The company said those tapped to serve included Jonathan Legg, Timothy Bergen, John Bergen, Robert Power and Timothy Nakaska.

CanAm also announced it has adjusted the end of its fiscal year, pushing it back from January 31 to December 31; thus the fiscal year ending December 31, 2011 will have only 11 months.

Last month, the company released its third quarter earnings, reporting achieved coal sales of 94,261 tonnes, an increase of 82,853 tonnes year-on-year, and generated revenue of $8.7 million compared to $1.2 million in the prior year’s third quarter.

CanAm operated four coal operations in Alabama – Bear Creek, Old Union, Gooden Creek and Powhatan – as well as the Buick coal project in Colorado, which holds an estimated 188 million indicated and 103 million inferred tons of resources.

It entered the industry as a new operator in November 2009, when it created Alabama-based RAC Mining, of which it currently holds a 98% stake.