sector: Energy ·
industry: Coal ·
Colacorp Mining Inc. is a Canada-based coal mining and development company that is focused on the exploration, development and exploitation of coal and coal-related assets, principally in Colombia. It properties include La Francia, which is an open pit coal operation located in north eastern Colombia. On June 26, 2008, the Company repurchased its sales agent, GC Coal. On March 22, 2007, the Company exercised its option to acquire 100% of the shares of Adromi, a Panamanian company, which owns 100% of a property (La Francia II) adjacent to the Company’s wholly owned La Francia property.
BRIEF: For the nine months ended 31 March 2008, Coalcorp Mining Inc.'s revenues decreased 36% to $38.2M. Net loss from continuing operations increased 65% to $39.1M. Revenues reflect lower income from Colombia segment. Net loss reflects increase in the general & administration expenses, the presence of restructuring charges, higher stock based compensation expenses and the presences of write-off of intangible assets.
Coalcorp Mining, Inc.
220 Bay Street
Suite 1400
Toranto ON M5J 2W4
P: +1416.3604653
F: +1416.3607783