For the period of August 1-15, MCoal booked coal sales of $US228,576, a 100% increase over the same period of July 2010.
On August 16-20 it booked $206,805, a continued week-to-week sales boost.
Rosa’s second shift began August 2, following the training of its operating staff. Novadx said the production jump has brought its contract wash plant to capacity.
The company said it is evaluating the use of alternative washing facilities as it progresses with its acquisition and start-up of a plant at the Rosa mine site, which it expects to bring online next January.
The implementation of that onsite facility, it noted, will allow for increased processing capabilities and a more consistent recovery and quality of output from the Alabama operation.
That in turn will allow for further sales growth.
"We continue to experience higher demand for the Rosa coal than we can currently fulfill, without significantly expanding our mining operations and implementing an internal wash plant facility,” Novadx president Neil MacDonald said.
“A portion of the proceeds from the current financing will go towards furthering this goal, as well as towards the acquisition of the existing Auger at the Rosa Mine, which will enable us to reduce our total cost of production per-ton."
Novadx announced in June it had commenced production at the Blount County operation. Rosa is expected to have a lifespan of 12 years.
