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Novadx Ventures Corp. (TSXV:NDX) announced that in December 2011, the Company moved to full commercial production at the Rosa Mine. Since December 2011, the wash plant at the Rosa Mine has produced approximately 13,800 tons of coal, which were sold at an average price of $166 per ton to customers in the coking coal and activated carbon industries.
As quoted in the press release:
Since the commencement of full production in December, the wash plant at the Rosa Mine has produced approximately 13,800 tons of coal, which were sold at an average price of $166 per ton to customers in the coking coal and activated carbon industries. Total coal sales over this period were approximately $2.3 million yielding net revenues for coal sales of approximately $2 million to Novadx after payment relating to the Sandstorm Metals and Energy Ltd. coal stream agreement.
Novadx CEO, Neil MacDonald, said:
“We are pleased that the Rosa Mine and wash plant are beginning to operate at our commercial production target of 120,000 tons per year of clean coal. As we expected, our Rosa wash plant is producing a high quality product and we have recently negotiated higher contract prices for our coal in 2012. Accordingly, we anticipate our average selling price moving towards $180 per ton in this calendar quarter. We are continuing to look for ways to improve mine and wash plant efficiencies with the goal of exceeding our targets.”
Click here to read the Novadx Ventures Corp. (TSXV:NDX) press release
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