| Thu 14 Oct 2010, 12:55 | | OPT - Optimum Coal Holdings Limited - Optimum Coal quarterly operational update |
|
OPT
OPT
OPT - Optimum Coal Holdings Limited - Optimum Coal quarterly operational update
as at 30 September 2010
OPTIMUM COAL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2006/007799/06)
Share code: OPT
ISIN: ZAE000144663
Issuer code: OPT
("Optimum Coal")
OPTIMUM COAL QUARTERLY OPERATIONAL UPDATE AS AT 30 SEPTEMBER 2010
Optimum Coal, a leading South African coal mining and exploration group, listed
on the JSE Limited, wishes to inform shareholders and update the market on
operational performance at Optimum Collieries and Koornfontein Mines. Optimum
Coal owns 100% of Optimum Collieries and Koornfontein Mines respectively.
Optimum Coal produced 4.597 million tons of run-of-mine ("ROM") coal during the
first quarter of FY2011, in line with forecasts of 17.9 - 19.1 million tons of
ROM for the full year.
Of this, 1.96 million tons of export/high quality domestic coal was produced,
slightly ahead of full year production targets of between 7.2 and 7.8 million
tons.
Additionally, 1.625 million tons of Eskom/lower quality domestic coal was
produced in line with full year production forecasts of 6.7 million tons.
Table 1 - Salient Production Features at Optimum Collieries and Koornfontein
Mines for the 3 month period 1 July 2010 to 30 September 2010.
Optimum Koornfontein
Units Collieries Mines
ROM production t`000 3,756 841
Eskom/lower quality domestic saleable t`000 1,316 309
Export/high quality domestic saleable t`000 1,416 544
Chief Executive Officer Mike Teke said: "We are pleased with our operating
results for the first quarter of FY2011. We have gained significant momentum
during this quarter with total ROM production having increased by 10.2% and
total saleable production increased by 14.1% from the last quarter of FY2010
ending 30 June 2010. Optimum Collieries delivered at targeted production rates
whilst Koornfontein Mines delivered at production rates ahead of its Q1, FY2011
targets. In anticipation of the imminent rainy season, we have spent a
significant amount of time and capital on water management initiatives at our
opencast operations. We remain confident of achieving our FY2011 production
targets."
The above information has not been reviewed and reported on by Optimum Coal`s
external auditors.
Optimum Coal will announce its 2011 interim results on Wednesday 23 February
2011.
www.optimumcoal.com
14 October 2010
Johannesburg
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Financial Communications Advisers
COLLEGE HILL
Date: 14/10/2010 12:55:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
