LLEN Expects Mining Segment to Improve Materially in 4Q
L&L's Chief Financial Officer, Ian Robinson, commented, "We incurred a temporary reduction in our coal production during this quarter due to government mandated enhanced standards and safety inspections. The seasonal Chinese New Year holiday also affected the third quarter's production. All of our three Guizhou mines (LuoZhou, Lashu and Weishe) passed their government inspections and are now open and running. We expect our mining segment, which is the primary driver of our earnings, to improve materially in the fourth quarter. In spite of these challenges management has displayed their ability to overcome and deliver $0.09 this quarter. Our 9 month mining revenues are also up 25% year-over-year."