Universal Coal operating cash flow for the same period is A$29 million, up 180% from 2016.
Universal Coal sales and operating cash flow:
Estimated coal sales for the financial year ended 30 June 2017:
Universal Coal operating cash flow for the 2017 financial year is anticipated to be A$29 million (2016: A$10.4 million), up 180% owing to improved production results and lower cost stripping activities at Kangala.
Attributable operating cash flow generated is anticipated to be A$19.6 million (2016: A$7.6 million) an improvement of 258%.
Cash flow generating ability is now being demonstrated with the strong production performance from Kangala and New Clydesdale now starting to contribute meaningfully to the Universal Coal.
The quarterly activities report will be released to the market in due course and within stipulated time frames.
EBITDA for the 2017 financial year is expected to be 91% higher than the previous financial year at A$26 million (2016: A$13.6 million), subject to the annual audit, which will be completed and results released to the market by 30 September, 2017.
Daryl Edwards, the current CFO, has relocated to Australia and has been replaced as CFO by Celeste van Tonder, appointed effective 3 July 2017 and will be based in the South African operational office.
Van Tonder, a chartered accountant, brings considerable experience in multi-jurisdictional listed environments (ASX, JSE and AIM) and integrated reporting, further strengthening the executive team of at the company.
Feature image credit: Universal Coal