Planning Application
September 15 2008 - 2:00AM
UK Regulatory
RNS Number : 3760D
ATH Resources plc
15 September 2008
Press Release 15 September 2008
ATH Resources plc
("ATH" or "the Group")
Planning application
ATH Resources plc (AIM:ATH), one of the UK's largest coal producers, is pleased to announce that it has applied for planning permission
to mine a further 0.6 million tonnes of coal at its Skares Road site in East Ayrshire.
Tom Allchurch, Chief Executive of ATH Resources, said: "This application is a further step in increasing the Group's reserve base.
Production is expected to commence in 2009 and will extend the productive life of our Skares Road site to a total of 12 years."
-Ends-
For further information:
ATH Resources plc
Tom Allchurch, Chief Executive Tel: +44 (0) 1302 760 462
tom.allchurch@ath.co.uk www.ath.co.uk
Evolution Securities Limited
Joanne Lake/Peter Steel Tel: +44 (0)113 243 1619
joanne.lake@evosecurities.com www.evosecurities.com
Media enquiries:
Abchurch
Charlie Jack / George Parker Tel: +44 (0) 20 7398 7700
george.parker@abchurch-group.com www.abchurch-group.com
Notes to Editors
ATH Resources is an AIM-listed operator of surface coal mines in the UK with five operational mines in Scotland; Skares Road, Grievehill
and Laigh Glenmuir in East Ayrshire, Glenmuckloch in Dumfries and Galloway and Muir Dean in Fife. The Company is currently the third largest
producer of coal in the UK producing approximately 2 million tonnes per annum. Coal is used to generate around a third of the UK's
electricity and the Company holds coal supply contracts with three 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. Garleffan is currently being restored having finished coaling in June 2006.
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%.
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 36km2, with an estimated
resource of approximately 4.5 million tonnes of recoverable coal.
In May 2006, the Group acquired ATH Regeneration a successful coal recovery, land remediation and regeneration business with a
particular focus on colliery spoil heap reclamation projects. 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 both in the UK and overseas.
For the year ending 30 September 2007, the Group achieved turnover of �70.5 million, an increase of 30% on its 2006 year end, while
EBITDA was up 31% to �25.1 million for the same period.
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
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