James River Coal -4.7% AH as it delays 10-K, can't make interest payment

|By:, SA News Editor

James River Coal (JRCC) -4.7% AH after announcing that it is filing to delay its annual 10-K report because of accounting and reporting issues related to its strategic review process and previously announced adjustments to its mining operations, including the closure and idling of mines.

JRCC says its auditors have said that if they were to deliver an audit opinion based on current conditions, the opinion would contain a going concern qualification.

Also says it is unable to make interest payments on $230M of 3.125% convertbile senior notes due 2018.