SOURCE: Anglo Pacific Group PLC

December 13, 2016 06:37 ET

Anglo Pacific Group PLC: Q1 2017 Coking Benchmark Price

LONDON, UNITED KINGDOM--(Marketwired - Dec 13, 2016) - Anglo Pacific Group PLC (LSE: APF) (TSX: APY)

LSE: APF; TSX: APY

News Release
December 13, 2016

Anglo Pacific Group PLC
Q1 2017 Coking Benchmark Price

Anglo Pacific Group PLC ("Anglo Pacific", the "Company" or the "Group") (LSE: APF; TSX: APY), the London and Toronto listed royalty company, notes that industry sources are reporting the seaborne benchmark hard coking coal contract price for the first quarter of 2017 has settled at US$285 per tonne. This is the highest settlement price since Q4 2011 and equal to the fourth highest on record in US dollar terms. The first quarter 2017 settlement price is 43% higher than the previous quarter.

Julian Treger, Chief Executive Officer of Anglo Pacific, commented:

"The recent hard coking contract price settlements are materially above the levels we have seen in the past years and significantly higher than our previous assumptions. This should markedly improve our income and dividend cover next year.

Anglo Pacific has royalties over the sales of coking coal at the Kestrel mine in Australia where the majority of production is expected to be within the Group's private royalty land during the next twelve months. In addition, the weakness of the pound post Brexit should also improve our income figures in the first half of next year."

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    
     

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http://www.rns-pdf.londonstockexchange.com/rns/7164R_1-2016-12-13.pdf

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