Business
MET Coal Update
MET Coal Update.
About this update from Corcel Plc
[{"type":"text","content":"\n \nRNS Number : 6854I Regency Mines PLC 28 November 2018 \n\nRegency Mines Plc\n(\"Regency\" or \"the Company\")\n \nMET Coal Update\n \n \n28 November 2018\n \nRegency Mines Plc, the natural resource exploration and development company with interests in hydrocarbons and battery metals, provides an update on progress at its 47% owned associate Mining Equity Trust LLC (\"MET\").\nOctober sales of coal amounted to 43,530 tons for revenues of $2,015,816. This compares with 44,020 tons of coal in September for total revenues of $1,959,036.\nOne of the two highwall miners has been relocated and reassembled this month at a new location, Kilgore, that is closer to the main customer and where it can operate for up to 20 months and has the capability to work two shifts. This was a planned move that should increase both production levels and profitability.\nThe other highwall miner is currently operating on a single shift as it completes mining of the reserve base at the Mudlick location. Once the current reserves have been exhausted at Mudlick, which is anticipated to occur in late 2018 or early 2019, the machine will be moved to one of two available sites.\nFollowing these moves, production tonnages are expected to increase significantly. \n \nThis announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.\nFor further information contact:\nAndrew Bell 0207 747 9960 Chairman Regency Mines Plc\nScott Kaintz 0207 747 9960 Executive Director Regency Mines Plc\nRoland Cornish/Rosalind Hill Abrahams 0207 628 3396 NOMAD Beaumont Cornish Limited\nJason Robertson 020 7...