CanAm Coal Corp. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported revenue of $16,670,022 against $17,873,253 a year ago. Loss from mining operations was $167,211 against income from mining operations of $1,021,184 a year ago. Loss before tax was $2,811,893 against $1,192,674 a year ago. Loss for the period was $2,499,281 against $894,945 a year ago. Loss attributable to owners of the parent was $2,400,329 against $964,172 a year ago. EBITDA from operations was $2,505,938 against $3,389,459 a year ago. Operating cash flow Was 1,700,000 against $5,400,000 a year ago. Capex was $0.1 million against $1.7 million a year ago.

For the nine months, the company reported revenue of $50,662,089 against $47,343,408 a year ago. Loss from mining operations was $115,006 against income from mining operations of $1,332,971 a year ago. Loss before tax was $7,293,018 against $5,900,377 a year ago. Loss for the period was $5,660,812 against $4,274,540 a year ago. Loss attributable to owners of the parent was $5,424,020 against $4,227,587 a year ago. EBITDA from operations was $7,787,581 against $7,869,802 a year ago. As its financial position and capital structure, the company completed its debt to equity conversion in the third quarter which reduced net debt by $7.6 million and, as a result, significantly improved its debt to equity ratio to 8:1 at the end of third quarter as compared to 76:1 at June 30, 2014. Capex was $3.6 million against $6.6 million a year ago.

The company reported sales results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported sales of 169,752 tons as compared to 195,750 in the third quarter of 2013. Sales were down mainly as a result of the lack of production from GC2 and were also impacted by a plant shutdown and a delay in the restart of shipments to one of the company's industrial customers. Third quarters of 2013 sales were mainly driven by record production in that quarter.

Sales for the nine month period were up 2% as compared to the prior year. For the nine months, the company reported sales of 523,740 tons as compared to 513,691 tons for the same period a year ago.