{"id":450161,"date":"2021-03-03T17:18:18","date_gmt":"2021-03-03T22:18:18","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=450161"},"modified":"2021-03-03T17:18:18","modified_gmt":"2021-03-03T22:18:18","slug":"corsa-coal-announces-financial-results-for-fourth-quarter-and-full-year-2020","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/corsa-coal-announces-financial-results-for-fourth-quarter-and-full-year-2020\/","title":{"rendered":"Corsa Coal Announces Financial Results for Fourth Quarter and Full Year 2020"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">Canada NewsWire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">FRIEDENS, Pa.<\/span>, <span class=\"xn-chron\">March 3, 2021<\/span> \/CNW\/ &#8211;\u00a0Corsa Coal Corp. (TSXV: CSO) (OTCQX: CRSXF) (&#8220;Corsa&#8221; or the &#8220;Company&#8221;), a premium quality metallurgical coal producer, today reported financial results for the three months and full year ended December\u00a031, 2020.\u00a0Corsa has filed its audited consolidated financial statements for the years ended December\u00a031, 2020 and 2019, related management&#8217;s discussion and analysis and its annual information form under its profile on <u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3085567-1&amp;h=3745677993&amp;u=http%3A%2F%2Fwww.sedar.com%2F&amp;a=www.sedar.com\" rel=\"nofollow noopener noreferrer\">www.sedar.com<\/a><\/u>.<\/p>\n<p>Unless otherwise noted, all dollar amounts in this news release are expressed in <span class=\"xn-location\">United States<\/span> dollars and all ton amounts are short tons (2,000 pounds per ton).\u00a0Pricing and cost per ton information is expressed on a free-on-board, or FOB, mine site basis, unless otherwise noted.<\/p>\n<p>\n        <b><br \/>\n          <u>Fourth Quarter and Full Year 2020 Highlights<\/u><br \/>\n        <\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>Corsa reported net and comprehensive loss of <span class=\"xn-money\">$13.0 million<\/span> and <span class=\"xn-money\">$63.7 million<\/span>, or <span class=\"xn-money\">$(0.13)<\/span> and <span class=\"xn-money\">$(0.60)<\/span> per share attributable to shareholders, for the three months and year ended <span class=\"xn-chron\">December 31, 2020<\/span>, respectively, compared to a loss of <span class=\"xn-money\">$8.2 million<\/span> and <span class=\"xn-money\">$0.5 million<\/span>, or <span class=\"xn-money\">$(0.09)<\/span> and <span class=\"xn-money\">$(0.03)<\/span> per share attributable to shareholders, for the three months and year ended <span class=\"xn-chron\">December 31, 2019<\/span>, respectively.\u00a0 The year ended <span class=\"xn-chron\">December 31, 2020<\/span> includes a non-cash adjustment of <span class=\"xn-money\">$41.7 million<\/span> related to an asset impairment. <\/li>\n<li>Corsa&#8217;s adjusted EBITDA<sup>(1) <\/sup>was a loss of <span class=\"xn-money\">$1.4 million<\/span> and income of <span class=\"xn-money\">$4.4 million<\/span> for the three months and year ended <span class=\"xn-chron\">December 31, 2020<\/span>, respectively, compared to income of <span class=\"xn-money\">$3.5 million<\/span> and <span class=\"xn-money\">$28.9 million<\/span> for the three months and year ended <span class=\"xn-chron\">December 31, 2019<\/span>, respectively.\u00a0 Corsa&#8217;s EBITDA<sup>(1)<\/sup> was a loss of <span class=\"xn-money\">$9.2 million<\/span> and <span class=\"xn-money\">$41.8 million<\/span> (impacted by the previously mentioned non-cash impairment) for the three months and year ended <span class=\"xn-chron\">December 31, 2020<\/span>, respectively, compared to income of <span class=\"xn-money\">$2.5 million<\/span> and <span class=\"xn-money\">$29.4 million<\/span> for the three months and year ended <span class=\"xn-chron\">December 31, 2019<\/span>, respectively. <\/li>\n<li>Cash production cost per ton sold<sup>(1)<\/sup> was <span class=\"xn-money\">$77.11<\/span> for the three months ended <span class=\"xn-chron\">December 31, 2020<\/span>, an increase of <span class=\"xn-money\">$3.24<\/span> per ton, or 4%, as compared to the three months ended <span class=\"xn-chron\">December 31, 2019<\/span>. Cash production cost per ton sold<sup>(1) <\/sup>was <span class=\"xn-money\">$71.24<\/span> for the year ended <span class=\"xn-chron\">December 31, 2020<\/span>, a decrease of <span class=\"xn-money\">$8.14<\/span> per ton, or 10%, as compared to the year ended <span class=\"xn-chron\">December 31, 2019<\/span>. <\/li>\n<li>Cash flow (used in) provided by operating activities were <span class=\"xn-money\">$(0.2) million<\/span> and <span class=\"xn-money\">$10.7 million<\/span> for the three months and year ended <span class=\"xn-chron\">December 31, 2020<\/span>, respectively, compared to cash flow (used in) provided by operating activities of <span class=\"xn-money\">$(2.0) million<\/span> and <span class=\"xn-money\">$14.7 million<\/span> for the three months and year ended <span class=\"xn-chron\">December 31, 2019<\/span>, respectively. <\/li>\n<li>Total revenues were <span class=\"xn-money\">$16.8 million<\/span> and <span class=\"xn-money\">$128.5 million<\/span> for the three months and year ended <span class=\"xn-chron\">December 31, 2020<\/span>, respectively, compared to <span class=\"xn-money\">$52.6 million<\/span> and <span class=\"xn-money\">$232.1 million<\/span> for the three months and year ended <span class=\"xn-chron\">December 31, 2019<\/span>, respectively. <\/li>\n<li>Low volatile metallurgical coal sales tons, comprised of &#8220;Company Produced&#8221; tons and &#8220;Value Added Services&#8221; purchased coal tons, were 190,412 and 3,314, respectively, in the three months ended <span class=\"xn-chron\">December 31, 2020<\/span> and 1,199,034 and 35,933, respectively, for the year ended <span class=\"xn-chron\">December 31, 2020<\/span> compared to 418,794 and 21,292, respectively, in the three months ended <span class=\"xn-chron\">December 31, 2019<\/span> and 1,301,244 and 250,638, respectively, for the year ended <span class=\"xn-chron\">December 31<\/span>, 2019.