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UPDATE: Coalspur Mines June 2012 Quarterly Report; Shrs Up 3% in Early Trade

Coalspur Mines Limited (CPT.TO), is up 2 cents in early trade, to 66 cents, on volume 18,500. The company presented its quarterly report for the three months ending 30 June 2012.

Highlights:

- Ms Gill Winckler, a former senior BHP Billiton executive, was appointed President and CEO following the resignation of Mr Gene Wusaty. Winckler's previous roles include Chief Development Officer of the Energy Coal division where she was responsible for BHP Billiton's thermal coal business development activities and project growth pipeline around the world (announced 30 May 2012).

- Completed a production optimization study on Vista which resulted in an increase in the forecast annual marketable coal production capacity to 12.0Mtpa from 11.2Mtpa (announced 26 April 2012).

- Submitted the regulatory applications necessary to construct, operate and commission Phase 1 of Vista. Approval of these applications is targeted for early 2013 with construction on Vista to commence thereafter (announced 2 May 2012).

- Acquired an additional 14,432 hectares of coal bearing leases in the Hinton region for C$13 million which are adjacent to the northeast boundary of Vista.

- Increased the company's Measured and Indicated Coal Resources to 1.7 Billion tonnes.

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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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