Forbes & Manhattan Losing Ground in Materials Slump; Coal Miner Posts 235% Jump in Tons Sold

By Midnight Trader,  December 08, 2011, 02:12:43 PM EDT

Forbes & Manhattan Corp. (FMC.TO) is down about 3.3% in very light volume this afternoon and the coal miner reporting that total saleable production at the Magdalena bituminous and Aviemore anthracite operations rose 13% sequentially during Q3 of fiscal 2012 compared with the prior quarter.

Total sales were 320,200 tons, representing a 235% year-over-year increase from the 95,600 tons sold during the September to November quarter last year. Roughly three-fifths of the Q3 production was sent overseas, with export sales totalling 188,200 tons and domestic sales of 132,000 tons.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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