\u00a0 In the three months and year ended <span class=\"xn-chron\">December 31, 2020<\/span>, Corsa sold a total of 360 and 137,023 &#8220;Sales and Trading&#8221; purchased coal tons, respectively, which are treated as pass-through from a profitability perspective, compared to 68,879 and 281,471 tons, respectively, in the three months and year ended <span class=\"xn-chron\">December 31, 2019<\/span>. <\/li>\n<li>Corsa&#8217;s average realized price per ton of metallurgical coal sold<sup>(1) <\/sup>was <span class=\"xn-money\">$82.03<\/span> and <span class=\"xn-money\">$81.77<\/span> per short ton for all metallurgical qualities in the three months and year ended <span class=\"xn-chron\">December 31, 2020<\/span>, respectively, compared to <span class=\"xn-money\">$86.70<\/span> and <span class=\"xn-money\">$103.76<\/span> in the three months and year ended <span class=\"xn-chron\">December 31, 2019<\/span>, respectively.\u00a0 This average realized price for the fourth quarter 2020 is the approximate equivalent of between <span class=\"xn-money\">$112<\/span> to <span class=\"xn-money\">$118<\/span> per metric ton on an FOB vessel basis<sup>(2)<\/sup>.<sup>\u00a0 <\/sup>For the fourth quarter 2020, Corsa&#8217;s sales mix included 51% of sales to domestic customers and 49% of sales to international customers. <\/li>\n<li>In <span class=\"xn-chron\">April 2020<\/span>, certain wholly-owned subsidiaries of Corsa, as borrowers, entered into loan agreements with KeyBank National Association (&#8220;KeyBank&#8221;) for an aggregate amount of approximately <span class=\"xn-money\">$8.4 million<\/span> under the Paycheck Protection Program, which amounts are guaranteed by the U.S. Small Business Administration and at least <span class=\"xn-money\">$7.2 million<\/span> is expected to be forgiven under the terms of the Paycheck Protection Program.\u00a0 <\/li>\n<li>In <span class=\"xn-chron\">December 2020<\/span>, certain wholly-owned subsidiaries of Corsa, as borrowers, entered into a five-year secured term loan with KeyBank for <span class=\"xn-money\">$25.0 million<\/span> through the Main Street Lending Program.<\/li>\n<\/ul>\n<div>\n<table id=\"convertedTable8ead\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen1\">\n<tr>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>(1)<\/sup><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">This is a non-GAAP financial measure.\u00a0 See &#8220;Non-GAAP Financial Measures&#8221; below.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>(2)\u00a0<\/sup><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Similar to most U.S. metallurgical coal producers, Corsa reports sales and costs per ton on an FOB mine site basis and denominated in short tons.\u00a0 Many international metallurgical coal producers report prices and costs on a delivered-to-the-port basis (or &#8220;FOB vessel basis&#8221;), thereby including freight costs between the mine and the port.\u00a0 Additionally, Corsa reports sales and costs per short ton, which is approximately 10% lower than a metric ton.\u00a0 For the purposes of this figure, we have used an illustrative freight rate of $20-$25 per short ton.\u00a0 Historically, freight rates rise and fall as market prices rise and fall.\u00a0 As a note, most published indices for metallurgical coal report prices on a delivered-to-the-port basis and denominated in metric tons.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p><\/p>\n<p>\n        <span class=\"xn-person\">Peter Merritts<\/span>, Chief Executive Officer of Corsa, commented, &#8220;While the unprecedented challenges of 2020 are reflected in our fourth quarter and full year financial results, the impacts of our employee&#8217;s talents and dedication are evident in the Company&#8217;s ability to overcome these challenges and to position us for success in the years ahead.\u00a0 Our full year 2020 cash production cost per ton sold improved by 10% from 2019 and our general and administrative expenses were at their lowest levels. We also secured additional financing in the fourth quarter that provides the liquidity needed to support our current operations and our eventual return to full production at our mines. The cost reduction and operational improvements that we made in 2020 will continue to deliver increased profitability as the international metallurgical coal market recovers and we increase our participation in the export market. Our mines, preparation plants and experienced team are ready to serve our domestic and international customers as the steel markets improve, economies recover and profitable opportunities increase.&#8221;<\/p>\n<p>\n        <b><br \/>\n          <u>2020 Full Year Sales Metrics<\/u><br \/>\n        <\/b>\n      <\/p>\n<p>Corsa&#8217;s metallurgical coal sales figures are comprised of three types of sales: (i) selling coal that Corsa produces (&#8220;Company Produced&#8221;); (ii) selling coal that Corsa purchases and provides value added services (storing, washing, blending, loading) to make the coal saleable (&#8220;Valued Added Services&#8221;); and (iii) selling coal that Corsa purchases on a clean or finished basis from suppliers outside the Northern Appalachia region (&#8220;Sales and Trading&#8221;).\u00a0 For the year ended <span class=\"xn-chron\">December 31, 2020<\/span>, Corsa&#8217;s sales were broken down into the following categories.