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Millenco continues to sell off shares of James River Coal
By Lisa Kerner
Charlotte, N.C., Aug. 14 - Millenco, LLC sold 321,796 shares of James River Coal Co. stock on Aug. 13 priced from $4.25 to $4.74 each, according to a schedule 13D filing with the Securities and Exchange Commission.
The investor now owns 621,954 shares of the company's stock, or 3.7% of its outstanding shares. On Aug. 13, Millenco reported the sale of 548,127 shares of the company's stock between June 11 and Aug. 10 priced from $4.66 to $13.27 each and a beneficial ownership of 5.7% of the company.
As previously reported, the Richmond, Va., coal mining company announced on Aug. 8 that it had negotiated amendments to its term and revolving credit agreements. James River Coal said that while the agreements were satisfactory, they did not provide "as much of a cushion" as the company had hoped to gain.
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