Activities during the quarter concentrated on coal production from Willow Creek and the construction of a $C11.7 million coal handling facility designed to accommodate an increase in the production rate.
Pine Valley said it had completed commissioning the majority of the equipment constructed and installed to increase the monthly capacity of the Willow Creek to 110,000 tonnes.
The Company concluded sales negotiations with Asian and European steel buyers for the sale of 529,000t of its PCI product. The contract average price for September 2004 to March 31 2005 was $US54.97 per tonne.
Approximately 120,000 of the contracted tonnage will be carried over for deliveries in the year beginning April 1 2005 under new contracts.
