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