Phoenix Coal Inc reported its financial results for the fourth quarter and year ended December 31st 2009.

2009 Highlights

1. Due to the sale of its surface mining operations on September 30 2009, the Company derived no revenue from coal sales, nor did it produce or purchase any coal for the fourth quarter ended December 31, 2009.

2. For the twelve months ended December 31, 2009, the Company produced approximately 1.4 million tons of saleable coal and purchased approximately 355,000 tons of saleable coal.

3. Coal sales totaled approximately 1.7 million tons for the twelve months ended December 31, 2009.

4. Revenue for the twelve months ended December 31st 2009 was approximately USD 58.8 million, for average revenue per ton sold of USD 33.77.

5. Cost of sales for the twelve months ended December 31st 2009 was approximately USD 55.4 million for an average cost per ton sold of USD 31.83.

6. For the three and twelve months ended December 31st 2009, the Company's net loss was approximately USD 24.5 million and USD 78.6 million respectively. The loss on the sale of the surface mining operations and an impairment charge related to the Company's underground development projects contributed approximately USD 36.4 million and USD 21.9 million to the total year to date loss respectively.