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Corsa Coal Corp Announces Q1 Sales and Increases 2013 Sales Guidance; Fell 18.5% To Near Yr Lows Tuesday

Corsa Coal Corp. (CSO.V), which fell 18.5% to near year lows Tuesday, announced that during the first quarter of fiscal 2013 the company sold 36,000 tons of clean metallurgical coal and 10,000 tons of raw metallurgical coal. As well, the company sold 33,000 tons of thermal coal during the quarter.

In addition, the company announced that it has entered into contracts or received purchase orders for the sale of an additional 96,000 tons of metallurgical coal increasing its published contracted sales guidance for 2013 from 170,000 tons to 266,000 tons of which it expects to ship 250,000 tons in fiscal 2013.

It said: "The Company continues to actively market its high quality low volatile metallurgical coal and is in discussions with domestic and international buyers. The company continues to match production to actual sales and does not have unnecessary inventories of unsold coal. While the company remains optimistic that further sales will be achieved, it only reports future sales guidance based on currently contracted volumes. The company has continued to be successful in achieving sales as a result of the superior quality of its low volatile met coal product."

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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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