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Corsa Coal Announces 2011 Sales and the Acquisition of Keyser Property; Shares Now At Day Lows

Corsa Coal Corp. (CSO.V) started today's session higher at 50 cents but has now edged off by 1% to 49 cents from yesterday's $0.495 close, touching day lows, following the company's announcement of its 2011 sales and its acquisition of the Keyser Property.

The company said it has sold approximately 252,000 clean tons of metallurgical coal at an average realized price of US$167.00 per clean ton and approximately 142,000 clean tons of thermal coal during the fiscal year ended November 30, 2011. Its outlook for sales of 800,000 to 900,000 clean tons of metallurgical coal in fiscal 2012 has not changed.

Corsa also announced that it has exercised its option to purchase the rights to mine the Lower Kittanning coal seam under approximately 2,300 acres in the Jenner and Conemaugh Townships in Somerset County, Pennsylvania referred to as the Keyser Property.

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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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