Vancouver, Canada-based investment company Novadx Ventures Corp has announced that its wholly-owned subsidiary MCoal Corporation has moved to a second production shift at its Rosa mine, located in Blount County, Alabama, US, resulting in increased sales.
According to a company statement, for the period of August 1-15, MCoal booked sales worth US$228,576, demonstrating a 100 percent increase over the same period in July. For the period of August 16-20, MCoal booked sales of US$206,805, demonstrating a continued increase in sales on a week to week basis. The increased production has filled available throughput capacity at the present contract wash plant.
Management is exploring the use of alternative washing facilities whilst moving forward with the acquisition and implementation of a wash plant at the Rosa mine site, the statement said.
As SteelOrbis previously reported, MCoal Corporation commenced coal mining operations at the Rosa coal mine in April. Once mined, MCoal's metallurgical coal is being washed under contract at a nearby coal washing facility to be sold to a coking coal facility located approximately 43 miles from the Rosa coal mine.