PERTH (miningweekly.com) – ASX-listed junior TerraCom has secured coal offtake from its Blair Athol mine, in Queensland, for the June quarter.
The company said on Friday that the coal sales volumes and prices for the June quarter were in line with forecasts, which would ensure that TerraCom completed the financial year strongly.
In addition, TerraCom has secured sales for 520 000 t of coal, at a forecast average price of $92/t, and will be looking to lock a further 130 000 t of sales in the coming weeks, to complete the quarter forecast sales of 650 000 t.
The company said that the September quarter forecast average selling price was expected to deliver a margin of more than $54/t.
TerraCom acquired the Blair Athol mine in May last year, and started production in August.