Announcement • Jun 04
Motion for Case Dismissal Filed for Wilson Creek Energy, LLC Wilson Creek Energy filed a motion in the US Bankruptcy Court seeking the dismissal of its Chapter 11 bankruptcy case on June 3, 2025. the reason for its dismissal is in the Best Interests of the Debtors’ Estates and the Creditors. Announcement • Jan 07
Wilson Creek Energy, LLC Filed for Bankruptcy Wilson Creek Energy, LLC, along with its 10 affiliates, filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court for the Western District of Pennsylvania on January 6, 2025. The debtor listed its assets in the range of $50 million to $100 million and liabilities in the range of $10 million to $50 million. The debtor is represented by Michael J. Roeschenthaler of Raines Feldman Littrell LLP, and Stikeman Elliott LLP as its legal counsels. The debtor also hired BDO USA as its financial advisor, PricewaterhouseCoopers LLP as its Canadian information officer, and Omni Agent Solutions, Inc. as its claims and noticing agent. Reported Earnings • Nov 27
Third quarter 2024 earnings released: US$0.09 loss per share (vs US$0.19 profit in 3Q 2023) Third quarter 2024 results: US$0.09 loss per share (down from US$0.19 profit in 3Q 2023). Revenue: US$43.3m (down 15% from 3Q 2023). Net loss: US$9.07m (down 147% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 29
Second quarter 2024 earnings released: US$0.09 loss per share (vs US$0.077 profit in 2Q 2023) Second quarter 2024 results: US$0.09 loss per share (down from US$0.077 profit in 2Q 2023). Revenue: US$36.8m (down 34% from 2Q 2023). Net loss: US$9.49m (down 219% from profit in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. New Risk • Aug 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (CA$25.4m market cap, or US$18.3m). Reported Earnings • May 30
First quarter 2024 earnings released: US$0.08 loss per share (vs US$0.019 profit in 1Q 2023) First quarter 2024 results: US$0.08 loss per share (down from US$0.019 profit in 1Q 2023). Revenue: US$36.0m (down 25% from 1Q 2023). Net loss: US$8.19m (down US$10.1m from profit in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Apr 20
Corsa Coal Corp., Annual General Meeting, Jun 26, 2024 Corsa Coal Corp., Annual General Meeting, Jun 26, 2024. New Risk • Mar 15
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 1,649% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (CA$35.3m market cap, or US$26.1m). Reported Earnings • Mar 13
Full year 2023 earnings released: EPS: US$0.23 (vs US$0.27 loss in FY 2022) Full year 2023 results: EPS: US$0.23 (up from US$0.27 loss in FY 2022). Revenue: US$197.1m (up 19% from FY 2022). Net income: US$23.6m (up US$51.3m from FY 2022). Profit margin: 12% (up from net loss in FY 2022). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. New Risk • Jan 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (CA$41.5m market cap, or US$30.8m). New Risk • Nov 09
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 251% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Large one-off items impacting financial results. Significant insider selling over the past 3 months (CA$73k sold). Market cap is less than US$100m (CA$47.2m market cap, or US$34.2m). Announcement • Nov 02
Corsa Coal Corp. Provides Sales Volume Guidance for the Fourth Quarter of 2023 Corsa Coal Corp. provided sales volume guidance for the fourth quarter of 2023. For the period, the company expects sales volumes are expected to be lower than the third quarter of 2023 due to decreased production from deep mines in the previous quarter and decreased availability of purchased coals. Reported Earnings • Nov 02
Third quarter 2023 earnings released: EPS: US$0.19 (vs US$0.043 loss in 3Q 2022) Third quarter 2023 results: EPS: US$0.19 (up from US$0.043 loss in 3Q 2022). Revenue: US$51.1m (up 11% from 3Q 2022). Net income: US$19.4m (up US$23.9m from 3Q 2022). Profit margin: 38% (up from net loss in 3Q 2022). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth. New Risk • Aug 16
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 45% per year over the past 5 years. Minor Risk Market cap is less than US$100m (CA$74.7m market cap, or US$55.3m). Reported Earnings • Aug 10
Second quarter 2023 earnings released: EPS: US$0.077 (vs US$0.029 loss in 2Q 2022) Second quarter 2023 results: EPS: US$0.077 (up from US$0.029 loss in 2Q 2022). Revenue: US$55.3m (up 31% from 2Q 2022). Net income: US$7.98m (up US$11.0m from 2Q 2022). Profit margin: 14% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Jul 26
