                  95.39\n\n\n$              106.05\n\n\n\n\nOperating margin per tonne sold (2)\n\n\n$               (14.91)\n\n\n$                13.60\n\n\n\n\n \n\n\n \n\n\n \n\n\n\n\nFinancial\n\n\n \n\n\n \n\n\n\n\nRevenues\n\n\n$                22,289\n\n\n$              37,100\n\n\...

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