JRCC » Topics » (10) SALES COMMITMENTS AND MAJOR CUSTOMERS

This excerpt taken from the JRCC 8-K filed Jun 6, 2005.

(10)  SALES COMMITMENTS AND MAJOR CUSTOMERS

As of December 31, 2004, the Company has long-term sales agreements (terms ranging from $21 to $26 per ton) to supply coal within minimum and maximum tonnages which are as follows:


 
         Tons
    

 
         Minimum
     Maximum
Year ended December 31:
                                                 
2005
                    2,601,555              3,410,000   
2006
                    2,116,500              2,853,500   
2007
                    950,000              2,350,000   
2008
                    950,000              2,350,000   
2009
                    950,000              1,250,000   
 
                    7,568,055              12,213,500   
 

The Company operates one business segment, the mining of coal. Shipments to four customers accounted for 48.8%, 20.4%, 19.7%, and 10.6%, respectively, of coal sales during the year ended December 31, 2004.

Accounts receivable at year end from these four customers represented 38.2%, 16.1%, 23.5%, and 20.9%, respectively, of total accounts receivable.

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