<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td colspan=\"11\" nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Metallurgical Coal Sales by Category (Tons)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Q1 2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Q2 2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Q3 2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Q4 2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>YTD 2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Company Produced<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">384,750<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">336,928<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">286,944<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">190,412<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,199,034<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Purchased &#8211; Value Added Services<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">29,576<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,426<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">617<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,314<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">35,933<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Purchased &#8211; Sales and Trading<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">34,587<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">102,076<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">360<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">137,023<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">448,913<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">441,430<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">287,561<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">194,086<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,371,990<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b><br \/>\n          <u>Financial and Operations Summary<\/u><br \/>\n        <\/b>\n      <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen1\">\n<tr>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"8\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>For the three months ended<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen13\">\n              \n            <\/td>\n<td colspan=\"8\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>For the years ended<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"8\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>December 31,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen13\">\n              \n            <\/td>\n<td colspan=\"8\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>December 31,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Increase<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Increase<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <i>(in thousands)<\/i><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(Decrease)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(Decrease)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Revenues<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">16,835<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">52,641<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(35,806)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">128,486<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">232,069<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(103,583)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cost of sales<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">26,901<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">57,746<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(30,845)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">144,402<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">216,748<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(72,346)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cost of sales &#8211; asset impairment<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">41,684<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">41,684<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total cost of sales<sup>(2)<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">26,901<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">57,746<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(30,845)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">186,086<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">216,748<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(30,662)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Selling, general and administrative expense<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,997<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,025<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(28)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">10,057<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">15,748<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(5,691)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net and comprehensive (loss) income for the period<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(13,042)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(8,151)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4,891)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(63,723)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(513)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(63,210)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cash provided by operating activities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(188)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,958)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,770<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">10,694<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14,686<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,992)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">EBITDA<sup>(1)<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(9,249)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,517<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(11,766)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(41,812)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">29,448<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(71,260)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjusted EBITDA<sup>(1)<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,431)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,528<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4,959)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,390<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">28,878<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(24,488)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Coal sold &#8211; tons<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">NAPP \u2013 metallurgical coal<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">194<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">509<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen20\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(315)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,372<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,833<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen20\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(461)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<div>\n<table id=\"convertedTable27d0\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen1\">\n<tr>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>(1) <\/sup>This is a non-GAAP financial measure.