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Anglo Pacific Group PLC (the "Company") (LSE: APF, TSX: APY) is pleased to provide an update on the Narrabri Mine which is 70% owned and operated by Whitehaven Coal Limited (ASX: WHC). This follows the publication of the March 2015 quarterly production report by Whitehaven Coal on April 17, 2015.
Whitehaven Coal has announced that the Narrabri Mine has established another record run-of-mine ("ROM") coal production of 2.18Mt for the quarter to March 31, 2015. Saleable coal production for the quarter was 1.795Mt and coal sales were 1.643Mt. Year-to-date ROM and saleable coal production were 5.032Mt and 4.847Mt, 27% and 26% respectively higher than for the same period the previous year (July 1 to March 31).
Strong performance by the longwall in the current production panel has resulted in Whitehaven Coal upgrading guidance for production from the Narrabri Mine for the fiscal year ending June 30, 2015 to between 7.0Mt and 7.2Mt ROM coal from 6.5Mt previously.
The Company acquired the royalty on March 11, 2015 and is entitled to royalty income over 100% of sales from the Narrabri Mine from January 1, 2015.
Royalty income from the Narrabri Mine for Q1 2015 is in line with market expectations.
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Anglo Pacific Group plc
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PRODUCER |
CODE : APF.L |
ISIN : GB0006449366 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Anglo Pacific is based in United kingdom. Anglo Pacific produces iron in Brazil, and holds various exploration projects in Brazil. Its main asset in production is AMAPA in Brazil. Anglo Pacific is listed in Australia, in Germany, in United Kingdom and in United States of America. Its market capitalisation is GBX 26.7 billions as of today (US$ 31.9 billions, € 32.2 billions). Its stock quote reached its lowest recent point on September 28, 2001 at GBX 10.02, and its highest recent level on October 05, 2022 at GBX 157.00. Anglo Pacific has 169 942 000 shares outstanding. |