EastCoal Inc. (TSXV:ECX,AIM:ECX) is happy to announce that, at the end of February, it recommenced its wash plant at the Menzhinsky mine after the completion of engineering improvements and that it expects wash plant production to increase over the next few weeks.
Highlights from press release:
– Will reduce headcount at its Ukrainian operations by approximately 400 people, principally to improve operational efficiency; currently employs approximately 1,200 employees across Menzhinsky and Verticalnaya opertaions
– Pleased to announce that on 12 March 2013 it reached an agreement with Aponet Enterprises Limited to amend the CDN$0.65 conversion price of its US$4 million debenture issued as part of the acquisition of Inter Invest
– Owner of the Menzhinsky mine, to CDN$0.23, and to convert the debenture into 17,391,305 common shares of EastCoal Inc. effective 12 March 2013