Overview
of Operational Data
For
the three months ended September 30, 2019
For
the three months ended September 30, 2019, the Company had a lost time
injury frequency rate of 0.08 per 200,000 man hours based on a rolling 12
month average.
The
average realized selling price is $35.0 per tonne for the third quarter of
2019, which is similar to $35.8 per tonne for the third quarter of 2018.
The
product mix for the third quarter of 2019 consisted of approximately 6% of
premium semi-soft coking coal, 63% of standard semi-soft coking
coal/premium thermal coal and 31% of washed coal compared to approximately
34% of premium semi-soft coking coal, 36% of standard semi-soft coking
coal/premium thermal coal and 30% of standard thermal coal in the third
quarter of 2018.
The
Company sold 0.8 million tonnes for the third quarter of 2019 as compared
to 0.7 million tonnes for the third quarter of 2018.
The
Company’s production in the third quarter of 2019 was higher than the
third quarter of 2018 as a result of pacing production to meet the
expected sales as well as a lower strip ratio achieved for the quarter,
yielding 1.2 million tonnes for the third quarter of 2019 as compared to
1.1 million tonnes for the third quarter of 2018.
The
Company’s unit cost of sales of product sold decreased to $19.2 per
tonne in the third quarter of 2019 from $23.4 per tonne in the third
quarter of 2018. The decrease was mainly driven by (i) increased sales and
the related economies of scale; and (ii) the reversal of impairment of
coal stockpile inventories of $5.3 million during the quarter (nil for the
third quarter of 2018).
For
the nine months ended September 30, 2019
The
Company sold 2.8 million tonnes for the first nine months of 2019 as
compared to 1.9 million tonnes for the first nine months of 2018. The
average selling price decreased from $37.0 per tonne for the first nine
months of 2018 to $35.5 per tonne for the first nine months of 2019.
The
Company’s production in the first nine months of 2019 was higher than
the first nine months of 2018 as a result of pacing the production to meet
the expected sales, yielding 3.6 million tonnes for the first nine months
of 2019 as compared to 2.5 million tonnes for the first nine months of
2018.
The
Company’s unit cost of sales of product sold decreased to $22.2 per
tonne in the first nine months of 2019 from $27.7 per tonne in the first
nine months of 2018. The decrease was mainly driven by increased sales and
the related economies of scale.
Link: Official
Document
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