\u00a0 See &#8220;Non-GAAP Financial Measures&#8221; below.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>(2)<\/sup>\u00a0Cost of sales consists of the following:<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"5\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>For the three months ended<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"5\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>For the years ended<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"5\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>December 31,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"5\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>December 31,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <i>(in thousands)<\/i><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Mining and processing costs<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">13,933<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">29,401<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">80,080<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">97,000<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Purchased coal costs<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">243<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7,038<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">13,856<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">47,358<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Royalty expense<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">945<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,790<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,149<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,968<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Amortization expense<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,335<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">10,006<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">19,825<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">25,961<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Transportation costs from preparation plant to customer<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">401<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7,597<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">13,236<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">33,475<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Idle mine expense<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">153<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">74<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">447<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">938<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Tolling costs<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">119<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">290<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">912<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,953<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Change in estimate of reclamation and water treatment liability<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7,513<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,190<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7,791<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,190<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Write-off of advance royalties and other assets<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">123<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">484<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">171<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Other costs<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">117<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">95<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,165<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">36<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cost of sales<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">26,759<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">57,604<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">143,945<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">216,050<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cost of sales &#8211; asset impairment<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">41,684<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total cost of sales<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">26,759<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">57,604<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">185,629<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">216,050<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"8\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>For the three months ended<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prnsbt1 prnsbr1 prnvab prnsbb1 prntac prnpl6 prnsbl1 prnpr8\">\n              \n            <\/td>\n<td colspan=\"8\" class=\"prngen21\">\n<p class=\"prnews_p\" \/>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>For the years ended<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"8\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>December 