Anglo Pacific Group PLC Royalty Update: Salamanca Project DFS
July 15 2016 - 02:00AM
RNS Non-Regulatory
TIDMAPF
Anglo Pacific Group PLC
15 July 2016
News Release
July 15, 2016
Anglo Pacific Group PLC
Royalty Update: Salamanca Project DFS
Anglo Pacific Group PLC ("Anglo Pacific" or the "Company") (LSE:
APF, TSX: APY) notes the publication by Berkeley Energia Limited
("Berkeley") of an independent Definitive Feasibility Study ("DFS")
on its Salamanca Project (the "Project").
The DFS reports that the Project is capable of producing an
average saleable production of 4.4 million pounds of uranium per
annum over ten years of steady state production, or an average of
3.5 million pounds of uranium per year over a 14 year mine life.
This is significantly higher than the rate of production assumed
when the Company acquired the royalty in 2009 due to the
considerable increase in resource discovered by Berkeley over the
past twelve months. First production, and hence first generation of
royalty income for the Company, is expected in 2018.
In December 2009, Anglo Pacific acquired a 1% NSR royalty
applicable to production from Berkeley's Spanish and Portuguese
assets for A$4.1 million which continues to be its carrying value.
Anglo Pacific also holds 30.3 million Berkeley ordinary shares.
Julian Treger, Chief Executive Officer of Anglo Pacific,
commented:
"We are encouraged by the timely release of this positive DFS.
Based on Berkeley's long-term contracted uranium price assumptions,
the Project should generate average gross annual sales revenue of
approximately US$180m. Anglo Pacific has a 1% NSR royalty based on
the revenues received by Berkeley. We look forward to Berkeley's
progress in bringing this exciting project into production."
For further information:
Anglo Pacific Group PLC
Julian Treger - Chief Executive
Officer
Kevin Flynn - Company Secretary +44 (0) 20 3435
& Chief Financial Officer 7400
Website: www.anglopacificgroup.com
Bell Pottinger
Nick Lambert / David Bass / Richard +44 (0) 20 3772
Crowley 2500
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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