Centennial settles Tahmoor rumour

CENTENNIAL Coal has today quashed media rumours that its Tahmoor longwall mine “collapsed”.
Centennial settles Tahmoor rumour Centennial settles Tahmoor rumour Centennial settles Tahmoor rumour Centennial settles Tahmoor rumour Centennial settles Tahmoor rumour

Tahmoor's installation face in progress

Staff Reporter

After closing at $A3.64 on Tuesday, it looked like the gossip had spread when shares in the company plummeted to $3.40 yesterday before recovering to $3.60 by mid-morning today.

Centennial said the rumour might refer to an incident in late August, when the roof in a roadway adjacent to the Tahmoor longwall fell down.

“As a result the longwall changeover was slightly delayed, with production in the new longwall block due to recommence this weekend,” the company said.

Centennial said total production for the year would not be impacted by the roof fall.

Earlier this year, slower than expected progress through poor roof conditions at Tahmoor contributed to Centennial’s downgraded profit guidance, from $A20-$26 million to $16-$17.5 million for the 2006 financial year.

In August the company announced a net profit of $A17.1 million.

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