Clinch Resources Begins Coal Production from Its Lanes Branch Property; Shares up 7%
Clinch Resources (CLCH.TO) on Wednesday said commercial-grade coal production has begun at its Lanes Branch property.This "production milestone marks a significant inflection point" for Clinch, as it transitions from mine development to active commercial operations, it stated.The Lanes Branch property, located within Clinch's 54,000-acre ARI project footprint in southern West Virginia, is now producing "high-quality" coking coal, said the company and added that initial production is being processed and prepared for delivery."Reaching first production ahead of schedule at Lanes Branch validates our operational strategy and the quality of our assets," said chief executive officer Jon Nix. "We are now focused on ramping production volumes while maintaining the operational excellence and safety standards that define our company culture."The company's shares were last seen up $0.09 at $1.36 on the Toronto Stock Exchange.Price: $1.36, Change: $+0.09, Percent Change: +7.09%
