CanAm Coal Corp. reported unaudited condensed consolidated financial results for the first quarter ended March 31, 2012. For the quarter, the company reported coal sales revenue of $7,671,284 compared to $3,233,121, EBITDA of $972,564 compared to $867,870, income from mining operations of $32,220 compared to $892,824, loss before tax of $1,326,923 compared to income before tax of $352,979 and net loss of $952,486 compared to net income of $227,604 for the last year. Generated cash flow from operations was $0.2 million, down from $0.8 million in first quarter of 2011. Invested $3.0 million in mine equipment and infrastructure, up from $0.4 million in first quarter of 2011. The company remains confident that it will be able to significantly grow its production and sales for 2012 and beyond. Target production for 2012 is now estimated at 390,000 to 425,000 tons (previously 450,000 to 550,000 tons), up from 256,000 tons in 2011.