Walter Energy Addreses Concerns About Audley Capital

Walter Energy, Inc. (NYSE:WLT, TSX:WLT) sent a letter to shareholders outlining steps they are taking to preserve shareholder value.

As quoted in the press release:

These decisions are already bearing fruit and will ensure thatWalter Energycaptures substantial upside when the coal market recovers. Specifically, we:

• Idled or curtailed underperforming mines to respond to reduced demand. Over the past 22 months, we idled the Aberpergwm, Gauley Eagle andWillow Creek mines, curtailed production at our Maple underground and Brule mines, and accelerated closure of our North River mine. When the market recovers, we will be able to resume production at mines such asWillow Creek, which has high quality met coal assets.
• Increased production capacity. Our met coal production increased 35% to nearly 12 million metric tons in 2012, and we have the capacity to increase production by 28% in 2013 as market conditions warrant.

To view the whole press release, click here.