Pacific Coal Resources Ltd. announces second quarter 2013 financial results

About this update from Canter Resources Corp

[{"type":"text","content":"\n\n\nTORONTO, Aug. 29, 2013 /CNW/ - Pacific Coal Resources Ltd. (TSXV: PAK)\n has filed its unaudited interim condensed consolidated financial\n statements for three months ended June 30, 2013, together with its\n management's discussion and analysis (\"MD&A\") for the corresponding\n period. All financial figures contained herein are expressed in U.S.\n dollars unless otherwise noted. These documents will be posted on the\n Company's website at www.pacificcoal.ca and under the Company's profile at www.sedar.com.\n\n\nHernan Martinez, Executive Chairman, commented: '\"The second quarter of\n 2013 delivered tangible results of the Company's strategic overhaul in\n the form of several milestones, including the highest quarterly\n production at La Caypa and the first positive adjusted EBITDA since\n incorporation.  The Company also continued to cut costs, recording a\n quarterly G&A expense less than the forecast for the second quarter in\n a row. We are extremely pleased with the Company's progress and look\n forward to even better results in the future.\"\n\n\nFinancial and Operating Summary\n\n\nA summary of the financial and operating results for the second quarter\n of 2013 is as follows:\n\n\n\n\n\n \n\n\n Second Quarter\n\n\n(000's except per share and operating data)\n\n\n2013\n\n\n2012\n\n\n \n\n\n \n\n\n \n\n\nOperational\n\n\n \n\n\n \n\n\nTonnes of coal produced\n\n\n398,865\n\n\n335,008\n\n\nAverage stripping ratio - operations\n\n\n8.28:1\n\n\n9.60:1\n\n\nTonnes of coal sold\n\n\n349,818\n\n\n338,775\n\n\nAverage realized price per tonne sold\n\n\n $        106.05\n\n\n $           98.93\n\n\nOperating margin per tonne sold(1)\n\n$          13.60\n\n\n$        (12.42)\n\n\n \n\n\n \n\n\n \n\n\nFinancial\n\n\n \n\n\n \n\n\nRevenues\n\n\n$       37,100\n\n\n$        35,197\n\n\nGross margin(1)\n\n2,651\n\n\n(7,271)\n\n\nAdjusted EBITDA(1)\n\n3,112\n\n\n(8,217)\n\n\nEarnings from operations\n\n\n413\n\n\n(49,635)\n\n\nNet earnings (loss) attributed to shareholders\n\n\n2,051\n\n\n(37,577)\n\n\nBasic and fully diluted (loss) ear...

More updates from Canter Resources Corp