Corsa Coal Corp. has announced that it has received the resignation of Daniel D. Smith as a director of the Corporation with immediate effect. Ronald G. Stovash succeeds Mr. Smith on Corsa's audit committee.

The company reported audited consolidated earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company reported revenues of $26,564,000 against $51,235,000 a year ago. Adjusted EBITDA was $14,000 compared to adjusted LBITDA of $7,453,000 a year ago. Cash used in operating activities was $2,517,000 compared to cash provided by operating activities of $9,796,000 a year ago. Net loss and comprehensive loss for the period was $106,354,000 against $22,205,000 a year ago.

For the year, the company reported revenues of $129,342,000 against $140,547,000 a year ago. Net and comprehensive loss for the period was $152,989,000 compared to $43,152,000 a year ago. Adjusted EBITDA was $1,667,000 against $5,295,000 a year ago. Cash provided by operating activities was $8,981,000 against cash used in operating activities of $14,194,000 a year ago.

For the year 2016, the company expects coal total sales to be in range of 1,525,000 to 1,825,000 tons.