Acquisition of Net Smelter Ro

RNS Number : 5831F

Anglo Pacific Group PLC

15 January 2010

 



News Release

15th January 2010

Anglo Pacific Group plc

Acquisition of net smelter royalty on future uranium production of Berkeley Resources Limited

Anglo Pacific Group plc ("the Company") is pleased to announce that on 29th December 2009 it acquired for A$4,137,500 a 1% Net Smelter Royalty ("NSR") on all future uranium production from the Spanish and Portuguese properties owned by Berkeley Resources Limited ("Berkeley").

The NSR was acquired from the original founders and vendors of Berkeley's Spanish subsidiary, Minera de Rio Alagon SL ("MRA shareholders").  As part of the royalty acquisition the Company also agreed to purchase from the MRA shareholders 750,000 ordinary fully paid shares for A$862,500, subject to completion.

For Anglo Pacific Group plc the acquisition of this NSR is another positive step in the Company's strategy to broaden and diversify its portfolio of royalties.

Anglo Pacific Group plc is a global natural resources royalties company. The strategy of the Group is to expand its mineral royalty interests in low-cost, long-life mining assets. The Group achieves this through both direct acquisition and investment in projects at the development and production stage. It is a continuing policy of the Group to pay a substantial proportion of these royalties to shareholders as dividends.

For further information:

Anglo Pacific Group PLC                          [phone]

Peter Boycott, Chairman

Matthew Tack, Finance Director

Liberum Capital                                         [phone]

Chris Bowman

Ellen Francis

Scott Harris                                                [phone]

Stephen Scott

James O'Shaughnessy

Website:                                            www.anglopacificgroup.com

 

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