Now 24% undervalued Over the last 90 days, the stock is up 69%. The fair value is estimated to be CA$0.65, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.5% over the last 3 years. Meanwhile, the company became loss making. New Risk • Jun 16
New major risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 17% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 56% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (17% average weekly change). Market cap is less than US$100m (CA$34.1m market cap, or US$25.8m). Announcement • May 07
Corsa Coal Corp. Provides Sales Guidance for the Second Quarter of 2023 Corsa Coal Corp. provided sales guidance for the second quarter of 2023. The company's second quarter 2023 sales volumes are expected to be higher than the first quarter of 2023 due to increased production from its surface mines and higher than historical levels. Reported Earnings • Apr 14
Full year 2022 earnings released: US$0.27 loss per share (vs US$0.016 profit in FY 2021) Full year 2022 results: US$0.27 loss per share (down from US$0.016 profit in FY 2021). Revenue: US$165.9m (up 26% from FY 2021). Net loss: US$27.7m (down US$29.3m from profit in FY 2021). Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Jan 05
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 41%. The fair value is estimated to be CA$0.26, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 20% over the last 3 years. Meanwhile, the company became loss making. Buying Opportunity • Dec 20
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 26%. The fair value is estimated to be CA$0.26, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 20% over the last 3 years. Meanwhile, the company became loss making. Buying Opportunity • Nov 23
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 29%. The fair value is estimated to be CA$0.28, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 20% over the last 3 years. Meanwhile, the company became loss making. Announcement • Nov 19
Corsa Coal Announces Board Changes Corsa Coal Corp. announced that, effective November 18, 2022, Ronald G. Stovash has been named Chair of the Board of Directors of the Company. Mr. Stovash succeeds Robert (Bo) Sturdivant, who is retiring as a director of the Company effective December 31, 2022. Mr. Stovash has served as a director of Corsa since 2013, a member of the Health, Safety, and Environment Committee since 2013, a member of the Governance, Nominating, and Compensation Committee since 2013 and Committee Chair since 2014, and member of the Audit Committee since 2016. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 4 highly experienced directors. Chairman of the Board Bo Sturdivant was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 04
Third quarter 2022 earnings released: US$0.04 loss per share (vs US$0.009 profit in 3Q 2021) Third quarter 2022 results: US$0.04 loss per share (down from US$0.009 profit in 3Q 2021). Revenue: US$45.9m (up 26% from 3Q 2021). Net loss: US$4.48m (down US$5.41m from profit in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Buying Opportunity • Oct 28
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 5.9%. The fair value is estimated to be CA$0.32, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 27% over the last 3 years. Meanwhile, the company became loss making. Buying Opportunity • Sep 19
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 18%. The fair value is estimated to be CA$0.36, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 27% over the last 3 years. Meanwhile, the company became loss making. Buying Opportunity • Aug 22
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 19%. The fair value is estimated to be CA$0.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 27% over the last 3 years. Meanwhile, the company became loss making. Announcement • Aug 06
Corsa Coal Corp. to Report Q3, 2022 Results on Nov 02, 2022 Corsa Coal Corp. announced that they will report Q3, 2022 results After-Market on Nov 02, 2022 Reported Earnings • Aug 05
Second quarter 2022 earnings released: US$0.029 loss per share (vs US$0.023 profit in 2Q 2021) Second quarter 2022 results: US$0.029 loss per share (down from US$0.023 profit in 2Q 2021). Revenue: US$42.3m (up 39% from 2Q 2021). Net loss: US$2.97m (down 232% from profit in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has fallen by 24% per year, which means it is performing significantly worse than earnings. Announcement • Jun 03
