Pacific Coal resumes operations at its La Caypa mine
Feb 06, 2012, 07:30 ET
TORONTO, Feb. 6, 2012 /CNW/ - Pacific Coal Resources Ltd. (TSXV: PAK) is pleased to announce that it has resumed operations at its La Caypa mine, which were stalled by an illegal work stoppage by unauthorized personnel as announced in the Company's January 30, 2012 news release.
Operations at La Caypa resumed Saturday morning, and the Company's production returned to normal levels by Sunday morning. The Company will decisively work on catching up on lost production.
The disruption was cleared up when the Barrancas municipality issued an order for the unauthorized personnel to clear the premises, which was enforced by local police. The police force that participated in these events is still at La Caypa and will remain stationed there throughout next week. The Company wishes to acknowledge its security team and in house counsel, as well as the local authorities who helped facilitate a peaceful resolution to these events.
About Pacific Coal Resources Ltd.
Pacific Coal Resources Ltd. is a Canadian-based mining company focused on coal, coking coal, asphalt and asphaltite exploration, development and production from prospective producing, development-stage and exploration-stage properties in Colombia. The Company has acquired or entered into agreements to acquire various interests in several operating coal mines and projects, representing a substantive coal and asphaltite exploration and production area throughout Colombia. Pacific Coal is committed to implementing its exploration and development strategy with a comprehensive environment, safety and community program, meeting international standards of best practice.
Forward Looking Information:
This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Pacific Coal to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and Pacific Coal disclaim, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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