Anglo Pacific Group PLC Kestrel Royalty Update (1829U)
October 14 2014 - 2:00AM
UK Regulatory
TIDMAPF
RNS Number : 1829U
Anglo Pacific Group PLC
14 October 2014
October 14, 2014
Anglo Pacific Group PLC
Kestrel Royalty Update
Anglo Pacific Group PLC ("Anglo Pacific" or the "Company") (LSE:
APF, TSX: APY) is pleased to provide an update on Kestrel, the
Company's main producing royalty.
Royalty income from Kestrel for H1 2015 is expected to be
significantly higher than previously assumed based on a recent
update from Rio Tinto, in accordance with the agreement announced
on August 18, 2014.
The Company had previously expected minimal royalty income from
Kestrel for H1 2015, but now expects approximately 22% of
production from Kestrel in H1 2015 to be within the Company's
royalty lands.
Commenting on the Kestrel update, Julian Treger, Chief Executive
Officer, said:
"We are pleased to see an increase in forecast production from
our royalty lands at Kestrel. This is positive news for our cash
flow profile and further underpins the Board's commitment to
maintain our dividend for the current year."
For further information:
Anglo Pacific Group PLC
Julian Treger - Chief Executive
Officer
Mark Potter - Chief Investment
Officer
Peter Mason - Company Secretary +44 (0) 20 3435 7400
Website: www.anglopacificgroup.com
Bell Pottinger
Nick Lambert / Lorna Cobbett +44 (0) 20 3772 2500
Cautionary statement on forward-looking statements and related
information
Certain information contained in this announcement, including
any information as to future financial or operating performance and
other statements that express management's expectation or estimates
of future performance, constitute "forward looking statements". The
words "expects", "anticipates", "plans", "believes", "estimates",
"seeks", "intends", "targets", "projects", "forecasts", or negative
versions thereof and other similar expressions identify
forward-looking statements. Forward-looking statements are
necessarily based upon a number of estimates and assumptions that,
while considered reasonable by management, are inherently subject
to significant business, economic and competitive uncertainties and
contingencies. Further, forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties which could cause actual results to differ materially
from those anticipated, estimated or intended in the
forward-looking statements. Furthermore, this announcement contains
information and statements that are based on certain estimates and
forecasts that have been provided to the Group by Kestrel Coal Pty
Ltd ("KCPL"), the accuracy of which KCPL does not warrant and on
which readers may not rely. The material assumptions and risks
relevant to the forward-looking statements in this announcement
include, but are not limited to: stability of the global economy;
stability of local government and legislative background;
continuing of ongoing operations at the Kestrel Mine in a manner
consistent with past practice; accuracy of public statements and
disclosures (including feasibility studies and estimates of
reserve, resource, production, grades, mine life, and cash cost)
made by the owners and operators of the Kestrel Mine; accuracy of
the information provided to the Group by KCPL; no material adverse
change in the price of the commodities produced from the Kestrel
Mine; no material adverse change in foreign exchange exposure; no
adverse development in respect of the Kestrel Mine, including but
not limited to unusual or unexpected geological formations and
natural disasters; successful completion of new development
projects; planned expansions or additional projects being within
the timelines anticipated and at anticipated production levels; and
maintenance of mining title. If any such risks actually occur, they
could materially adversely affect the Group's business, financial
condition or results of operations. For additional information with
respect to such risks and uncertainties, please refer to the
"Principal Risks and Uncertainties" section of our most recent
Annual Report and to the "Risk Factors" section of our most recent
Annual Information Form available on www.sedar.com and the Group's
website www.anglopacificgroup.com. Readers are cautioned to
consider these and other factors, uncertainties and potential
events carefully and not to put undue reliance on forward-looking
statements. The forward-looking statements contained in this
announcement are made as of the date of this announcement only and
the Group undertakes no obligation to update or revise publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise, after the date on which the statements
are made or to reflect the occurrence of unanticipated events.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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