Corsa Coal Corp. to Report Q2, 2022 Results on Aug 03, 2022 Corsa Coal Corp. announced that they will report Q2, 2022 results After-Market on Aug 03, 2022 Reported Earnings • May 13
First quarter 2022 earnings released: US$0.04 loss per share (vs US$0.046 loss in 1Q 2021) First quarter 2022 results: US$0.04 loss per share (up from US$0.046 loss in 1Q 2021). Revenue: US$38.8m (up 57% from 1Q 2021). Net loss: US$3.98m (loss narrowed 9.2% from 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 31% per year whereas the company’s share price has fallen by 27% per year. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 4 highly experienced directors. Chairman of the Board Bo Sturdivant was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 04
Full year 2021 earnings: Revenues miss analyst expectations Full year 2021 results: Revenue: US$131.5m (up 2.3% from FY 2020). Net income: US$1.55m (up US$58.3m from FY 2020). Profit margin: 1.2% (up from net loss in FY 2020). Production and reserves: Coal Production: 0.74 Mt (0.913 Mt in FY 2020) Number of mines: 4 (4 in FY 2020) Revenue missed analyst estimates by 6.2%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Board Change • Feb 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 4 highly experienced directors. Chairman of the Board Bo Sturdivant was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Feb 02
Corsa Coal Announces Retirement of Peter V. Merritts as Chief Operating Officer Corsa Coal Corp. announced that Peter V. Merritts has retired from his position as the Chief Operating Officer, effective February 1, 2022. Reported Earnings • Nov 05
Third quarter 2021 earnings released: EPS US$0.01 (vs US$0.038 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$36.4m (up 56% from 3Q 2020). Net income: US$933.0k (up US$4.52m from 3Q 2020). Profit margin: 2.6% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 94 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS US$0.023 (vs US$0.36 loss in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: US$30.4m (down 26% from 2Q 2020). Net income: US$2.24m (up US$36.6m from 2Q 2020). Profit margin: 7.4% (up from net loss in 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 90 percentage points per year, which is a significant difference in performance. Reported Earnings • May 08
First quarter 2021 earnings released: US$0.05 loss per share (vs US$0.065 loss in 1Q 2020) The company reported a soft first quarter result with weaker revenues and control over costs, although losses reduced. First quarter 2021 results: Revenue: US$24.6m (down 47% from 1Q 2020). Net loss: US$4.38m (loss narrowed 29% from 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 91 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 05
Full year 2020 earnings released: US$0.60 loss per share (vs US$0.029 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: US$128.5m (down 44% from FY 2019). Net loss: US$56.7m (loss widened US$54.0m from FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Dec 11
New 90-day high: CA$0.32 The company is up 37% from its price of CA$0.23 on 11 September 2020. The Canadian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is down 10.0% over the same period. Reported Earnings • Nov 08
Third quarter 2020 earnings released: US$0.04 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: US$23.3m (down 60% from 3Q 2019). Net loss: US$3.59m (down US$4.39m from profit in 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 107% per year but the company’s share price has only fallen by 47% per year, which means it has not declined as severely as earnings. Announcement • Aug 09
Corsa Coal Corp. Provides Update on Earnings Guidance for the Full Year of Fiscal 2020 Corsa Coal Corp. provided update on earnings guidance for the full year of fiscal 2020. For the period, the company provided that The full extent and impact of the COVID-19 pandemic remains unknown and continues to rapidly evolve. Given the extreme volatility in financial markets and commodity prices, along with uncertainty regarding the impact thereof on the future performance of the Company, the Company does not believe it is appropriate to issue full year guidance at this time for fiscal 2020.