| Q3 2015 Trading Update | |
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Anglo Pacific Group PLC ('Anglo Pacific', the 'Company' or the 'Group') (LSE: APF, TSX: APY), the London and Toronto listed royalty company, issues the following trading update for the period July 1, 2015 to November 25, 2015. Unless otherwise stated, all unaudited financial information is for the quarter ended September 30, 2015.
Highlights
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Royalty related income of £1.9m in Q3 2015 (Q3 2014: £0.5m) despite headwinds in the price of commodities
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Royalty related income of £5.7m for the nine months ended September 30, 2015 (nine months ended September 30, 2014: £3.0m; and FY2014: £3.5m)
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Successful completion of longwall changeouts at both Kestrel and Narrabri in the period, leaving full year production targets unchanged
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Positive developments for the Group's Narrabri and Salamanca royalties
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Cash and cash equivalents of £3.6m as at September 30, 2015 (June 30, 2015: £4.0m)
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Total quoted equity interests valued at £7.4m as at September 30, 2015 (June 30, 2015: £6.5m)
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Borrowings of £8.6m as at September 30, 2015 (June 30, 2015: £2.6m)
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Net assets of £161.4m at September 30, 2015 (June 30, 2015: £171.0m)
Julian Treger, Chief Executive Officer of the Company, commented:
'We are pleased to build on the half year performance and report a significant increase in royalty income compared to the third quarter of last year. The increase in the Group's royalty income is largely due to the royalty income received from the Narrabri royalty, acquired in the first half of the year, and has been achieved in a period where commodity prices have remained under significant pressure.
With longwall changeouts successfully completed at both Kestrel and Narrabri, we are expecting a strong finish to 2015. There have also been additional positive developments at our Narrabri and Salamanca royalties following the end of the quarter, which have the potential to significantly enhance our near term royalty flows.
Our move to the standard listing on the Main Market creates greater flexibility as we continue to grow the business, whilst still providing shareholders with a high level of protection. We continue to work hard to identify and appraise new royalty opportunities which will complement our existing portfolio and further the considerable progress we have made this year.'
For a full copy of this release please click here.
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Anglo Pacific Group plc
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PRODUCER |
CODE : APF.L |
ISIN : GB0006449366 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Anglo Pacific is based in United kingdom. Anglo Pacific produces iron in Brazil, and holds various exploration projects in Brazil. Its main asset in production is AMAPA in Brazil. Anglo Pacific is listed in Australia, in Germany, in United Kingdom and in United States of America. Its market capitalisation is GBX 26.7 billions as of today (US$ 31.9 billions, € 32.2 billions). Its stock quote reached its lowest recent point on September 28, 2001 at GBX 10.02, and its highest recent level on October 05, 2022 at GBX 157.00. Anglo Pacific has 169 942 000 shares outstanding. |