VANCOUVER, British Columbia, May 14, 2014 (GLOBE NEWSWIRE) -- Coalspur Mines Limited ("Coalspur" or "Company") (ASX:CPL) (TSX:CPT) announced today that it has filed the unaudited consolidated interim financial report and Management Discussion and Analysis ("MD&A") for the three months ended March 31, 2014 (together, the "Interim Financial Report"). The Interim Financial Report provides an update on the Company's financial position and activities, including the fact that it no longer intends to commence construction in June 2014, due to delays in securing all financing and permits necessary for the development of Phase 1 of the Vista project ("Vista").
The Alberta Energy Regulator approved Vista on February 27, 2014 and subsequently issued a mine permit, processing plant approval and pit and dump licences. The Company continues to work with regulators to finalize the few remaining permits and licences. The Company is progressing its funding plans for Vista and is in advanced discussions with potential strategic investors relating to its future financing. The Company is also considering other financing alternatives and will provide an update on its expected schedule for construction and operations based on the outcome of those discussions. No assurance can be given at this stage that any definitive agreements or arrangements will be entered into with any party.