Pardee Resources Company: Pardee Coal Operator Idles Mines

Rhea-AI Summary

Pardee Resources (OTC: PDER) said Greenbrier Minerals issued a WARN notice on Feb 13, 2026, planning to idle seven coal mines and lay off 530 employees around mid-April.

The company warned this will likely have a material negative impact on 2026 results because those mines were expected to generate $4–5 million in full-year revenue; Pardee said it will seek replacement production but gave no guarantee.

Positive

• None.

Negative

• Expected full-year revenue loss of $4–5 million
• Idling of seven mines on company property
• Layoff of 530 employees expected around mid-April
• Likely material negative impact on 2026 operating results

RADNOR, Pa., Feb. 16, 2026 /PRNewswire/ -- Pardee Resources Company (OTC: PDER) (the "Company") announced today that Greenbrier Minerals ("Greenbrier"), a coal operator on one of the Company's properties located in Logan County, West Virginia, issued a Worker Adjustment Retraining Notification ("WARN") Notice on Friday, February 13, 2026. The WARN Notice indicates that Greenbrier, through various subsidiary companies, intends to idle seven coal mines, including several located on the Company's Logan County property, and begin laying off 530 employees around mid-April. Greenbrier claims the layoffs are due to "the current adverse market conditions". This action is likely to have a material negative impact on the Company's 2026 operating results as these mines were expected to generate between $4-5 million in revenues for the full year. While Pardee intends to work diligently to replace this production on its properties going forward, there can be no guarantee that it will be successful in doing so.

In addition to historical statements, this press release contains statements relating to future events and our future results. These statements are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our judgments and future expectations concerning our business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to, the risk that the jury award could be reduced or reversed or that the Company may be unable to collect on any judgment in full or at all. As a result, these forward-looking statements may turn out to be incorrect. We are under no obligation to (and expressly disclaim any obligation to) update or alter these forward-looking statements whether as a result of new information, future events or otherwise.

View original content:https://www.prnewswire.com/news-releases/pardee-resources-company-pardee-coal-operator-idles-mines-302688902.html

SOURCE Pardee Resources Company

FAQ

What did Pardee Resources (PDER) announce about the Feb 13, 2026 WARN notice?

Pardee said Greenbrier issued a WARN on Feb 13, 2026, to idle seven mines and lay off 530 employees. According to the company, the idled mines include operations on Pardee's Logan County property and layoffs are expected around mid-April.

How much revenue will Pardee (PDER) likely lose from the idled mines in 2026?

Pardee expects the idled mines to generate about $4–5 million in revenue for the full year. According to the company, losing that production is likely to have a material negative impact on 2026 operating results.

When will the layoffs related to the Greenbrier WARN notice affect Pardee Resources (PDER)?

Layoffs are expected to begin around mid-April 2026 as stated in the WARN notice. According to the company, the notice was issued Feb 13, 2026, and covers 530 employees across multiple subsidiary operations.

Will Pardee Resources (PDER) replace the lost production from the idled mines?

Pardee said it intends to work to replace the lost production but gave no assurance of success. According to the company, there can be no guarantee it will successfully replace the volumes or revenue.

What immediate financial impact did Pardee (PDER) warn investors about from the mine idlings?

The company warned of a likely material negative impact on 2026 operating results tied to $4–5 million in expected revenue. According to the company, this estimate reflects the lost contribution from the idled Logan County mines.