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| Royalty Update: Groundhog Anthracite Project | |
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Anglo Pacific Group PLC ('Anglo Pacific', or the 'Company') (LSE: APF, TSX: APY), the London and Toronto listed royalty company is pleased to announce that it has now settled the outstanding amount due under its promissory note receivable from Atrum Coal Groundhog Inc and its parent company, Atrum Coal NL (together 'Atrum') (the 'Promissory Note'). The Promissory Note was issued as part consideration for the sale of the Company's coal licences in September 2014, and subsequently extended in September 2015.
The remaining outstanding balance of US$1.4 million (including principal and accrued interest) has been settled by way of US$0.6 million in cash along with the issue of a new royalty as follows:
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5% gross revenue royalty ('GRR') over all production within Atrum's Groundhog Anthracite Project ('Groundhog') tenements for a period of ten years from the date that Atrum declares commercial production on the project; and subsequently
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1% GRR from production within the Groundhog North Mining Complex project area.
Anglo Pacific will continue to retain the higher of a 1% GRR or US$1.00/t royalty on the areas of Groundhog that Atrum acquired from Anglo Pacific in 2014.
Julian Treger, Chief Executive Officer of Anglo Pacific, commented:
'We are pleased to have recovered the full value of our outstanding promissory note, and in the process increased our royalty exposure to Atrum's high quality anthracite project. We look forward to the project progressing into production.'
For a full copy of this release please click here.
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Anglo Pacific Group plc
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PRODUCTEUR |
CODE : APF.L |
ISIN : GB0006449366 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Anglo Pacific est une société basée au Royaume-Uni. Anglo Pacific est productrice de fer au Bresil, et détient divers projets d'exploration au Bresil. Son principal projet en production est AMAPA au Bresil. Anglo Pacific est cotée au Royaume-Uni, aux Etats-Unis D'Amerique, en Australie et en Allemagne. Sa capitalisation boursière aujourd'hui est 26,7 milliards GBX (31,9 milliards US$, 32,2 milliards €). La valeur de son action a atteint son plus bas niveau récent le 28 septembre 2001 à 10,02 GBX, et son plus haut niveau récent le 05 octobre 2022 à 157,00 GBX. Anglo Pacific possède 169 942 000 actions en circulation. |