Australia's Allegiance Coal jumps most in two weeks on production outlook

Allegiance Coal

21/09/2021 05:49

** Shares of Australia's Allegiance Coal Ltd  AHQ.AX  climb
as much as 7.21% to A$0.595 after AHQ issues production outlook
for its Black Warrior and New Elk mines
    ** Stock posts biggest intraday percentage rise since Sept 3
    ** Coal miner forecasts clean coal production from both the
Black Warrior mine and the New Elk mine to exceed 100,000 tonnes
per month by November, and average around 120,000 tonnes per
month for CY22  urn:newsml:reuters.com:*:nASX7WLf0n 
    ** AHQ has offtake for another 30,000 tonnes per month of
coal from a neighbouring mine to Black Warrior, providing about
150,000 tonnes per month of saleable coal and 1.8 mln tonnes in
total for CY22
    ** Says it is ramping up production at the newly acquired
BWM mine in Alabama, U.S., to 700 kilo tonnes per year from 200
kilo tonnes per year 
    ** AHQ up 38.75% so far this year, as of Monday's close 
    


 (Reporting by Harshita Swaminathan in Bengaluru)
 ((Harshita.Swaminathan@thomsonreuters.com))