UPDATE: Pacific Coal Ahead 17% As Announces La Caypa and Cerro Largo Operational Update for Q3
Pacific Coal Resources (PAK.V) was ahead by 17% on midday Thursday after announcing an operational update on its producing mines, La Caypa and Cerro Largo - La Divisa. From production at both La Caypa and Cerro Largo, exports totaled 448,691 tonnes and the average achieved sale price was US$102.51/tonne FOB, representing revenues of approximately US$46 million for the third quarter of 2011. The company said the increase in export volumes compared to the previous quarter was due to incremental production coming from both La Caypa and Cerro Largo assets, as well as efficiencies achieved in the logistics chain by the incorporation of the new truck fleet.
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