ATH Resources

ATH Resources

January 20, 2006 04:05 ET

ATH Resources plc - Appointment of Development Director

LONDON, UNITED KINGDOM--(CCNMatthews - Jan. 20, 2006) - ATH Resources plc, one of the UK's largest coal producers, is pleased to announce that it has recruited Peter Morgan as Development Director of its operating subsidiary Aardvark TMC Limited.

Peter has worked in the mineral industry for some 27 years and for the last 17 years at Wardell Armstrong, an international mining engineering and environmental consultancy. As Technical Director he was responsible for management of the largest private sector mineral portfolio in the UK and has extensive experience in all aspects of mineral development.

Peter will report through the Group Development Director, Mike Tod, and will take responsibility for the Group's organic development programme.

Commenting upon the appointment Tom Allchurch, Chief Executive, said: "We are delighted to have recruited Peter who brings with him many years experience of land development and he will greatly assist us in achieving our development strategy. Peter is a welcome addition to the senior management team at ATH."

Notes to Editors:

ATH Resources plc is an AIM-listed operator of opencast coal mines in the UK with its current three operational mines, Skares Road, Garleffan and Grievehill, located near New Cumnock, East Ayrshire in Scotland. The Group is currently the third largest producer of coal in the UK producing approximately 1.5 million tonnes per annum. Coal was used to generate 32.7 per cent of the UK's electricity in 2004 and the Group holds coal supply contracts with four of the UK's main electricity generating companies.

The management team has been in place since 1998. It acquired the rights to operate (and subsequently acquire) the Skares Road mine with support from The Alchemy Plan and Bank of Scotland. Following ATH Resource's incorporation in October 2003, and backed by a follow on investment from The Alchemy Plan, the Company acquired the Garleffan mine in November 2003.

In June 2005 the Group acquired two new opencast sites, Grievehill and Glenmuckloch in Scotland for GBP 18 million using the GBP 16.8 million raised by way of an Open Offer on the basis of 1 New Ordinary Share for every 3 Existing Ordinary Shares. The acquisition increased the Group's reserve base by 160% and provided longer term stability to the business.

In addition to its operating mines, the Group also has a number of other coal mining projects in Scotland and two through its French subsidiary, SRMMC, including a series of six existing coal concessions in south-central France covering an area of 36km2, with an estimated resource of approximately 4.5 million tonnes of recoverable coal.

ATH Resources listed on the AIM market of the London Stock Exchange in June 2004.



Contact Information