TORONTO, Sept 13 (Reuters) - Shares in Western Coal Corp were up more than 8 percent on Monday morning after the Canadian miner said its second-quarter production continued to rise above that of the record-high first quarter, putting it on track to meet ambitious targets for its current 2011 fiscal year.
The Vancouver-based miner said it will produce six million tonnes in fiscal 2011 and that it is implementing a growth target of 10 million tonnes by fiscal 2013.
The company, which has mines in Canada, the United States and Britain, said it is considering deals outside of North America to meet its growth targets as well as to provide access to emerging markets.
Western Coal said it would amend its capital structure and delist 72 million shares currently held by a subsidiary by the end of December 2010.
Shares in Western Coal were up 8.3 percent at C$5.09 on Monday morning on the Toronto Stock Exchange.
($1=$1.03 Canadian)
(Reporting by Julie Gordon; editing by Peter Galloway) Keywords: WESTERNCOAL/ (julie.gordon@thomsonreuters.com; +1 416 941 8136; Reuters Messaging: julie.gordon.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The Vancouver-based miner said it will produce six million tonnes in fiscal 2011 and that it is implementing a growth target of 10 million tonnes by fiscal 2013.
The company, which has mines in Canada, the United States and Britain, said it is considering deals outside of North America to meet its growth targets as well as to provide access to emerging markets.
Western Coal said it would amend its capital structure and delist 72 million shares currently held by a subsidiary by the end of December 2010.
Shares in Western Coal were up 8.3 percent at C$5.09 on Monday morning on the Toronto Stock Exchange.
($1=$1.03 Canadian)
(Reporting by Julie Gordon; editing by Peter Galloway) Keywords: WESTERNCOAL/ (julie.gordon@thomsonreuters.com; +1 416 941 8136; Reuters Messaging: julie.gordon.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.