TORONTO, ONTARIO -- (Marketwire) -- 03/08/13 -- Forbes & Manhattan Coal Corp. (TSX: FMC)(JSE: FMC) reports strong fourth quarter production at its Magdalena bituminous and Aviemore anthracite mines (December 1, 2012 to February 28, 2013). Total run of mine production (ROM) for the fourth quarter of 2013 was 363,000 tonnes, a 48% increase over the 246,000 tonnes produced in the third quarter of 2013 and a 20% increase over the fourth quarter of 2012. Total saleable production for the fourth quarter of 2013 was 213,000 tonnes (excluding bought in tonnes), a 40% increase from the previous quarter of 152,000 tonnes and an 8% increase over the fourth quarter of 2012.
February 2013 monthly production achieved a record ROM tonnage of 151,000 tonnes, a significant achievement over the 117,000 tonne monthly average of the last 12 months.
Production Highlights:
----------------------------------------------------------------------------Tonnes Q4 2013 FY 2012 FY 2013 %Change y/y----------------------------------------------------------------------------Total ROM Production 363,000 1,291,000 1,412,000 +9%----------------------------------------------------------------------------Magdalena ROM production 278,000 1,010,000 1,009,000 -----------------------------------------------------------------------------Aviemore ROM Production 85,000 281,000 403,000 +43%----------------------------------------------------------------------------Total Saleable Production (including bought in tonnes) 230,000 924,000 965,000 +4%----------------------------------------------------------------------------Total Sales 170,000 1,082,000 836,000 -23%------------------------------------------------------------------------------ Aviemore ROM production was 85,000 tonnes, a 39% increase over third quarter 2013 production of 61,000 tonnes-- Aviemore saleable production was 57,000 tonnes, a 43% increase over third quarter 2013 production of 40,000 tonnes-- Magdalena ROM production was 278,000 tonnes, a 51% increase over third quarter 2013 production of 184,000 tonnes-- Magdalena saleable production was 156,000 tonnes, a 39% increase over third quarter 2013 production of 112,000 tonnes-- In addition, Forbes Coal bought in 17,000 tonnes resulting in 230,000 total saleable tonnes for the fourth quarter 2013 and a 30% increase over the third quarter 2013
The increased production rates at Aviemore and Magdalena have enabled both mines to build up healthy stocks of ROM and saleable product. This in turn has resulted in more efficient and optimal use of washing plant capacity.
"We have resumed a healthy pace of production and our fourth quarter results reflect the consistent growth the company has achieved up to the third quarter, where production was lost as a result of a four and a half week labour disruption. The company has made a strong recovery from the third quarter, and with a record February in ROM production, we are starting the 2014 fiscal year in a strong position. Forbes Coal remains focused on diligent operational efficiency," commented President and Chief Executive Officer Stephan Theron.