31,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prnsbt1 prnsbr1 prnvab prnsbtb0 prntac prnpl6 prnsbl1 prnpr8\">\n              \n            <\/td>\n<td colspan=\"8\" class=\"prngen5\">\n<p class=\"prnews_p\" \/>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>December 31,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen28\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen28\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen29\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Variance<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen28\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen28\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen29\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Variance<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Realized price per ton sold<sup>(1)<\/sup><\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">NAPP \u2013 metallurgical coal<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">82.03<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">86.70<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4.67)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">81.77<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">103.76<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(21.99)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cash production cost per ton sold<sup>(1)(2)<\/sup><\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">NAPP \u2013 metallurgical coal<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">77.11<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">73.87<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3.24)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">71.24<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">79.38<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8.14<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cash cost per ton sold<sup>(1)(3)<\/sup><\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">NAPP \u2013 metallurgical coal<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">76.77<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">74.59<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2.18)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">72.35<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">82.07<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">9.72<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cash margin per ton sold<sup>(1)<\/sup><\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">NAPP \u2013 metallurgical coal<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5.26<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">12.11<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6.85)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">9.42<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">21.69<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(12.27)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">EBITDA<sup>(1)<\/sup>(000&#8217;s)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">NAPP<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(8,116)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,082<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(11,198)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(38,256)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">36,023<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(74,279)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Corporate<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,133)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(565)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(568)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,556)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6,575)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,019<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(9,249)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,517<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(11,766)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(41,812)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">29,448<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(71,260)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjusted EBITDA<sup>(1)<\/sup>(000&#8217;s)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">NAPP<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(775)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,082<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4,857)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,954<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">32,492<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(25,538)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Corporate<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(656)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(554)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(102)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,564)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,614)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,050<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,431)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,528<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4,959)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,390<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">28,878<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(24,488)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div>\n<table id=\"convertedTable648d\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen1\">\n<tr>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>(1) <\/sup>This is a non-GAAP financial measure.\u00a0 See &#8220;Non-GAAP Financial Measures&#8221; below.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>(2) <\/sup>Cash production cost per ton sold excludes purchased coal.\u00a0 This is a non-GAAP financial measure.\u00a0 See &#8220;Non-GAAP Financial Measures&#8221; below.