Royal Coal announces that it has acquired the Charlene rail load-out facility, which was previously leased by the Company since October 2009. The Charlene Load Out is located on the CSX Railway and is proximate to the Company's Big Branch Mine in Eastern Kentucky, enabling access to utility and industrial markets. The loadout is a 4-hr. fast-load batch weigh facility, has 68,000 tons of storage capacity, and has a [...]
Royal Coal today announced the release of financial and operating results for the three months ended March 31, 2011, together with its Management's Discussion and Analysis of Financial Condition and Results of Operations for the corresponding period. These documents are posted on SEDAR and on the Company's.
Royal Coal is pleased to announce the appointment of Mr. Rodney Mays as Chief Operations Officer. Mr. Mays is an experienced operations manager with twenty-six years of coal mining experience and strong industry knowledge. He brings to Royal Coal extensive knowledge of the Appalachian coal industry and its day-to-day operations. He was most recently Operations Manager & East Kentucky Regional Mine Manager at another [...]
Royal Coal announced today the execution of a letter of intent to acquire an early-stage development metallurgical coal project in northern Appalachia. According to the terms of the letter of intent, Royal Coal would acquire coal leases covering a leased area of approximately 1,800 acres within a wider project area of over 46,000 acres. In addition, the vendors agreed to continue to assist Royal Coal both before and after [...]
Royal Coal announces that it has agreed to a term sheet for a private placement financing of CAD 10,000,000 of secured convertible debentures. Under the terms of the Offering, Royal Coal will issue to Mercuria Energy Group Limited or a designated affiliate CAD 10,000,000 of secured convertible debentures, which will bear interest at a rate of 9% per annum, payable semi-annually in arrears and will be due on or about July [...]
Royal Coal announces that it has issued 100,000 stock options under its stock option plan to General Research GmbH in consideration for investor relations advisory services in Europe. Each option entitles the holder to purchase one common share at a price of $0.265 per share until April 28, 2013. The grant of options is subject to the approval of the TSX Venture Exchange.
Royal Coal announces that it has obtained a receipt for its final prospectus filed in the Provinces of British Columbia, Alberta, Manitoba and Ontario. The prospectus qualifies for distribution 138,000,000 common shares of the Company and 69,000,000 common share purchase warrants of the Company issuable upon the automatic exercise of 138,000,000 previously issued special warrants of the Company. Each Warrant will entitle [...]
Royal Coal announces that it has retired its previously reported obligation to pay a US$2.00/ton royalty to Juno Special Situations Corporation, which royalty had a remaining aggregate amount payable of approximately US$6.4 million. As a result, the future amount owing under this royalty was reduced to zero. Juno used the full amount of the royalty payment to repay an arm's length lender in an amount equal to the Royalty [...]
Royal Coal is pleased to announce that its common shares have begun trading on the Frankfurt Stock Exchange under the symbol 'RLC'. 'With our large existing European shareholder base as well as strong overseas investor interest for coal companies like Royal Coal, we are pleased to provide both new and existing shareholder's trading access on the Frankfurt Stock Exchange' commented Mr. Tom Griffis, Chairman of Royal Coal.
Royal Coal announces the refiling of its interim consolidated financial statements and management discussion and analysis for the three and nine month periods ended September 30, 2010 and the associated CEO and CFO certificates. The restatement will not affect the cash flows or cash position of the Company.
Royal Coal announces that it has repaid the following indebtedness, and the completion of certain administrative matters set out below. The Company has repaid US$4,200,000 to Cheyenne Resources, being the remaining principal amount outstanding under the debenture issued to Cheyenne Resources as part of the purchase price for the coal and surface leases known as the Big Branch Mine. No principal remains outstanding under [...]
Royal Coal is pleased to announce that it has completed its previously announced equity financing of special warrants raising gross proceeds of $34.5 million through a syndicate of agents led by Cormark Securities Inc. and including Haywood Securities Inc. and Northern Securities. Upon the exercise or deemed exercise thereof, each Special Warrant will entitle the holder thereof to receive one unit (a "Unit") without [...]
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