CanAm Coal Corp. announced audited consolidated earnings results for the fourth quarter and year ended December 31, 2013. For the quarter, the company reported revenue of $14,892,211 against $14,553,219 a year ago. Loss from mining operations was $226,311 against income from mining operations of $138,615 a year ago. Loss before tax was $4,732,606 against $3,346,463 a year ago. Loss attributable to owners of the parent was $4,215,888 against $2,574,628 a year ago. EBITDA from operations was $2,650,132 against $2,787,335 a year ago.

For the year, the company reported revenue of $62,235,619 against $55,392,400 a year ago. Income from mining operations was $1,106,660 against $1,370,584 a year ago. Loss before tax was $10,632,983 against $8,028,931 a year ago. Loss attributable to owners of the parent was $8,443,475 against $6,218,343 a year ago. EBITDA from operations was $10,519,934 against $9,855,018 a year ago. Operating cash flow, after WC changes was $10.0 million against $6.1 million a year ago. Excluding one-time impairment and other charges recorded in 2013 and 2012, net loss for the year was $6.1 million and $3.9 million respectively.

For 2014, the company expects to continue on its path of steady growth and is targeting an increase of coal sales of approximately 10%. With 95% of 2014 production under contract, the company is well positioned to deliver on the anticipated sales and revenue growth. With an increase in sales and the company's continued focus on operating efficiency, it is expected that EBITDA from operations will grow in 2014. The company believes that its existing equipment fleet is sufficient for the foreseeable future to support the existing mine plan and has therefore positioned the company well from a capital expenditures perspective. On this basis, no significant new equipment purchases are planned for 2014. On the basis of the forgoing and the fact that the majority of 2014 production has been sold into off-take contracts, the company expects to consistently generate free cash flow in 2014.