ATH Ath Resources

RNS Number:6440L
ATH Resources plc
14 January 2008




Press Release                                                    14 January 2008



                               ATH Resources plc

                             ("ATH" or "the Group")


                              Grievehill Extension


ATH Resources plc is pleased to announce that the Scottish Executive Planning
Department has advised East Ayrshire Council that planning permission for the
extension to the Grievehill opencast coal site can be issued.  The Company
intends to implement the consent forthwith to meet is production plans.



For further information:
ATH Resources plc
Tom Allchurch, Chief Executive                         Tel: +44 (0) 1302 760 462
tom@ath.co.uk                                                      www.ath.co.uk



Media enquiries:
Abchurch                               
Charlie Jack / George Parker                           Tel: +44 (0) 20 7398 7706
georgeparker@abchurch-group.com                           www.abchurch-group.com





Notes to Editors

ATH Resources is an AIM-listed operator of opencast coal mines in the UK with
its current three operational mines, Skares Road, Grievehill and Garleffan,
located 8km from New Cumnock, East Ayrshire in Scotland.  The Company is
currently the third largest producer of coal in the UK producing approximately
1.7 million tonnes per annum.  Coal was used to generate 37 per cent of the UK's
electricity in 2006 and the Company holds coal supply contracts with four of the
UK's main electricity generating companies.

The management team has been in place since 1998.  It acquired the rights to
operate (and subsequently acquire) the Skares Road mine with support from The
Alchemy Plan. Following ATH Resources' incorporation in October 2003, and backed
by a follow on investment from The Alchemy Plan, the Company acquired the
Garleffan mine in November 2003.  ATH Resources listed on the AIM market of the
London Stock Exchange in June 2004.

In June 2005, having raised �18 million by way of an Open Offer, the Group
acquired two new opencast sites, Grievehill and Glenmuckloch in Scotland. The
acquisition increased the Group's reserve base by 160% and provided longer term
stability to the business.

In addition to its operating mines, the Company also has a number of other coal
mining projects in Scotland and two through its French subsidiary, SRMMC
including a series of six existing coal concessions in south-central France,
covering an area of 36km, 2 with an estimated resource of approximately 4.5
million tonnes of recoverable coal.

In May 2006, the Group acquired Doncaster-based A Ogden & Sons Limited a
successful coal recovery, land remediation and regeneration business with a
particular focus on colliery spoil heap reclamation projects.  ATH paid net �9.5
million for the business.  The acquisition, which was earnings enhancing,
allowed ATH to build on its skills as a regenerator of land, whilst developing
strong relationships with key English planning authorities.  The Company has
been successfully integrated into the Group. The operational diversification
that the acquisition brings to the Group will be a significant driver of ATH's
organic growth going forward.

For the year ending 1 October 2006, the Group achieved turnover of �54.1
million, an increase of 38% on ATH's 2005 year end and EBITDA of �19.2 million,
an increase of 68% on ATH's 2005 year end.

Further information on ATH Resources can be found at www.ath.co.uk




                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

MSCSFMFMFSASELF

ATH Resources (LSE:ATH)
Historical Stock Chart
From Jul 2024 to Aug 2024

ATH Resources (LSE:ATH)
Historical Stock Chart
From Aug 2023 to Aug 2024