Grande Cache: production delays due to equipment shortages, will work with railroads to boost export shipments

摘要

Grande Cache Coal Corporation posted a net loss of 6.0 million dollars for the fourth quarter of 2004, For the first nine months of the fiscal year, Grande Cache Coal's net loss was 8.7 million dollars. "We were pleased to commence shipments to customers during the quarter and to reach sales agreements for the upcoming coal year," Robert Stan, president and chief executive officer said. "However, as disclosed in our project update press release issued on January 28, 2005, our production costs have been higher than earlier anticipated. Our efforts are focused on improving our cost structure and increasing productivity in our mining operations. We are working closely with our surface mining contractor to improve costs, as well as with our rail service providers to ensure adequate coal movement to meet our sales targets."