L & L Energy, Inc a Seattle based company with a track record of profitable coal operations in China, announced that its recently acquired GuangYeh operation contributed its first month of sales as coal prices begin to firm in September.

New Coal Sales from GuangYeh Operation
L & L's GuangYeh operation contributed its first sales during September. Approximately 6,000 tons of coal was sold for $ 0.65 million at $108 per ton. Sales from GuangYeh are anticipated to grow to $19 million over the next year, as discussed in L & L's September 5th news release.

Coal Prices Firming
Coal prices and demand have begun to firm as the fall and winter approach. Traditionally, L & L's coal sales prices see a 7 to 10% swing from the summer lows to winter peaks. The sales price for L & L thermal coal bottomed in August and has steadily increased from the beginning of September.

Mr Dickson Lee chairman and CEO of L & L commented that "We are pleased with how quickly GuangYeh completed its first deliveries. Moreover, with the firming of prices and anticipated increasing demand for coal, we expect that L & L sales will exceed that of the first quarter. These developments are a realization of our consolidation strategy, and in parallel the Company is expanding its complimentary distribution."

Source - L & L Energy

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