SOURCE: Anglo Pacific Group PLC

January 28, 2016 04:35 ET

Anglo Pacific Group PLC: Q4 2015 Trading Update

LONDON, UNITED KINGDOM--(Marketwired - Jan 28, 2016) - Anglo Pacific Group PLC (TSX: APY) (LSE: APF)

LSE: APF; TSX: APY

News Release
January 28, 2016

Anglo Pacific Group PLC
Q4 2015 Trading Update

Anglo Pacific Group PLC ("Anglo Pacific", the "Company" or the "Group") (LSE: APF, TSX: APY), the London and Toronto listed royalty company, announces the following trading update for the period October 1, 2015 to December 31, 2015, ahead of the release of its full year results on March 23, 2016. Unless otherwise stated, all unaudited financial information is for the quarter ended December 31, 2015.

Highlights

  • Royalty income for Q4 2015 in the range of £2.7 - £3.0m (Q4 2014: £0.4m)
  • Royalty income for 2015 in the region of £8.5 - £8.8m (2014: £3.5m)
  • H2 2015 and full year Kestrel coal production within Anglo Pacific's royalty area of 84%
  •  (above guidance of 70-75%) and 49% respectively
  • Updated tonnage sales forecasts from Rio Tinto, in accordance with Anglo Pacific's
  •  Kestrel information rights, confirm previous guidance of 60-65% of Kestrel coal
  •  production will be within the Group's royalty area during 2016 (H1 2016: 30-35% and H2
  •  2016: 85-90%)
  • The Narrabri mine's production continues to outperform the Group's expectations, setting
  •  an annual production record of 8.3 Mt run-of-mine coal for the calendar year 2015, well
  •  in excess of the original design capacity of 6 Mtpa
  • Laramide Resources C$5m loan receivable repaid to Anglo Pacific on December 31, 2015
  •  upon maturity
  • Unaudited cash and cash equivalents of £5.7m as at December 31, 2015 (September 30,
  •  2015: £3.6m)
  • Unaudited net debt at December 31, 2015 of £1.8m (September 30, 2015: £5.2m)
  • Coking coal price weakness likely to result in a Q4 2015 pre-tax reduction in the carrying
  •  value of the Group's Kestrel royalty in the range of A$28 - A$33m, with a corresponding
  •  reduction in the associated deferred tax liability

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http://www.rns-pdf.londonstockexchange.com/rns/2353N_1-2016-1-27.pdf

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