LONDON, UNITED KINGDOM--(Marketwired - Aug 13, 2015) - Anglo Pacific Group PLC (TSX: APY) (LSE: APF)
News Release
TSX: APY
August 13, 2015
Anglo Pacific Group PLC
Narrabri production guidance FY2016
Anglo Pacific Group PLC ("Anglo Pacific", or the "Company") (LSE: APF, TSX: APY), the London and Toronto listed royalty company, is pleased to provide an update on its Narrabri royalty following the release of Whitehaven Coal Limited's ("Whitehaven") (ASX: WHC) Full Year to 30 June 2015 Results.
Whitehaven has announced its guidance for Run of Mine ("ROM") coal production for the next fiscal year at the Narrabri North mine to be 6.6 Mt to 6.8 Mt.
Julian Treger, Chief Executive Officer of Anglo Pacific, commented:
"We are encouraged by Whitehaven's production guidance for FY2016 which is a testament to Whitehaven's management, who have delivered one of the most productive and lowest cost underground longwall coal mines in Australia. The expected coal production for next year is above the 6.5 Mt of ROM coal production that Anglo Pacific had assumed at the time of the royalty acquisition. This royalty continues to exceed our expectations."
For further information:
| Anglo Pacific Group PLC |
+44 (0) 20 3435 7400 |
| Julian Treger, Chief Executive Officer |
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| Kevin Flynn, Chief Financial Officer |
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| Bell Pottinger |
+44 (0) 20 3772 2500 |
| Nick Lambert / Lorna Cobbett |
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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.