| Royalty Update: Narrabri | |
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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') (ASX: WHC) September quarterly production report on October 15, 2015.
Whitehaven announced that a planned longwall changeout was successfully completed at Narrabri during the quarter. Run of Mine ('ROM') coal production for the quarter was 1.0 Mt, down 52% compared to 2.1 Mt in the quarter ended September 30, 2014. Narrabri production was impacted by the scheduled longwall changeout, therefore quarterly production is not fully comparable with the same quarter of the previous year, during which no longwall changeout occurred.
Saleable coal production for the quarter was 1.6 Mt, with coal sales of 1.6 Mt. The sale of coal inventories resulted in coal sales exceeding ROM coal production.
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 achieve coal sales in excess of coal production during the past quarter. As a result, we would expect total Narrabri fiscal year 2016 coal sales to exceed saleable coal levels implied by Whitehaven's Narrabri ROM coal production guidance of 6.6 Mt to 6.8 Mt.'
For a full copy of this release please click here.
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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. |