SOURCE: Anglo Pacific Group PLC

October 14, 2014 07:00 ET

Anglo Pacific Group PLC Kestrel Royalty Update

LONDON, UNITED KINGDOM--(Marketwired - Oct 14, 2014) - 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."

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Contact Information

  • For further information:

    Anglo Pacific Group PLC
    +44 (0) 20 3435 7400
    Julian Treger - Chief Executive Officer
    Mark Potter - Chief Investment Officer
    Peter Mason - Company Secretary

    Bell Pottinger
    +44 (0) 20 3772 2500
    Nick Lambert / Lorna Cobbett