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CanAm Coal Shares Jump Along with Q3 Coal Sales

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Shares of CanAm Coal Corp. (COE.V) jumped 10% to $0.165 from yesterday's $0.15 close, but are just about 5 cents above year lows, after the company announced coal sales for the third quarter ending October 31, 2011.

The company said coal sales were 94,261 tons compared to 11,408 tons in third quarter of fiscal 2011 or an increase of 82,853 tons. Tim Bergen, CEO of CanAm, said: "We are pleased with the progress at our mines and we are continuing to implement and evaluate opportunities to organically grow or expand this production."

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

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