Pacific Coal Resources Ltd. announces Q2 2013 operational update

About this update from Canter Resources Corp

[{"type":"text","content":"\n\n\nTORONTO, July 18, 2013 /CNW/ - Pacific Coal Resources Ltd. (TSXV: PAK)\n today provided an operational update on its second quarter 2013\n production at its La Caypa and Cerro Largo mines.\n\n\nHernan Martinez, Executive Chairman, commented: \"We made good progress\n with regard to the Company's production during the second quarter of\n 2013, producing 398,865 tonnes of coal.  This represents a 79% increase\n over the first quarter of 2013 and a 26% increase over the 2012\n quarterly average. We have also made important progress with the\n development work at La Caypa's south pit. The Company remains committed\n to expanding its margins and reducing its costs on a per tonne basis.\"\n\n\nQ2 2013 production at La Caypa \n\n\n \n\n\nProduction of Coal\n(metric tonnes)\n\n\nWaste\n(bcm)(1)\n\nStripping Ratio\n\n\nMain Pit\n\n\n320,436\n\n\n2,570,805\n\n\n8.02:1\n\n\nSouth Pit\n\n\n-\n\n\n1,490,721\n\n\nN/A\n\n\nTotal\n\n\n320,436\n\n\n4,061,526\n\n\n12.67:1\n\n\n(1) Bank cubic meters\n\n\nDuring the second quarter of 2013, the Company produced 320,436 tonnes\n at La Caypa, 111% of its planned production.  This represents the\n highest production at the mine since the first quarter of 2011 and a\n 169% increase from the 118,980 tonnes produced in the first quarter of\n 2013.  The increase can be attributed to the positive results of the\n collaboration between the Company's La Caypa team and the mine's new\n operator, who completed their first full quarter of operations.\n Operational stripping ratios at La Caypa also improved from the first\n to second quarter of 2013 (from 8.57:1 to 8.02:1, a 6% decrease).\n\n\nGiven that La Caypa produced 439,416 tonnes of coal in the first half of\n 2013, including the limited production in the first quarter of 2013 as\n the new operator ramped-up, the Company continues to anticipate\n production of 1.0 million tonnes at La Caypa in 2013.  This would\n represent a 12% production increase from 2012.\n\n\nQ2 2013 production at Cerro Largo\n\n\n \n\n\nProduction of Coal\n(metric tonnes)\n\n\nWaste\n(bcm)\n\n\nStripping Ratio\n\n\nTotal\n\n\n78,429\n\n\n733,167\n\n\n9.35:1\n\n\n\n\nIn the three months ended June 30, 2013, coal production at the Cerro\n Largo mine was 78,429 tonnes, which was below planned production for\n the quarter.  Production was limited ...

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