The company said sales from its Dillon Mine in northeast British Columbia reached 142,000 tonnes of pulverised coal injection (PCI) coal at an average price of $78.21 ($US68.25), in the fourth quarter ended March 31.

Over the full financial year, the company mined 721,000t and realised FOB sales of 548,000t for total revenues of $59.6 million. Net income was $7.5 million compared to a loss of $11 million for fiscal 2005.

“Mining costs were adversely affected, commencing with the quarter ended September 2005, by a previously undefined fault in the southern end of the Dillon syncline resulting in a decrease in coal reserves of approximately 188,000t,” the company said.

Total transportation related costs were $5.3 million or $37.48 per tonne in the fourth quarter, totalling $2.92/t less than last year’s fourth quarter.

The company said its main focus is completing the construction of the Wolverine project in northeast British Columbia, which is designed to handle 3 million tonnes of hard coking coal per annum.

Equipment and project construction costs at the Wolverine mine cost the company $99.8 million in the quarter and $197.9 million for the year.

The company said it was on budget and on schedule to complete the majority of the Wolverine construction during July 2006.

“Initial throughput is expected to commence in July 2006 and will quickly ramp up to a rate of 2.4Mt per annum,” the company said.

As at March 31, 2006, the company's working capital position was $60 million, compared to $119 million in the prior year.

Western Canadian Coal’s total assets more than doubled, from $150 million to $341 million, year over year, the company said.

On the Toronto stock market this morning, the company’s shares were trading at $2.55.