Pacific Coal Resources Ltd. announces Q3 2013 operational update

About this update from Canter Resources Corp

[{"type":"text","content":"\n\n\nTORONTO, Oct. 15, 2013 /CNW/ - Pacific Coal Resources Ltd. (TSXV: PAK)\n provides an operational update on its third quarter 2013 production at\n the La Caypa and Cerro Largo mines.\n\n\nHernan Martinez, Executive Chairman, commented: \"The production\n improvements noted in the first half of the year continued as the\n Company produced 395,499 tonnes of coal in the third quarter of 2013. \n This was consistent with the 398,865 tonnes produced in the second\n quarter of 2013 and represents a 27% increase over the quarterly\n average in the first half of 2013. We also continue to make important\n progress with the development of La Caypa's south pit. The Company\n remains committed to expanding its margins and reducing its costs on a\n per tonne basis.\"\n\n\nQ3 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\n315,933\n\n\n2,444,648\n\n\n7.74:1\n\n\nSouth Pit\n\n\n-\n\n\n916,406\n\n\nN/A\n\n\nTotal\n\n\n315,933\n\n\n3,361,054\n\n\n10.64:1\n\n\n(1) Bank cubic meters\n\n\nDuring the third quarter of 2013, the Company produced 315,933 tonnes at\n La Caypa, 105% of its planned production and consistent with the\n production of 320,436 tonnes in the second quarter of 2013 (which\n represented the highest production at the mine since the first quarter\n of 2011). The positive results can be attributed to the proficiency of\n the Company's new management and their La Caypa team. Operational\n stripping ratios at La Caypa also continued to improve, from 8.02 in\n the second quarter of 2013 to 7.74 in the third quarter of 2013 (3%\n decrease).\n\n\nGiven that La Caypa produced 755,349 tonnes of coal in the first nine\n months of 2013, including the limited production in the first quarter\n as the new operator ramped-up, the Company is in-line to meet the\n anticipated production target of 1.0 million tonnes at La Caypa in\n 2013.  This would represent a 12% production increase from 2012.\n\n\nQ3 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\n79,566\n\n\n910,694\n\n\n11.45:1\n\n\n\n\n\nIn the three months ended September 30, 2013, coal production at the\n Cerro Largo mine was 79,566 tonnes, which was below planned production\n for the quarter.&...

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