Winsway Coking Coal Holdings Limited provided earnings guidance for the year ended 31 December 2013. The board of directors of the Company informed shareholders and potential investors of the Company that after a preliminary review of the Group's unaudited consolidated management accounts for the financial year ended 31 December 2013, the Group is expected to record a materially increased consolidated loss for the financial year ended 31 December 2013 as compared to the consolidated loss recorded for the financial year ended 31 December 2012. Having considered the market conditions and other factors the Board believes that the deterioration in the Group's performance during the year ended 31 December 2013 compared to the financial year ended 31 December 2012 is primarily attributable to: adoption of the new IFRIC interpretation - IFRIC 20, Stripping costs in the production phase of a surface mine; the price of coking coal falling to and remaining at recent historical lows in the Company's principal market, the People's Republic of China, resulting from continuous weakness in demand for coking coal from steel mills and coke plants in the PRC under sluggish economic conditions; and the one-off impairment charges in respect of the Company's interest in its material asset, its 60% owned subsidiary, Grande Cache Coal Corporation.