Grande Cache Coal Corp. (TSX:GCE) has reduced its coal sales estimate for 2012 – Dominion Lending Centres Clearlease Reports
CALGARY – (April 15, 2011) Dominion Lending Centres Clearlease Reports Grande Cache Coal Corp. (TSX:GCE) has reduced its coal sales estimate for 2012 after experiencing “more challenging than anticipated” conditions at its surface mine in Alberta.
The Calgary company said it now expects to sell 2.2 million to 2.4 million tonnes next year, lowered from an earlier prediction of 2.4 to 2.6 million tonnes.
Grande Cache said it sold 1.55 million tonnes in fiscal 2011, down from 1.77 million tonnes in 2010. In the first quarter of fiscal 2012 ended March 31, sales fell to 370,000 tonnes from 430,000 tonnes. However, president and CEO Robert Stan said the company expects annual production to meet a target of 3.5 million tonnes by the end of fiscal 2013.
“The outlook for the metallurgical coal markets over the next several years continues to be strong with record high commodity prices expected in the quarter commencing April 1, 2011,” Stan said in a statement.
UBS analyst Chris Lichtenheldt noted that production of 370,000 tonnes in the fourth quarter at an average sales price of US$192 per tonne was above UBS estimates for 325,000 tonnes at US$177 — and that metallurgical coal comprised 93 per cent of sales, versus the UBS estimate for 88 per cent.
“We believe GCE shares could be weak today, as the company has missed or lowered guidance more than once over the past several quarters,” Lichtenheldt wrote.
Shares in the company were down 23 cents or 2.5 per cent at C$9.14 on the Toronto Stock Exchange.
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Headquartered in Downtown Vancouver, British Columbia. We’re expanding in Q2, 2011 to Calgary and Edmonton, Alberta! In Q3, 2011 we are expanding in Toronto, Ontario! Dominion Lending Centres Clearlease services clients from Coast to Coast. Our Residential Group has a team of Licensed Mortgage Brokers offering our clients the best terms and rates available in the current market. Our Commercial Funding/Mortgage Group is active across Canada Funding Mortgages in cities such as Toronto, Edmonton, Calgary, Vancouver and Victoria.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
CALGARY – (April 15, 2011) Dominion Lending Centres Clearlease Reports Grande Cache Coal Corp. (TSX:GCE) has reduced its coal sales estimate for 2012 after experiencing “more challenging than anticipated” conditions at its surface mine in Alberta.
The Calgary company said it now expects to sell 2.2 million to 2.4 million tonnes next year, lowered from an earlier prediction of 2.4 to 2.6 million tonnes.
Grande Cache said it sold 1.55 million tonnes in fiscal 2011, down from 1.77 million tonnes in 2010. In the first quarter of fiscal 2012 ended March 31, sales fell to 370,000 tonnes from 430,000 tonnes. However, president and CEO Robert Stan said the company expects annual production to meet a target of 3.5 million tonnes by the end of fiscal 2013.
“The outlook for the metallurgical coal markets over the next several years continues to be strong with record high commodity prices expected in the quarter commencing April 1, 2011,” Stan said in a statement.
UBS analyst Chris Lichtenheldt noted that production of 370,000 tonnes in the fourth quarter at an average sales price of US$192 per tonne was above UBS estimates for 325,000 tonnes at US$177 — and that metallurgical coal comprised 93 per cent of sales, versus the UBS estimate for 88 per cent.
“We believe GCE shares could be weak today, as the company has missed or lowered guidance more than once over the past several quarters,” Lichtenheldt wrote.
Shares in the company were down 23 cents or 2.5 per cent at C$9.14 on the Toronto Stock Exchange.
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Headquartered in Downtown Vancouver, British Columbia. We’re expanding in Q2, 2011 to Calgary and Edmonton, Alberta! In Q3, 2011 we are expanding in Toronto, Ontario! Dominion Lending Centres Clearlease services clients from Coast to Coast. Our Residential Group has a team of Licensed Mortgage Brokers offering our clients the best terms and rates available in the current market. Our Commercial Funding/Mortgage Group is active across Canada Funding Mortgages in cities such as Toronto, Edmonton, Calgary, Vancouver and Victoria.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###Grande Cache Coal Corp. (TSX:GCE) has reduced its coal sales estimate for 2012 – Dominion Lending Centres Clearlease Reports
CALGARY – (April 15, 2011) Dominion Lending Centres Clearlease Reports Grande Cache Coal Corp. (TSX:GCE) has reduced its coal sales estimate for 2012 after experiencing “more challenging than anticipated” conditions at its surface mine in Alberta.
The Calgary company said it now expects to sell 2.2 million to 2.4 million tonnes next year, lowered from an earlier prediction of 2.4 to 2.6 million tonnes.
Grande Cache said it sold 1.55 million tonnes in fiscal 2011, down from 1.77 million tonnes in 2010. In the first quarter of fiscal 2012 ended March 31, sales fell to 370,000 tonnes from 430,000 tonnes. However, president and CEO Robert Stan said the company expects annual production to meet a target of 3.5 million tonnes by the end of fiscal 2013.
“The outlook for the metallurgical coal markets over the next several years continues to be strong with record high commodity prices expected in the quarter commencing April 1, 2011,” Stan said in a statement.
UBS analyst Chris Lichtenheldt noted that production of 370,000 tonnes in the fourth quarter at an average sales price of US$192 per tonne was above UBS estimates for 325,000 tonnes at US$177 — and that metallurgical coal comprised 93 per cent of sales, versus the UBS estimate for 88 per cent.
“We believe GCE shares could be weak today, as the company has missed or lowered guidance more than once over the past several quarters,” Lichtenheldt wrote.
Shares in the company were down 23 cents or 2.5 per cent at C$9.14 on the Toronto Stock Exchange.
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Headquartered in Downtown Vancouver, British Columbia. We’re expanding in Q2, 2011 to Calgary and Edmonton, Alberta! In Q3, 2011 we are expanding in Toronto, Ontario! Dominion Lending Centres Clearlease services clients from Coast to Coast. Our Residential Group has a team of Licensed Mortgage Brokers offering our clients the best terms and rates available in the current market. Our Commercial Funding/Mortgage Group is active across Canada Funding Mortgages in cities such as Toronto, Edmonton, Calgary, Vancouver and Victoria.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
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