ECOR Ecora Resources Plc

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RNS Number : 8591A

Anglo Pacific Group PLC

10 June 2016

News Release

June 10, 2016

Anglo Pacific Group PLC

Kestrel Royalty Update

Anglo Pacific Group PLC ("Anglo Pacific", the "Company" or the "Group") (LSE: APF, TSX: APY), the London and Toronto listed royalty company, provides the following update in relation to its Kestrel royalty.

The latest forecast information provided by Rio Tinto, as part of the Group's information rights in relation to forward guidance at Kestrel, indicates mining within the Group's private royalty lands for H1 2016 will be approximately 20-25% rather than the 30-35% previously guided. The Company understands that this is due to the delayed commencement of mining of longwall panel 404, which is largely within the Group's private royalty area, and is now expected to commence at the beginning of H2 2016. We expect mining within the Group's private royalty land will be approximately 85-90% in H2 2016 resulting in significantly higher volumes than H1 2016 and continue to anticipate that total mining within the Group's private royalty land in 2016 will be approximately 60-65% as previously guided.

For further information:

 
 Anglo Pacific Group PLC                       +44 (0) 20 3435 7400 
 Julian Treger - Chief Executive 
  Officer 
  Kevin Flynn - Chief Financial 
  Officer and Company Secretary 
 Website:                                 www.anglopacificgroup.com 
 
 BMO Capital Markets Limited                   +44 (0) 20 7664 8020 
 Jeffrey Couch / Neil Haycock / 
  Tom Rider 
 
 Macquarie Capital (Europe) Limited            +44 (0) 20 3037 2000 
 Raj Khatri / Nicholas Harland / Ariel 
  Tepperman 
 
 Peel Hunt LLP                                 +44 (0) 20 7418 8900 
 Matthew Armitt / Ross Allister 
 
 Bell Pottinger                                +44 (0) 20 3772 2500 
 Nick Lambert / David Bass / Richard 
  Crowley 
 
 

Notes to Editors

About Anglo Pacific

Anglo Pacific Group PLC is a global natural resources royalty company. The Company's strategy is to develop a leading international diversified royalty company with a portfolio centred on base metals and bulk materials, focusing on accelerating income growth through acquiring royalties on projects that are currently cash flow generating or are expected to be within the next 24 months. It is a continuing policy of the Company to pay a substantial portion of these royalties to shareholders as dividends.

Cautionary statement on forward-looking statements and related information

Certain information contained in this announcement, including any information as to future financial or operating performance and other statements that express management's expectation or estimates of future performance, constitute "forward looking statements". The words "expects", "anticipates", "plans", "believes", "estimates", "seeks", "intends", "targets", "projects", "forecasts", or negative versions thereof and other similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Further, forward-looking statements are not guarantees of future performance and involve risks and uncertainties which could cause actual results to differ materially from those anticipated, estimated or intended in the forward-looking statements. Furthermore, this announcement contains information and statements that are based on certain estimates and forecasts that have been provided to the Group by Kestrel Coal Pty Ltd ("KCPL"), the accuracy of which KCPL does not warrant and on which readers may not rely. The material assumptions and risks relevant to the forward-looking statements in this announcement include, but are not limited to: stability of the global economy; stability of local government and legislative background; continuing of ongoing operations at the properties underlying the Group's portfolio of royalties in a manner consistent with past practice; accuracy of public statements and disclosures (including feasibility studies and estimates of reserve, resource, production, grades, mine life, and cash cost) made by the owners and operators of such underlying properties; accuracy of the information provided to the Group by the owners and operators of such underlying properties; no material adverse change in the price of the commodities produced from the properties underlying the Group's portfolio of royalties and investments; no material adverse change in foreign exchange exposure; no adverse development in respect of any property in which the Group holds a royalty or other interest, including but not limited to unusual or unexpected geological formations and natural disasters; successful completion of new development projects; planned expansions or additional projects being within the timelines anticipated and at anticipated production levels; and maintenance of mining title. If any such risks actually occur, they could materially adversely affect the Group's business, financial condition or results of operations. For additional information with respect to such risks and uncertainties, please refer to the "Principal Risks and Uncertainties" section of our most recent Annual Report and to the "Risk Factors" section of our most recent Annual Information Form available on www.sedar.com and the Group's website www.anglopacificgroup.com. Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking statements. The forward-looking statements contained in this announcement are made as of the date of this announcement only and the Group undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

Third party information

As a royalty holder, the Group often has limited, if any, access to non-public scientific and technical information in respect of the properties underlying its portfolio of royalties, or such information is subject to confidentiality provisions. As such, in preparing this announcement, the Group has largely relied upon the public disclosures of the owners and operators of the properties underlying its portfolio of royalties, as available at the date of this announcement.

This information is provided by RNS

The company news service from the London Stock Exchange

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