Pacific Coal Resources Ltd. announces third quarter 2013 financial results

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[{"type":"text","content":"\n\n\nTORONTO, Nov. 28, 2013 /CNW/ - Pacific Coal Resources Ltd. (TSXV: PAK)\n has filed its unaudited interim condensed consolidated financial\n statements for three months ended September 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 Company continues\n to improve its results; the adjusted EBITDA in the third quarter of\n 2013 was an increase of over 70% from the second quarter of 2013.  The\n adjusted EBITDAs of the last two quarters have been the highest since\n the first quarter of 2011.  The Company also continues to cut costs,\n recording a quarterly G&A expense less than the forecast for the third\n quarter in a row and reducing the 2013 G&A expectation by $1.0 million.\n We are extremely pleased with the Company's progress and look forward\n to even better results in the future.\"\n\n\nFinancial and Operating Summary\n\n\nA summary of the financial and operating results for the third quarter\n of 2013 is as follows:\n\n\n\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\n \n\n\nThird Quarter\n\n\n\n\n(000's except per share and operating data)\n\n\n2013\n\n\n \n\n\n2012\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nOperational\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nTonnes of coal produced\n\n\n \n\n\n395,499\n\n\n \n\n\n \n\n\n341,248\n\n\n\n\nAverage stripping ratio - operations\n\n\n \n\n\n8.48:1\n\n\n \n\n\n \n\n\n11.38:1\n\n\n\n\nTonnes of coal sold\n\n\n \n\n\n356,299\n\n\n \n\n\n \n\n\n366,678\n\n\n\n\nAverage realized price per tonne sold\n\n\n$\n\n\n 102.71\n\n\n \n\n\n$\n\n\n92.53\n\n\n\n\nOperating margin per tonne sold(1)\n\n\n$\n\n\n18.77\n\n\n \n\n\n$\n\n\n (5.76)\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nFinancial\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nRevenues\n\n\n$\n\n\n37,189\n\n\n \n\n...

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