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Corsa Coal Corp., a premium quality metallurgical coal producer, has reported its financial results for the 3 months ended 31 March 2021 (1Q21).
1Q21 highlights
Corsa reported net and comprehensive loss of US$4.4 million, or US$(0.05) per share attributable to shareholders, for 1Q21 compared to a loss of US$5.8 million, or US$(0.06) per share attributable to shareholders, for the 3 months ended 31 March 2020 (1Q20).
Corsa’s adjusted EBITDA was US$0.1 million for 1Q21 compared to US$6.4 million for 1Q20. Corsa’s EBITDA was US$0.1 million for 1Q21 compared to US$1.3 million for 1Q20.
Cash production cost per tonne sold was US$79.15 for 1Q21, an increase of US$8.03/t, or 11%, as compared to 1Q20.
Corsa Coal Announces Financial Results for First Quarter 2021 newswire.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newswire.ca Daily Mail and Mail on Sunday newspapers.
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NEW YORK, March 12, 2021 /PRNewswire/ Pomerantz LLP is investigating claims on behalf of investors of Warrior .Met Coal, Inc. ( Warrior or the Company ) (NYSE: HCC). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Warrior and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On February 24, 2021, post-market, Warrior issued a press release announcing its fourth quarter and full year 2020 financial results, among other results, Warrior reported a larger-than-expected fourth quarter net loss of $33.7 million, or $0.66 per diluted share. The press release further stated that [d]ue to ongoing uncertainty related to the COVID-19 pandemic, the Chinese ban on Australian coal and other potentially disruptive factors, Warrior will not be providing full year 2021 guidance at this
HARRISBURG – In a 6-1 decision, the Supreme Court of Pennsylvania has
concurred with a Pennsylvania Department of Transportation appeal looking to reverse a decision from the Commonwealth Court – which had found an unmined coal estate adjacent to highway construction was illegally seized by state transport authorities through eminent domain.
The Commonwealth Court
decided in March 2019 that a
de facto taking of land on which the coal estate was located had occurred, when PennDOT undertook construction of Highway 219 in southern Somerset County in 2010, to the detriment of Penn Pocahontas Coal Co. and PBS Coals, Inc.
The Commonwealth Court ruled that options to determine right-of-way access to the coal estate in question’s surface, located on Parcel 55, were eliminated through the highway construction. Parcel 55, located in Brothersvalley, was owned by Penn Pocahontas and leased to PBS Coals.
A new highway that cut off access to a property for potential coal mining did not represent a "de facto" taking of the land under Pennsylvania's eminent domain law, since the coal companies that owned the mineral rights were unlikely to get permission to do any actual mining, the state's Supreme Court ruled Wednesday.