The company announced it sold 72,000 clean tons of metallurgical coal at an average realized price of $US152 a ton.

That exceeded its published guidance of 65-70,000t.

The company also sold 38,000 tons of thermal coal during the quarter at an average price of $32 a ton.

For the six months to May 31 the company had sold 137,000 clean tons of metallurgical coal at an average price of $155 a ton and 59,000t of thermal coal at an average $35 a ton. The realized prices reflect the sale of some carryover tons from the previous year’s sale contract.

Corsa believes these prices and volumes indicate an improving trend.

It points to industry reports that show that US Low Vol met coal spot pricing free on board from an eastern seaport, was in the range of $165 a metric tonne for March. That rose to $185 per tonne in April and stayed pretty steady at $182/t in May.

Meanwhile Australian prime spot pricing was in the range of $211, $211 and $216/t for the same months.

Reports show June pricing for Australian prime will be about $225/t.

While Corsa is finding the going hard in the tough US thermal coal market its high quality low-vol hard met coal is drawing market attention.

Based on purchase orders, scheduled and expected trains and sales agreements in hand, the company expects to ship about 140,000 clean tons of metallurgical coal in the third quarter.

That will double its Q2 sales.

Corsa reports that its order book for the fourth quarter is continuing to build.

The company also has released an updated technical report on its Casselman mine in Garrett County, Maryland.

The Casselman Report contains an upgrade to the Casselman mine indicated resource to a proven reserve of just under 10 million recoverable short tons. This is expected to result in 7.9 short tons of clean coal after beneficiation.