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Anglo Pacific Group (APF)

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Wednesday 13 February, 2019

Anglo Pacific Group

Kestrel operator plans to increase volumes in 2019

RNS Number : 9246P
Anglo Pacific Group PLC
13 February 2019
 

News Release

13 February 2019

 

Anglo Pacific Group PLC

Kestrel operator announces plans to significantly increase volumes in 2019

Anglo Pacific Group PLC ("Anglo Pacific", the "Company" or the "Group") (LSE: APF, TSX: APY), the London and Toronto listed royalty company, notes Adaro Energy's ("Adaro") Q4 2018 Activity Report released on 11 February 2019, supports the statements made in our recent trading update regarding expected material production increases at Kestrel in 2019.

 

In the announcement Adaro confirms that the operator, Kestrel Coal Resources Pty Ltd, has embarked on a change programme aimed at driving efficiency improvements throughout Kestrel's operations. Adaro has announced that the implemented changes are expected to increase coal production in 2019 by 40% at Kestrel compared to 2018 and that it anticipates any increase in production to be well absorbed by the market due to high demand for Kestrel's premium quality coal.

 

Anglo Pacific does not operate the mine and therefore cannot guarantee these forecast increases will eventuate. However, if this increase in Kestrel production is achieved, it will, subject to prevailing coal prices, lead to a significant increase in income from Kestrel this year for Anglo Pacific.

 

Julian Treger, Chief Executive Officer of the Company, commented:

"While we are cognisant that this is a forecast, it is extremely encouraging news for Anglo Pacific's largest income contributor and for the Group's overall income expectations for 2019, as previously stated in our Q4 2018 trading update."

 

 

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 / Tom Rider / Neil Elliot




Canaccord Genuity Limited

+44 (0) 20 7523 8000

Martin Davison / James Asensio




Peel Hunt LLP

+44 (0) 20 7418 8900

Ross Allister / James Bavister / David McKeown




Capital Market Communications Limited (Camarco)

+44 (0)20 3757 4997

Gordon Poole / Owen Roberts / James Crothers


 

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 mainly through acquiring royalties on projects that are currently cash flow generating or are expected to be within the next 24 months, as well as investment in earlier stage royalties. 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 on 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.


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