Trading Update (3755H)

TIDMATH

RNS Number : 3755H

ATH Resources plc

26 May 2011

 
 Press release   26 May 2011

ATH Resources plc

("ATH Resources" or "the Group")

Trading Update

ATH Resources plc (AIM:ATH), one of the UK's largest coal producers, today announces that progress in opening up the Group's Netherton site to full production continues, with development of Duncanziemere site due to commence during this summer as planned. However, unanticipated quantities of heat affected coal in the initial excavation area at Netherton combined with the excavation of an area at the Group's Muir Dean site which has a high concentration of old workings have reduced sales volumes in recent weeks. Initial assessments would indicate that this situation is likely to continue until excavations progress away from the affected areas. The Group is undertaking a full review and expects to provide a further update in its interim results statement on 14 June 2011.

Given these recent developments and their impact on trading performance together with the continuing high cost of gas oil and the need to make the planned investment in Duncanziemere, the Board has taken the decision not to declare an interim dividend for 2011.

- Ends -

For further information:

 
 ATH Resources plc 
 David Port, Executive Chairman       Tel: +44 (0) 7836 693798 
  Alistair Black, Chief Executive    Tel: +44 (0) 1302 760 462 
                                                 www.ath.co.uk 
 
 
 Seymour Pierce Ltd 
 Sarah Jacobs / John Cowie (Nominated   Tel: +44 (0) 207 107 8000 
  Adviser) 
 Richard Redmayne / Katie Ratner 
  (Broker) 
                                            www.seymourpierce.com

Media enquiries:

 
 Abchurch 
 Sarah Hollins / Mark Dixon      Tel: +44 (0) 207 398 7729 
 mark.dixon@abchurch-group.com      www.abchurch-group.com

Notes to Editors

ATH Resources was listed on the AIM market of the London Stock Exchange in June 2004 and operates three surface coal mines in Scotland; Skares Road, in East Ayrshire, Glenmuckloch in Dumfries and Galloway and Muir Dean in Fife. The Group is currently one of the largest producers 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 Group holds coal supply contracts with four of the UK's main electricity generating companies.

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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