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Acquisition of Gold Royalty From Hummingbird Resources
Published : December 18, 2012
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LONDON, UNITED KINGDOM--(Marketwire - Dec. 18, 2012) - Anglo Pacific Group PLC ("Anglo Pacific", the "Company") (News - Market indicators)(TSX:APY) is pleased to announce that it has entered into a royalty financing agreement in connection with the Dugbe 1 Gold Project (the "Project"), located in south eastern Liberia and operated by Hummingbird Resources Plc ("Hummingbird").

Anglo Pacific will provide Hummingbird with a cash payment of US$15 million in exchange for a 2% net smelter return royalty for any ore produced from the Project within a 20 kilometre radius of Dugbe F, including the Tuzon project.

The acquisition consideration will be paid in three equal tranches:

  • Tranche 1: US$5 million will be payable immediately following local consents and filings being obtained.
  • Tranche 2: US$5 million is payable upon either the completion of 25,000 metres of infill drilling or the publication of the results of a scoping study on the Dugbe 1 Project and not payable before 31 December 2012.
  • Tranche 3: US$5 million is payable following the completion of both a scoping study and 25,000 metres of infill drilling at the Project and not payable before 31 March 2013.

The Project royalty covers a land area of approximately 1,256 square kilometres, which includes a NI 43-101 compliant Indicated and Inferred Resource.

Commenting on the acquisition, John Theobald, Chief Executive Officer of Anglo Pacific, said:

"We are extremely pleased with the acquisition of the royalty on the Dugbe 1 gold project, the third royalty financing we have announced this year. The acquisition enables Anglo Pacific to further diversify its royalty portfolio by strengthening our focus on precious metals, which we believe will offer considerable long term revenue growth and cash flows for the Company and its shareholders." 

Notes to editors: 

About Anglo Pacific Group PLC

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

About Hummingbird Resources Plc

Hummingbird Resources plc is an AIM quoted mineral exploration company incorporated in England and Wales and headquartered in London. Since its establishment in November 2005, the Company and its subsidiaries (the "Group") has been active in Liberia, West Africa, and is currently the holder of the largest area of mineral exploration ground in the highly prospective Birimian geological region of eastern Liberia. The Group currently holds exploration licences covering approximately 7,000 square kilometres in total, which constitutes a significant proportion of eastern Liberia containing the Birimian sequence.

The Group has published a NI43-101 compliant Indicated and Inferred Resource on its Dugbe F deposit, for more information, please visit www.hummingbirdresources.co.uk.

Important notice

This news release contains forward-looking statements based on assumptions and reflects Anglo Pacific Group PLC's expectations, estimates and projections of future events as of the date of this release. Forward-looking statements include, without limitation, statements regarding the performance, prospects, opportunities, priorities, targets, goals, objectives, strategies, growth and outlook of Anglo Pacific Group PLC. Often, but not always, forward-looking statements can be identified by the use of words such as "expects", "anticipates", "plans", "believes", "estimates", "seeks", "intends", "targets", "projects", "forecasts", or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

Forward-looking statements are based upon certain material factors and assumptions that were applied in drawing a conclusion or making a forecast or projection, including assumptions and analyses made by Anglo Pacific Group PLC in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that are believed to be appropriate in the circumstances. Also, forward-looking statements involve known and unknown risks, uncertainties and other factors that are beyond the Company's control and which may cause the actual results, performance or achievement to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such material factors and assumptions and risks and uncertainties include, among others, those described in the Company's annual information form dated as at June 29, 2010 (available on Anglo Pacific Group PLC's website and at www.sedar.com), which are incorporated by reference into this release and qualify any and all forward-looking statements made in this release.

Although Anglo Pacific Group PLC has attempted to identify factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that actual results will be consistent with these forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements herein relate only to events or information as of the date on which the statements are made and, except as specifically required by law, Anglo Pacific Group PLC undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise.



