Following the beginning of construction in late September, 2010, the on-surface construction is materially complete, portals for a conveyor drift and auxiliary drift have been constructed and drivage of these drifts has begun and is progressing well.

The company said that production from that longwall will commence in early 2012 while additional longwalls will be phased in thereafter.

The company, in accordance with the authority granted by shareholders, its board of directors has approved a change in name to EastCoal.

The company has identified the Donbass coal basin of Ukraine as having major potential, including export potential for world markets through rail connections to the nearby Sea of Azov and Black Sea ports.