Winsway Coking Coal Holdings Limited provided earnings guidance for the year ended December 31, 2012. For the year, the group is expected to record a consolidated loss for the financial year ended 31 December 2012 as compared to a consolidated profit recorded for the financial year ended 31 December 2011. The Board has considered the market conditions and other factors that impacted the Group's results compared to the financial year ended 31 December 2011, and believes that the performance is primarily attributable to: a decrease in the price of and a fall in demand for coking coal in the company's principal market, the People's Republic of China, in 2012 as a result of a decline in demand from steel mills and coke plants under sluggish economic conditions; an increase in the Group's finance costs due to the issue of senior notes in April 2011; and an increase in the Group's finance costs and transaction expenses due to the acquisition of Grand Cache Coal Corporation in March 2012.