CanAm Coal Corp. Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2013; Reports Unaudited Production Results for the Second Quarter Ended June 30, 2013; Provides Capex Guidance for the Second Half of 2013
For the six months, the company reported loss attributable to owners of the parent of $3,263,415 on revenue (coal sales) of $29,470,155 compared to loss attributable to owners of the parent of $2,687,090 on revenue (coal sales) of $26,098,171 reported a year ago. Income from mining operations was $311,787 compared to loss from mining operations of $345,450 reported a year ago. Loss before tax was $4,707,704 compared to $3,683,128 reported a year ago. EBITDA from operations was $4,480,344 compared to $3,786,528 reported a year ago.
For the quarter, the company's production was 168,488 tons compared to 130,517 tons reported a year ago.
The company anticipates capex for the second half of 2013 to be lower compared to the first half which should contribute significantly to free cash flow.