Anglo Pacific Group PLC
John Theobald
Chief Executive Officer
+44 (0) 20 3435 7400
or
Anglo Pacific Group PLC
Chris Orchard
Chief Investment Officer
+44 (0) 20 3435 7400
+44 (0) 20 7629 0370 (FAX)
info@anglopacificgroup.com
www.anglopacificgroup.com
or
Liberum Capital
Chris Bowman
+44 (0) 20 3100 2000
or
Liberum Capital
Christopher Kololian
+44 (0) 20 3100 2000
or
Pelham Bell Pottinger
Lorna Spears
+44 (0) 20 7861 3232
or
Pelham Bell Pottinger
James MacFarlane
+44 (0) 20 7861 3232
Data and Statistics for these countries : Liberia | United Kingdom | All
Gold and Silver Prices for these countries : Liberia | United Kingdom | All
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Anglo Pacific Group plc

PRODUCER
CODE : APF.L
ISIN : GB0006449366
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Annual reports of Anglo Pacific Group plc
Publication of Annual Report 2012
Publication of Annual Report 2011
2009 Annual Report
2007 Annual Report
Option Grants of Anglo Pacific Group plc
4/27/2011final dividend for the year ended December 31, 2010
Nominations of Anglo Pacific Group plc
3/20/2013Appointment of Non-Executive Director
9/23/2011Resignation of Director
7/15/2011Appointment of Company Secretary
Financials of Anglo Pacific Group plc
10/31/2012Financial Results
8/14/2012Interim Results for the Three and Six Months Ended June 30, ...
5/15/2012Interim Results for the Three Months Ended March 31, 2012
10/31/2011Interim Results for the Three and Nine Months Ended Septembe...
Project news of Anglo Pacific Group plc
3/29/2012Joint Share Ownership Plan Awards
3/29/2011Joint Share Ownership Plan
12/6/2010(Amapa)Completion of Brazilian Iron Ore Royalty Acquisition
Corporate news of Anglo Pacific Group plc
5/30/2013Final Dividend
5/22/2013Results of Annual General Meeting
5/16/2013Interim Management Statement
4/22/2013Notice of AGM and Update on Quarterly Reporting
2/13/2013Proposed Final Dividend
1/29/2013Notice of Results
12/18/2012Acquisition of Gold Royalty From Hummingbird Resources
12/10/2012Interim Dividend
10/25/2012Notice of Results
9/17/2012Board Change
9/12/2012Proposed Increase to Coal Royalty Rate in Queensland, Austra...
8/9/2012Notice of Results
5/29/2012Results of General Meeting
4/30/2012Notice of General Meeting
4/17/2012Annual Information Update
3/6/2012Cardero Withdraws From Trefi Purchase Letter of Intent
2/22/2012Preliminary Results for the Year Ended December 31, 2011
2/14/2012Notice of Results: Preliminary Results for 2011
2/6/2012Proposed Transaction for the Acquisition of 50% of the Mount...
12/8/2011First Royalty Payment Received From El Valle-Boinas/Carles G...
11/17/2011Proposed transaction for Trefi Coal with Cardero Resource Co...
10/26/2011Notice of Results
9/30/2011Director's Share Dealings
9/16/2011Allotment of Shares
8/10/2011Sale of Interest in First Coal Corporation
8/2/2011Acquisition of Chromite Royalty from KWG Resources Inc.
6/6/2011- El Valle-Boinas/Carles Gold, Silver and Copper Royalty...
5/27/2011- Change of Telephone Number and Postcode
4/13/2011- Results of Annual General Meeting (AGM)
4/4/2011admitted to the FTSE 250 index
4/23/2010Notification of Major Interests in Shares
4/21/2010Results of Annual General Meeting (AGM)
4/8/2010Director's Share Dealings
3/30/2010Director’s Share Dealings
3/26/2010Director’s Share Dealings
3/15/2010Annual Information Update and Total Voting Rights
2/25/2010Directors' Share Dealings
2/24/2010Preliminary Results For The Year Ended 31 December 2009
1/19/2010Notification of Major Interests in Shares
5/13/2009 Offer for Royalco Resources Limited
4/15/2009Notification of major interests in shares
3/4/2009Annual information update
2/25/20092008 Preliminary Results
8/29/2008INTERIM RESULTS FOR THE SIX MONTHS ENDED 30th JUNE 2008
7/22/2008Change of Adviser
6/4/2008Royalty Increase
3/11/2008Acquires gold royalty
2/27/20082007 Preliminary Results
1/25/2008QUARTERLY PRODUCTION AND EXPLORATION REPORT
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