Boston, MA 10/18/2013 (wallstreetpr) – With the highly anticipated release of the financial results for the last quarter of the financial year, Arch Coal Inc (NYSE:ACI), has recorded mixed reactions at the stocks exchange fluctuating over the last 2 days to hit highs of $4.30 and lows of just under $3.90. However the company has more to boast about other than the embarrassing fluctuating stock. Recently the company achieved a major milestone at its West Elk mines. Workers in that particular mine reported the 2 millionth consecutive hour free from work related injury. This was a historic safety fete in this particular field.
Even better, the company also managed to settle a long court battle that they were facing against the Patriot Coal Corporation. This saw the company save up to $5 million that they were expected to pay to the Patriot Coal Corporation once they recovered from bankruptcy. The company also managed to acquire the Gulf property from the same competitor at cost of $16 million. This will see the company extend the life of its leer mine by a further 3 years not to mention it will also be able to meet the demand of coal looming in the horizon.
The company has also been successful with its employees. Recently the director of engineering and technical services at the Eastern wing Mr. John McDaniel recently received an engineering professional award named ‘Because Of You’ at West Virginia Miners’ conference. This was a major achievement for both the individual and the company. It goes to prove that the company is not only doing well in terms of finance, but also in its work force. The company’s upward trend seems to continue considering that the company has more than 5 billion tons of coal in its reserves and a lot of investors salivating over the attractive numbers that the company is set to post when the third quarter financial results are released.
