News Release
April 23, 2015
Anglo Pacific Group PLC
Kestrel update and 2016 guidance
Anglo Pacific Group PLC ("Anglo Pacific" or the "Company") (LSE: APF, TSX: APY) is pleased to provide an update on its Kestrel royalty following the Q1 2015 operational update by Rio Tinto on April 21, 2015.
Rio Tinto announced production from the Kestrel Mine of 1.017 Mt of hard coking coal and 0.118 Mt of thermal coal for Q1 2015. Production rates at Kestrel are improving following the long wall ramp up as total production at the mine during Q1 2015 was 147% higher than Q4 2014 and 30% higher than Q1 2014. The Kestrel Mine production rate is expected to reach full production within the next 9 to 15 months as the mine continues to ramp up.
Rio Tinto's Q1 Kestrel production update indicates that production tonnes on Anglo Pacific's royalty lands continue to be in line with guidance for 2015.
The Company estimates that Rio Tinto will mine between 60% and 65% of total production within Anglo Pacific's royalty lands during 2016.
For further information:
Anglo Pacific Group PLC Julian Treger - Chief Executive Officer Mark Potter - Chief Investment Officer |
+44 (0) 20 3435 7400 |
Website: |
www.anglopacificgroup.com |
BMO Capital Markets Limited Neil Haycock / Tom Rider |
+44 (0) 20 7664 8121 |
Macquarie Capital (Europe) Limited Ken Fleming / Ariel Tepperman / Nicholas Harland |
+44 (0) 20 3037 2000 |
Peel Hunt LLP Matthew Armitt / Ross Allister |
+44 (0) 20 7418 8900 |
Bell Pottinger Nick Lambert / Lorna Cobbett |
+44 (0) 20 3772 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.
