Grande Cache Coal Corporation Earns Net Income of $27.7 Million During Fiscal 2011

Grande Cache Coal Corporation (TSX:GCE) announced quarterly and year-end financial results.

The press release is quoted as saying:

Net income for fiscal 2011 was $27.7 million ($0.28 per basic and diluted share) representing a 38% increase from $20.1 million ($0.21 per basic share and $0.20 per diluted share) in fiscal 2010.

Robert Stan, President and Chief Executive Officer, says:

“During fiscal 2011 we made significant capital asset investments, including the development of No. 8 surface pit, adding ten new Komatsu 830E haul trucks and acquiring a new P&H 2800 electric shovel.”

Click here to read the entire news release.