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>(3) <\/sup>Cash cost per ton sold includes purchased coal.\u00a0 This is a non-GAAP financial measure.\u00a0 See &#8220;Non-GAAP Financial Measures&#8221; below.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p><\/p>\n<p>\n        <b><br \/>\n          <u>Coal Pricing Trends and Outlook<\/u><br \/>\n        <\/b>\n      <\/p>\n<p>Price levels opened the fourth quarter 2020 at <span class=\"xn-money\">$139.00<\/span>\/metric ton (&#8220;mt&#8221;) delivered-to-the-port (&#8220;FOBT&#8221;) for spot deliveries of Australian premium low volatile metallurgical coal and closed the quarter at <span class=\"xn-money\">$102.50<\/span>\/mt FOBT. The quarterly average price for the fourth quarter of 2020 was <span class=\"xn-money\">$108.20<\/span>\/mt FOBT for Australian premium low volatile metallurgical coal, compared to <span class=\"xn-money\">$114.75<\/span>\/mt FOBT in the third quarter of 2020, and traded in a range from a high of <span class=\"xn-money\">$139.00<\/span>\/mt FOBT to a low of <span class=\"xn-money\">$97.25<\/span>\/mt FOBT.\u00a0January 2021 spot market pricing for Australian premium low volatile metallurgical coal opened at <span class=\"xn-money\">$102.50<\/span>\/mt FOBT, closed the month at <span class=\"xn-money\">$160.50<\/span>\/mt FOBT and traded in a range from a high of <span class=\"xn-money\">$160.50<\/span>\/mt FOBT to a low of <span class=\"xn-money\">$102.00<\/span>\/mt FOBT for an average price of <span class=\"xn-money\">$124.44<\/span>\/mt FOBT.\u00a0February 2021 spot market pricing opened the month at <span class=\"xn-money\">$160.50<\/span>\/mt FOBT, closed the month at <span class=\"xn-money\">$125.75<\/span>\/mt FOBT and traded in a range from a high of <span class=\"xn-money\">$160.50<\/span>\/mt FOBT to a low of <span class=\"xn-money\">$124.75<\/span>\/mt FOBT for an average price of <span class=\"xn-money\">$143.70<\/span>\/mt FOBT.<\/p>\n<p>The World Steel Association reported that global crude steel production decreased by 0.9% in 2020 versus 2019 with <span class=\"xn-location\">China<\/span> up 5.2%, <span class=\"xn-location\">Turkey<\/span> up 6.0% and <span class=\"xn-location\">Russia<\/span> up 2.6%.\u00a0Significant decreases were reported for many countries as the COVID-19 pandemic and related restrictions negatively impacted demand and production.\u00a0Notable steel production decreases were reported for the U.S. (17.2%), <span class=\"xn-location\">Japan<\/span> (16.2%), <span class=\"xn-location\">India<\/span> (10.6%), <span class=\"xn-location\">Germany<\/span> (10.0%), <span class=\"xn-location\">South Korea<\/span> (6.0%) and <span class=\"xn-location\">Brazil<\/span> (4.9%).\u00a0 Regionally, the <span class=\"xn-location\">Middle East<\/span> grew by 2.5%, <span class=\"xn-location\">Asia<\/span>, which includes <span class=\"xn-location\">China<\/span> and <span class=\"xn-location\">India<\/span>, increased by 1.5%, <span class=\"xn-location\">North America<\/span> decreased by 15.5%, <span class=\"xn-location\">South America<\/span> decreased by 8.4% and <span class=\"xn-location\">Europe<\/span> decreased by 5.3%. According to the U.S. Energy Information Administration, U.S. metallurgical coal exports totaled 30.9 million tons through September, a decrease of approximately 25% when compared to the same period in the previous year. Annualized, 2020 U.S. coking coal exports would be approximately 41 million tons as compared to 55 million tons in 2019.\u00a0 Hot-rolled coil prices varied throughout the year in response to the economic impacts of the COVID-19 pandemic but ended the year significantly higher as vaccinations were administered and restrictions were eased in various countries. When comparing hot-rolled steel coil prices at the end of 2020 to the beginning of 2020, U.S. prices rose 75%, Northern European prices rose 53% and Chinese prices rose 41%.\u00a0 <\/p>\n<p>The World Steel Association Short Range Outlook released in October forecasted that steel demand will contract by 2.4% in 2020 versus 2019 and will increase by 4.1% in 2021 versus 2020.\u00a0 Global steel demand in 2021 is expected to exceed 2019 levels, driven primarily by Chinese increases compared to 2019.\u00a0Chinese steel demand is expected to increase by 8.0% in 2020 as compared to 2019 and remain flat in 2021.\u00a0 Excluding China, steel demand from the rest of the world will decrease by 13.3% in 2020 and increase by 9.4% in 2021.\u00a0Regionally, the collective demand from <span class=\"xn-location\">the United States<\/span>, <span class=\"xn-location\">Canada<\/span> and <span class=\"xn-location\">Mexico<\/span> is forecasted to decrease by 15.3% in 2020 and increase by 6.7% in 2021; demand from the European Union is forecasted to decrease by 15.2% in 2020 and increase by 11.0% in 2021; the collective demand from <span class=\"xn-location\">Asia<\/span> and Oceania (excluding <span class=\"xn-location\">China<\/span>) is forecasted to decrease by 13.3% in 2020 and increase by 10.7% in 2021; and the collective demand from Central and <span class=\"xn-location\">South America<\/span> is forecasted to decrease by 10.1% in 2020 and increase by 8.2% in 2021.\u00a0Through <span class=\"xn-chron\">January 2021<\/span>, the World Steel Association reported that global crude steel production rose 4.8% in 2021 versus 2020 with <span class=\"xn-location\">Turkey<\/span> up 12.7%, <span class=\"xn-location\">Brazil<\/span> up 10.8%, <span class=\"xn-location\">India<\/span> up 7.6% and <span class=\"xn-location\">China<\/span> up 6.8% while <span class=\"xn-location\">the United States<\/span> and <span class=\"xn-location\">Japan<\/span> were down 9.9% and 3.9%, respectively. Regionally, <span class=\"xn-location\">South America<\/span> grew by 11.4%, <span class=\"xn-location\">Asia<\/span> and Oceania, which includes <span class=\"xn-location\">China<\/span> and <span class=\"xn-location\">India<\/span>, increased by 6.3%, the EU was lower by 0.4% and <span class=\"xn-location\">North America<\/span> was lower by 7.0%.