8-K
Hallador Energy Co (HNRG)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 21, 2020 (January 20, 2020)
Hallador Energy Company
(Exact name of registrant as specified in its charter)
| Colorado | 001-34743 | 84-1014610 |
|---|---|---|
| (State or other jurisdiction<br> <br>of incorporation) | (Commission<br> <br>File Number) | (IRS Employer<br> <br>Identification No.) |
| 1183 East Canvasback Drive, Terre Haute, Indiana 47802 |
| --- | | (Address, including zip code, of principal executive offices) |
Registrant’s telephone number, including area code: (303) 839-5504
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol | Name of each exchange<br> <br>on which registered |
| --- | --- | --- | | Common Shares, $.01 par value | HNRG | Nasdaq |
Item 8.01 – Other Events
On January 20, 2020, we announced the idling of our Carlisle Mine in Sullivan Co., Indiana. A copy of the press release is attached hereto at Exhibit 99.1.
Item 9.01 – Financial Statements and Exhibits
(d) Exhibits
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| | ||
|---|---|---|
| January 21, 2020 | By: | /s/LAWRENCE D. MARTIN |
| Lawrence D. Martin<br> <br>CFO |
Exh\_99
Exhibit 99.1
NEWS RELEASE
Hallador Energy to Idle Carlisle Mine in Sullivan Co., Indiana
January 20, 2020 – Terre Haute, IN -Hallador Energy Company (Nasdaq: HNRG) announced today that its wholly owned subsidiary Sunrise Coal, LLC, is temporarily idling production at its Carlisle Mine in Sullivan County, Indiana, resulting in an immediate reduction in force of 90 full-time employees.
"Unfortunately, weak market conditions have resulted in an over-supply of domestic coal, which necessitates that we reduce our production," said Larry D. Martin, Chief Financial Officer of Hallador Energy Company. "The employees who are affected by this action are a part of the Sunrise family, and we regret the impact this will have on their families and the community. We thank them for their dedication and service."
As a result of today's announcement, Hallador will be shifting production to its lower cost operations at Oaktown, Indiana, and reducing its sales guidance to 7.0 million tons for 2020.
The company is assessing if it has incurred any impairment on its Carlisle Mine, and if so, this amount will be reported on its Form 10-K in early March.
About Hallador Energy Company
Hallador is headquartered in Terre Haute, Indiana and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador, visit our website at www.halladorenergy.com.
Contact: Investor Relations
Phone: 303.839.5504
E-mail: [email protected]