Narrabri production guidance FY2016

RNS Number : 9358V

Anglo Pacific Group PLC

13 August 2015

 

News Release

August 13, 2015

Anglo Pacific Group PLC

Narrabri production guidance FY2016

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 following the release of Whitehaven Coal Limited's ("Whitehaven") (ASX: WHC) Full Year to 30 June 2015 Results.  

Whitehaven has announced its guidance for Run of Mine ("ROM") coal production for the next fiscal year at the Narrabri North mine to be 6.6 Mt to 6.8 Mt.

Julian Treger, Chief Executive Officer of Anglo Pacific, commented:

"We are encouraged by Whitehaven's production guidance for FY2016 which is a testament to Whitehaven's management, who have delivered one of the most productive and lowest cost underground longwall coal mines in Australia. The expected coal production for next year is above the 6.5 Mt of ROM coal production that Anglo Pacific had assumed at the time of the royalty acquisition. This royalty continues to exceed our expectations."

For further information:

Anglo Pacific Group PLC                                                                                   [phone]

Julian Treger, Chief Executive Officer

Kevin Flynn, Chief Financial Officer

Bell Pottinger                                                                                                      [phone]

Nick Lambert / Lorna Cobbett

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.

 

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