LONDON, UNITED KINGDOM--(Marketwired - Jan 18, 2017) - Anglo Pacific Group PLC (
LSE: APF; TSX: APY
News Release
January 18, 2017
Anglo Pacific Group PLC
Q4 2016 Trading Update
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (as amended)
Anglo Pacific Group PLC ("Anglo Pacific", the "Company" or the "Group") (
Highlights
- ~240% increase in royalty income for the year to £20.5 - £21.5m (2015: £8.7m), mainly driven by the significant increase in saleable tonnes at Kestrel being derived from the Group's private royalty lands
- Royalty income for Q4 2016 in the range of £11.6m - £12.6mm (Q3 2016: £4.8m, Q4 2015: £3.0m)
- 88% and 67% of Kestrel's saleable tonnes in H2 2016 and FY 2016 respectively derived from the Group's private royalty lands
- The Group continues to expect 85-90% of Kestrel's saleable tonnes will be derived from its private royalty lands in 2017
- Narrabri performed in line with the Group's expectations in H2 2016 with further production growth expected in 2017 through the imminent expansion of the longwall infrastructure
- Kestrel valuation expected to be A$195.0m - A$205.0mm at December 31, 2016 (June 30, 2016: A$147.8m)
- Expected impairment charges of £5.0 - £8.0m relating to the Group's Amapá and Dugbe 1 royalties
- Net debt at December 31, 2016 of £0.9m (September 30, 2016: £8.2m)
- Dividend cover for 2016 expected to be approximately 1.5x
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Contact Information:
For further information:
Anglo Pacific Group PLC
+44 (0) 20 3435 7400
Julian Treger - Chief Executive Officer
Kevin Flynn - Chief Financial Officer and Company Secretary
Website: www.anglopacificgroup.com
BMO Capital Markets Limited
+44 (0) 20 7664 8020
Jeffrey Couch / Neil Haycock / Tom Rider
Macquarie Capital (Europe) Limited
+44 (0) 20 3037 2000
Raj Khatri / Nicholas Harland / Ariel Tepperman
Peel Hunt LLP
+44 (0) 20 7418 8900
Matthew Armitt / Ross Allister
Redleaf Communications
+44 (0)20 7382 4769
Charlie Geller / David Ison