\u00a0 Hot-rolled steel coil prices have increased since the start of 2021 in U.S., <span class=\"xn-location\">Northern Europe<\/span> and <span class=\"xn-location\">China<\/span> by 20%, 11% and 6%, respectively.\u00a0 <\/p>\n<p>After opening the first quarter of 2021 at <span class=\"xn-money\">$102.50<\/span>\/mt FOBT, the forward curve for the first quarter of 2021 according to the TSI index is trading in the $130s\/mt FOBT range with March at <span class=\"xn-money\">$131<\/span>\/mt FOBT. Forward curve pricing for 2021 and 2022 is showing pricing the low $140s to upper $150s\/mt FOBT range.\u00a0 Increased global steel demand and increased global steel production are improving the demand for metallurgical coal and driving prices up as production resumes and supply slowly returns.\u00a0Trade tensions between <span class=\"xn-location\">China<\/span> and <span class=\"xn-location\">Australia<\/span> continue to impact the supply and demand balance of the seaborne metallurgical coal market and resulted in changing dynamics and trade routes for U.S. east coast metallurgical coal shipments.\u00a0Domestic metallurgical coal market contract negotiations for 2021 were completed in the fourth quarter of 2020 and demand is expected to exceed contracted tonnages for the year.\u00a0Due to the continued uncertainty of the COVID-19 pandemic, price volatility is expected as future demand for metallurgical coal and the availability of supply will be impacted by, among other things, country specific and regional efforts to contain and control the spread of the COVID-19 virus, new variants of the virus, the pace and effectiveness of vaccinations, the economic stimulus activities of each country and global organizations and the operating status and capabilities of our customers and competitors.<\/p>\n<p>See &#8220;Risk Factors&#8221; in the Company&#8217;s annual information form dated March\u00a03, 2021 for the year ended <span class=\"xn-chron\">December 31, 2020<\/span> for an additional discussion regarding certain factors that could impact coal pricing trends and outlook, as well as the Company&#8217;s ongoing operations.<\/p>\n<p>\n        <b><br \/>\n          <u>Financial Statements and Management&#8217;s Discussion and Analysis<\/u><br \/>\n        <\/b>\n      <\/p>\n<p>Refer to Corsa&#8217;s audited consolidated financial statements for the years ended December\u00a031, 2020 and 2019 and related management&#8217;s discussion and analysis, filed under Corsa&#8217;s profile on <a href=\"http:\/\/www.sedar.com\" rel=\"nofollow\">www.sedar.com<\/a>, for details of the financial performance of Corsa and the matters referred to in this news release.<\/p>\n<p>\n        <b><br \/>\n          <u>Non-GAAP Financial Measures<\/u><br \/>\n        <\/b>\n      <\/p>\n<p>Management uses realized price per ton sold, cash production cost per ton sold, cash cost per ton sold, cash margin per ton sold, EBITDA and adjusted EBITDA, as both terms are defined below, as internal measurements of financial performance for Corsa&#8217;s mining and processing operations.\u00a0 These measures are not recognized under International Financial Reporting Standards (&#8220;GAAP&#8221;).\u00a0 Corsa believes that, in addition to the conventional measures prepared in accordance with GAAP, certain investors and other stakeholders also use these non-GAAP financial measures to evaluate Corsa&#8217;s operating and financial performance; however, these non-GAAP financial measures do not have any standardized meaning and therefore may not be comparable to similar measures presented by other issuers. Accordingly, these non-GAAP financial measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Reference is made to the management&#8217;s discussion and analysis for the three months and year ended December\u00a031, 2020 for a reconciliation and definitions of non-GAAP financial measures to GAAP measures.<\/p>\n<p>Corsa defines adjusted EBITDA as EBITDA (earnings before deductions for interest, taxes, depreciation and amortization) adjusted for change in estimate of reclamation provision for non-operating properties, impairment and write-off of mineral properties and advance royalties, gain (loss) on sale of assets and other costs, stock-based compensation, non-cash finance expenses and other non-cash adjustments.\u00a0Adjusted EBITDA is used as a supplemental financial measure by management and by external users of our financial statements to assess our performance as compared to the performance of other companies in the coal industry, without regard to financing methods, historical cost basis or capital structure; the ability of our assets to generate sufficient cash flow; and our ability to incur and service debt and fund capital expenditures. <\/p>\n<p>\n        <b><br \/>\n          <u>Qualified Person<\/u><br \/>\n        <\/b>\n      <\/p>\n<p>All scientific and technical information contained in this news release has been reviewed and approved by <span class=\"xn-person\">Peter Merritts<\/span>, Professional Engineer and the Company&#8217;s Chief Executive Officer, who is a qualified person within the meaning of National Instrument 43-101 \u2013\u00a0<i>Standards of Disclosure for Mineral Projects<\/i>.<\/p>\n<p>\n        <b><br \/>\n          <u>Caution<\/u><br \/>\n        <\/b>\n      <\/p>\n<p>Potential developments and market conditions discussed in this news release are considered to be forward looking information.\u00a0Readers are cautioned that actual results may vary from this forward-looking information.\u00a0See &#8220;Forward-Looking Statements&#8221; below.