VANCOUVER, May 25 /PRNewswire-FirstCall/ -- Western Canadian Coal Corp (TSX: WTN, WTN.WT and WTN.DB and AIM: WTN) ("Company") announces an update on production and shipments for the fourth quarter ending March 31, 2009 and the expected release date of the Company's fourth quarter fiscal 2009 financial results
Fourth Quarter Fiscal 2009 Operations Update ---------------------------------------------
For the fourth quarter fiscal 2009, the Company had shipments of approximately 276,700 tonnes of hard coking coal and 68,500 tonnes of low-volatile PCI coal ("ULV-PCI"). Sales prices in the quarter averaged US$250 per tonne.
Production for the fourth quarter was 359,700 tonnes of hard coking coal and 142,000 tonnes of ULV-PCI. During the quarter, the stripping ratio at the Wolverine Operation was 15:1, which was lower than the 17:1 ratio in the third fiscal quarter, and continues to fall towards fiscal 2010 plan levels of 12:1. The stripping ratio is a key indicator of cash costs of the operations.
The Company's March 31, 2009 working capital position continues to improve. The strong working capital position includes approximately $75 million of cash. The cash balance takes into consideration the January 2009 repayment of Western's C$5 million loan from Cambrian Mining Plc and the US$32 million loan made to Cambrian Mining (refer to January 22, 2009 press release).
Fourth Quarter Fiscal 2009 Earnings and Conference Call --------------------------------------------------------
The Company expects to release fourth quarter fiscal 2009 financial and operating results on June 29, 2009 (before market hours). The Company is planning to hold a conference call to discuss the quarter's financial and operating results on June 29, 2009 at 8:00 AM (Pacific).
To participate in the call, please dial either 416-644-3426 or 1-800-731-5319. For replay access please dial either 416-640-1917 or 1-877-289-8525.
The call will be webcast live and will be available at http://www.westerncanadiancoal.com/
About Western Canadian Coal
Western Canadian Coal Corp. produces high quality metallurgical coal from mines located in the northeast of British Columbia. The coal is sold to many of the top steelmakers in the world. The Company also has interests in various coal properties in northern and southern British Columbia and a 50% interest to explore and develop the Belcourt and Saxon group of properties in northern BC. For more information, please visit http://www.westerncanadiancoal.com/
Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable securities laws. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Many of these assumptions are based on factors and events that are not within the control of Western and there is no assurance they will prove to be correct. Factors that could cause actual results to vary materially from results anticipated by such forward-looking information include changes in market conditions, variations in coal recovery rates, risks relating to operations, fluctuating coal prices and currency exchange rates, changes in project parameters, the possibility of unanticipated costs and expenses, labour disputes and other risks of the mining industry, failure of plant, equipment or processes to operate as anticipated, the business of the companies not being integrated successfully or such integration proving more difficult, time consuming or costly than expected as well as those risk factors discussed in the Annual Information Form for the year ended March 31, 2008 for Western available on http://www.sedar.com/. Although Western has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Western undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking information.
Western Canadian Coal Corp.
CONTACT: David Jan, Manager, Investor Relations, Phone: (604) 608-2692,
Email: djan@westerncoal.com
