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Anglo Pacific Group PLC ('Anglo Pacific', or the 'Company') (LSE: APF, TSX: APY), the London and Toronto listed royalty company is pleased to provide an update on its Narrabri royalty. This follows the release of the Whitehaven Coal Limited ('Whitehaven Coal') (ASX: WHC) June 2015 quarterly production report on July 16, 2015.
Whitehaven Coal has announced record Narrabri mine production for the quarter and fiscal year ending June 30, 2015. Run of Mine ('ROM') coal production for the quarter was 2.7 Mt, up 57% compared to 1.7 Mt in the quarter ended June 30, 2014. Saleable coal production for the quarter was 2.3 Mt, with coal sales of 2.2 Mt. ROM and saleable coal production in the fiscal year ending June 30, 2015 were 7.7 Mt and 7.2 Mt respectively, 36% and 37% higher than the previous fiscal year.
As previously announced by Whitehaven Coal, a scheduled annual longwall changeout is planned to begin in August 2015 with a target changeout period of five weeks.
Anglo Pacific 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.
Julian Treger, Chief Executive Officer of Anglo Pacific, commented:
'We are pleased to see Whitehaven Coal achieve a second consecutive quarterly production record at Narrabri. The realised fiscal year 2015 ROM production of 7.7 Mt, substantially higher than Whitehaven Coal's previous guidance of 6.5 Mt at the time of the royalty acquisition along with the more recent guidance of 7.0 Mt to 7.2 Mt, represents the delivery on our strategy to acquire royalties with strong production upside potential. This, along with an expected continued recovery of production within our Kestrel royalty area will further underpin Anglo Pacific's dividend.'
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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. |