Anglo Pacific Group PLC: Kestrel Royalty Update
LONDON, UNITED KINGDOM--(Marketwired - Jun 10, 2016) - Anglo Pacific Group PLC (TSX: APY) (LSE: APF)
LSE: APF; TSX: APY
News Release
June 10, 2016
Anglo Pacific Group PLC
Kestrel Royalty Update
Anglo Pacific Group PLC ("Anglo Pacific", the "Company" or the "Group") (LSE: APF, TSX: APY), the London and Toronto listed royalty company, provides the following update in relation to its Kestrel royalty.
The latest forecast information provided by Rio Tinto, as part of the Group's information rights in relation to forward guidance at Kestrel, indicates mining within the Group's private royalty lands for H1 2016 will be approximately 20-25% rather than the 30-35% previously guided. The Company understands that this is due to the delayed commencement of mining of longwall panel 404, which is largely within the Group's private royalty area, and is now expected to commence at the beginning of H2 2016. We expect mining within the Group's private royalty land will be approximately 85-90% in H2 2016 resulting in significantly higher volumes than H1 2016 and continue to anticipate that total mining within the Group's private royalty land in 2016 will be approximately 60-65% as previously guided.
For further information:
| Anglo Pacific Group PLC | +44 (0) 20 3435 7400 | |
| Julian Treger - Chief Executive Officer Kevin Flynn - Chief Financial Officer and Company Secretary | ||
| Website: | http://www.anglopacificgroup.com/ | |
| BMO Capital Markets Limited | +44 (0) 20 7664 8020 | |
| Jeffrey Couch / Neil Haycock / Tom Rider | ||
| Macquarie Capital (Europe) Limited | +44 (0) 20 3037 2000 | |
| Raj Khatri / Nicholas Harland / Ariel Tepperman | ||
| Peel Hunt LLP | +44 (0) 20 7418 8900 | |
| Matthew Armitt / Ross Allister | ||
| Bell Pottinger | +44 (0) 20 3772 2500 | |
| Nick Lambert / David Bass / Richard Crowley | ||
Notes to Editors
About Anglo Pacific
Anglo Pacific Group PLC is a global natural resources royalty company. The Company's strategy is to develop a leading international diversified royalty company with a portfolio centred on base metals and bulk materials, focusing on accelerating income growth through acquiring royalties on projects that are currently cash flow generating or are expected to be within the next 24 months. It is a continuing policy of the Company to pay a substantial portion of these royalties to shareholders as dividends.
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