TORONTO, ONTARIO--(Marketwired - Dec 31, 2013) - Forbes & Manhattan Coal Corp. (TSX:FMC)(JSE:FMC) ("Forbes Coal" or "the Company") has secured the offer of a significant funding package by Resource Capital Fund V L.P ("RCF") into the Company, comprising up to a total of up to US$19.0 million (the "Transaction"). This funding package is comprised of a bridge loan of US$4.0 million (the "Bridge Loan") and a convertible [...]
TORONTO, ONTARIO--(Marketwired - Oct 18, 2013) - Forbes & Manhattan Coal Corp. (TSX:FMC)(JSE:FMC) ("Forbes Coal" or "the Company") has reached agreement on wages for this year with the Association of Mineworkers and Construction Union (AMCU) for employees in categories 4 to 8. Wages for employees in these categories will increase by 9% for the period from August 1, 2013 to July 31, 2014. Stephan Theron, President and CEO [...]
TORONTO, ONTARIO--(Marketwired - Sep 12, 2013) - Forbes & Manhattan Coal Corp. (TSX:FMC)(JSE:FMC) announces that shareholders voted in favour of all items of business brought before them at the company's Annual General and Special Meeting of Shareholders ("AGM") held in Toronto, Ontario, on September 11, 2013. The nominees listed in the Forbes Coal management proxy circular for the 2013 AGM were re-elected as directors [...]
Domestic Sales Increase 14% for the Second Quarter of Fiscal 2014 TORONTO, ONTARIO--(Marketwired - Sep 11, 2013) - Forbes & Manhattan Coal Corp. (TSX:FMC)(JSE:FMC) reports record second quarter production at its Magdalena bituminous mine (June 1, 2013 to August 31, 2013). Total run of mine production (ROM) for the second quarter of fiscal 2014 was 446,000 tonnes on par with the 447,000 tonnes produced in the first [...]
TORONTO, ONTARIO--(Marketwired - Sep 4, 2013) - Forbes & Manhattan Coal Corp. (TSX:FMC) (JSE:FMC) has closed the secured US$6 million convertible loan facility from Resource Capital Fund V L.P ("RCF") (the "Transaction"). The loan facility is to be used for general working capital in relation to Forbes Coal's operations and exploration properties in Dundee, South Africa. Subject to receipt of shareholder approval, the [...]
TORONTO, ONTARIO--(Marketwired - Aug 9, 2013) - Forbes & Manhattan Coal Corp. (TSX:FMC)(JSE:FMC) announces that it has entered into a term sheet for a secured US$6 million convertible loan facility from Resource Capital Fund V L.P ("RCF") with a maturity date of June 30, 2016 (the "Transaction"). The loan facility is to be used for general working capital in relation to Forbes Coal's operations and exploration properties [...]
TORONTO, ONTARIO--(Marketwired - Jul 15, 2013) - Forbes & Manhattan Coal Corp. (TSX:FMC)(JSE:FMC) ("Forbes Coal" or "the Company") reports its financial results for the first quarter of FY2014 (the 3 month period ended May 31, 2013). Revenue was $20.51 million, gross profit was $0.34 million and consolidated EBITDA was $2.01 million as summarized in the table below. First Quarter FY2014 Financial Results [...]
SALES INCREASE 55% FOR THE FIRST QUARTER OF FISCAL 2014TORONTO, ONTARIO -- (Marketwired) -- 06/12/13 -- Forbes & Manhattan Coal Corp. (TSX: FMC)(JSE: FMC) reports record first quarter production at its Magdalena bituminous and Aviemore anthracite mines (March 1, 2013 to May 31, 2013). Total run of mine production (ROM) for the first quarter of fiscal 2014 was 447,000 tonnes a 23% sequential increase over the 364,000 [...]
Provides Outlook for Fiscal 2014TORONTO, ONTARIO -- (Marketwired) -- 05/30/13 -- Forbes & Manhattan Coal Corp. (TSX: FMC)(JSE: FMC) ("Forbes Coal" or the "Company") reports its financial results for the fiscal year 2013 (the 12 month period ended February 28, 2013). Revenue was $68.5 million, gross profit was $0.9 million and consolidated EBITDA was ($0.8) million as summarized in the table below [...]
TORONTO, ONTARIO -- (Marketwired) -- 05/21/13 -- Forbes & Manhattan Coal Corp. (TSX: FMC)(JSE: FMC) announced today that Ryan Bennett, a senior partner of Resource Capital Funds, FMC's largest shareholder, has stepped down from the Forbes & Manhattan Coal board of directors and will be replaced by his colleague Thomas Quinn Roussel.
Stephan Theron, President and CEO of Forbes Coal commented, "On behalf of Forbes Coal [...]
TORONTO, ONTARIO -- (Marketwired) -- 05/15/13 -- Forbes & Manhattan Coal Corp. (TSX: FMC)(JSE: FMC) reports that it has filed a new technical report (the "Technical Report") in respect of the Company's coal operations in the KwaZulu-Natal Province, South Africa. The Technical Report was prepared in compliance with National Instrument 43-101 - Standards for Disclosure for Mineral Projects.
Record Monthly Production of 151,000 Tonnes Achieved in February 2013TORONTO, ONTARIO -- (Marketwire) -- 03/08/13 -- Forbes & Manhattan Coal Corp. (TSX: FMC)(JSE: FMC) reports strong fourth quarter production at its Magdalena bituminous and Aviemore anthracite mines (December 1, 2012 to February 28, 2013). Total run of mine production (ROM) for the fourth quarter of 2013 was 363,000 tonnes, a 48% increase over the [...]
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