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The Company operates in a rapidly changing environment that involves a number of risks.
−Removed: The risk factor set forth below updates the corresponding risk factor previously disclosed in Part I, Item 1A.
−Removed: “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 filed with the SEC on February 24, 2023.
−Removed: Risks inherent to mining could increase the cost of operating the Company’s business, and events and conditions that could occur during the course of its mining operations could have a material adverse impact on the Company.
−Removed: The Company’s mining operations are subject to conditions that can impact the safety of its workforce, delay coal deliveries or increase the cost of mining at particular mines for varying lengths of time.
−Removed: These conditions include:
−Removed: • elevated gas levels;
−Removed: • fires and explosions, including from methane gas or coal dust;
−Removed: • accidental mine water discharges;
−Removed: • weather, flooding and natural disasters;
−Removed: • hazardous events such as roof falls and high wall or tailings dam failures;
−Removed: • seismic activities, ground failures, rock bursts or structural cave-ins or slides;
−Removed: • key equipment failures;
−Removed: • supply chain constraints or unavailability of equipment or parts;
−Removed: • variations in coal seam thickness, coal quality, the amount of rock and soil overlying coal deposits and geologic conditions impacting mine sequencing;
−Removed: • delays in moving its longwall equipment;
−Removed: • unexpected maintenance problems;
−Removed: • unforeseen delays in implementation of mining technologies that are new to its operations.
−Removed: In this regard, on March 29, 2023, the Company’s Shoal Creek Mine in Alabama experienced a fire involving void fill material utilized to stabilize the roof structure of the mine.
−Removed: Mining operations were suspended in March 2023 and it is uncertain when or if mining operations will restart.
−Removed: If after exploring all reasonable mine-planning steps focused on resuming mining activities at the Shoal Creek Mine the Company determines that it is unable to extract coal from all or a significant portion of the mine, the Company’s results of operations, financial condition and cash flows could be materially and adversely impacted.
−Removed: In addition, the costs that may be incurred to address the impacts of the fire and to return the mine to active operations (if the mine returns to active operations) are uncertain and could be significant.
−Removed: The Company maintains insurance policies that provide limited coverage for losses associated with the events at the Shoal Creek Mine, as well as some of the other risks referenced above, which may lessen the impact associated with these events and risks.
−Removed: However, there can be no assurance as to the amount or timing of recovery under its insurance policies in connection with losses associated with these events and risks.
−Removed: For information regarding other factors that could affect the Company's results of operations, financial condition and liquidity, see the risk factors disclosed in Part I, Item 1A.
−Removed: “Risk Factors” in its Annual Report on Form 10-K for the year ended December 31, 2022 filed with the SEC on February 24, 2023.
+Added: For information regarding factors that could affect the Company's results of operations, financial condition and liquidity, see the risk factors disclosed in Item 1A.
+Added: “Risk Factors” of Part II of its Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 filed with the SEC on May 4, 2023, and Item 1A.
+Added: “Risk Factors” of Part I of its Annual Report on Form 10-K for the year ended December 31, 2022 filed with the SEC on February 24, 2023.
In addition to the other information set forth in this Quarterly Report, including the information presented in Part I, Item 2.
−Removed: “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” you should carefully consider the risk factors disclosed in the aforementioned filing, which could materially affect the Company’s results of operations, financial condition and liquidity.
+Added: “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” you should carefully consider the risk factors disclosed in the aforementioned filings, which could materially affect the Company’s results of operations, financial condition and liquidity.
Factors that could affect the Company’s results or an investment in the Company’s securities include, but are not limited to:
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.