<\/p>\n<p>\n        <b><br \/>\n          <u>Information about Corsa<\/u><br \/>\n        <\/b>\n      <\/p>\n<p>Corsa is a coal mining company focused on the production and sales of metallurgical coal, an essential ingredient in the production of steel. Our core business is producing and selling metallurgical coal to domestic and international steel and coke producers in the Atlantic and Pacific basin markets. <\/p>\n<p>\n        <b>Forward-Looking Statements<br \/><\/b>Certain information set forth in this press release contains &#8220;forward-looking statements&#8221; and &#8220;forward-looking information&#8221; (collectively, &#8220;forward-looking statements&#8221;) under applicable securities laws. Except for statements of historical fact, certain information contained herein including, but not limited to, statements relating to the expected price volatility of the metallurgical coal market, the future demand for steel and its production, the availability of its supply, and the finalization of domestic metallurgical coal market contract negotiations in 2021, constitutes forward-looking statements which include management&#8217;s assessment of future plans and operations and are based on current internal expectations, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as &#8220;will&#8221;, &#8220;estimates&#8221;, &#8220;expects&#8221; &#8220;anticipates&#8221;, &#8220;believes&#8221;, &#8220;projects&#8221;, &#8220;plans&#8221;, &#8220;capacity&#8221;, &#8220;hope&#8221;, &#8220;forecast&#8221;, &#8220;anticipate&#8221;, &#8220;could&#8221; and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties. These risks and uncertainties include, but are not limited to: changes in market conditions, governmental or regulatory developments as a result of the COVID-19 pandemic or otherwise, the operating status and capabilities of our customers and competitors; various events which could disrupt operations and\/or the transportation of coal products, including labor stoppages, the outbreak of disease and severe weather conditions; and management&#8217;s ability to anticipate and manage the foregoing factors and risks. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements. Corsa does not undertake to update any of the forward-looking statements contained in this press release unless required by law. The statements as to Corsa&#8217;s capacity to produce coal are no assurance that it will achieve these levels of production or that it will be able to achieve these sales levels.<\/p>\n<p>\n        <b><br \/>\n          <i>The TSX Venture Exchange has in no way passed on the merits of this news release.\u00a0 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>SOURCE  Corsa Coal Corp.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=C1679&amp;Transmission_Id=202103031715CANADANWWEB______C1679&amp;DateId=20210303\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canada NewsWire FRIEDENS, Pa., March 3, 2021 \/CNW\/ &#8211;\u00a0Corsa Coal Corp. (TSXV: CSO) (OTCQX: CRSXF) (&#8220;Corsa&#8221; or the &#8220;Company&#8221;), a premium quality metallurgical coal producer, today reported financial results for the three months and full year ended December\u00a031, 2020.\u00a0Corsa has filed its audited consolidated financial statements for the years ended December\u00a031, 2020 and 2019, related management&#8217;s discussion and analysis and its annual information form under its profile on www.sedar.com. Unless otherwise noted, all dollar amounts in this news release are expressed in United States dollars and all ton amounts are short tons (2,000 pounds per ton).\u00a0Pricing and cost per ton information is expressed on a free-on-board, or FOB, mine site basis, unless otherwise noted. Fourth Quarter and Full Year 2020 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/corsa-coal-announces-financial-results-for-fourth-quarter-and-full-year-2020\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Corsa Coal Announces Financial Results for Fourth Quarter and Full Year 2020&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-450161","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Corsa Coal Announces Financial Results for Fourth Quarter and Full Year 2020 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/corsa-coal-announces-financial-results-for-fourth-quarter-and-full-year-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Corsa Coal Announces Financial Results for Fourth Quarter and Full Year 2020 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Canada NewsWire FRIEDENS, Pa., March 3, 2021 \/CNW\/ &#8211;\u00a0Corsa Coal Corp. (TSXV: CSO) (OTCQX: CRSXF) (&#8220;Corsa&#8221; or the &#8220;Company&#8221;), a premium quality metallurgical coal producer, today reported financial results for the three months and full year ended December\u00a031, 2020.\u00a0Corsa has filed its audited consolidated financial statements for the years ended December\u00a031, 2020 and 2019, related management&#8217;s discussion and analysis and its annual information form under its profile on www.sedar.com. Unless otherwise noted, all dollar amounts in this news release are expressed in United States dollars and all ton amounts are short tons (2,000 pounds per ton).\u00a0Pricing and cost per ton information is expressed on a free-on-board, or FOB, mine site basis, unless otherwise noted. 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/corsa-coal-announces-financial-results-for-fourth-quarter-and-full-year-2020\/","og_locale":"en_US","og_type":"article","og_title":"Corsa Coal Announces Financial Results for Fourth Quarter and Full Year 2020 - Market Newsdesk","og_description":"Canada NewsWire FRIEDENS, Pa., March 3, 2021 \/CNW\/ &#8211;\u00a0Corsa Coal Corp. (TSXV: CSO) (OTCQX: CRSXF) (&#8220;Corsa&#8221; or the &#8220;Company&#8221;), a premium quality metallurgical coal producer, today reported financial results for the three months and full year ended December\u00a031, 2020.\u00a0Corsa has filed its audited consolidated financial statements for the years ended December\u00a031, 2020 and 2019, related management&#8217;s discussion and analysis and its annual information form under its profile on www.sedar.com. Unless otherwise noted, all dollar amounts in this news release are expressed in United States dollars and all ton amounts are short tons (2,000 pounds per ton).\u00a0Pricing and cost per ton information is expressed on a free-on-board, or FOB, mine site basis, unless otherwise noted. 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