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News Breaks
July 8, 2014
09:44 EDTWLTWalter Energy reports preliminary Q2 metallurgical coal production 2.5M mt
Walter Energy disclosed in a regulatory filing earlier that its preliminary metallurgical coal production for Q2, including both hard coking coal and low-volatility pulverized coal injection product, was 2.5M metric tons, comprised of 2.0M and 0.5M metric tons produced within its U.S. operations and Canadian and U.K. operations, respectively. Preliminary metallurgical coal sales for Q2, including both HCC and low-vol PCI, was 2.7M metric tons, comprised of 2.0M and 0.7M metric tons sold within its U.S. operations and Canadian and U.K. operations, respectively. Walter added that in April it began idling its Canadian operations, including the Wolverine and Brazion coal mines in British Columbia, having placed the Wolverine mine on idle status in April and the Brazion operations on idle status in June. The company incurred severance charges of approximately $7M in Q2 in connection with the idling of these mines. Walter Energy added: "Effective June 27, Maple Leaf Loading Ltd., the firm which transports coal from the idled Brule Mine to our processing plant via the Falling Creek Connector Road, announced that it had been placed into receivership by its creditors. As a result, we are currently identifying alternatives to the services previously provided by Maple Leaf." Also, Walter noted that in June the company experienced difficult geological conditions at Mine No. 7 which adversely affected production. "The impact on production was less than 100,000 metric tons, and there was no impact on sales. We believe these geological issues have been resolved and still expect the Company’s full-year 2014 metallurgical coal production to total between 9.0 and 10.0 million metric tons," Walter stated.
News For WLT From The Last 14 Days
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December 17, 2014
11:29 EDTWLTJoy Global sees U.S coal market to be challenged in 2015
Joy Global says U.S. coal exports are likely to decline this year. Falling gas prices attributable to warmer weather will result in a switch to gas for electricity production. Publicly traded companies in the coal space include Alliance Resource Partners (ARLP), Alpha Natural (ANR), Arch Coal (ACI), CONSOL (CNX), Cloud Peak (CLD), Peabody (BTU) and Walter Energy (WLT).
December 15, 2014
16:30 EDTWLTAlden Global reports 3.79% passive stake in Walter Energy
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December 8, 2014
06:15 EDTWLTWalter Energy implied volatility of 188 at upper end of index mean range
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