North American Gem (CVE:NAG) reports its shipping and selling coal has began. The main focus of NAG’s leasing and permitting strategy is to acquire and develop properties in areas where mining has occurred before the enactment of the Surface Mining Reclamation and Control act of 1977. North American Gem’s President and CEO, Charles Desjardins says: “NAG is looking [...]
Coal stocks have been hit hard in this recession, given slumping electricity demand in the U.S. and the sharp drop-off of steel demand. For shareholders of Patriot Coal Corp (PCX: NYSE), the pain has been particularly acute. The stock lost 96 per cent of its value since last June's record highs. This year alone, Patriot's stock is down 41 per cent versus a 1 per cent decline by the Dow Jones U.S. Coal Index.
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