Business
Acquisition of Net Smelter Ro
Acquisition of Net Smelter Ro.
About this update from Ecora Royalties Plc
[{"type":"text","content":"\n RNS Number : 5831F Anglo Pacific Group PLC 15 January 2010 \n \n\n\nNews Release\n\n15th January 2010\n\nAnglo Pacific Group plc\nAcquisition of net smelter royalty on future uranium production of Berkeley Resources Limited\n\nAnglo Pacific Group plc (\"the Company\") is pleased to announce that on 29th December 2009 it acquired for A$4,137,500 a 1% Net Smelter Royalty (\"NSR\") on all future uranium production from the Spanish and Portuguese properties owned by Berkeley Resources Limited (\"Berkeley\").\n\nThe NSR was acquired from the original founders and vendors of Berkeley's Spanish subsidiary, Minera de Rio Alagon SL (\"MRA shareholders\"). As part of the royalty acquisition the Company also agreed to purchase from the MRA shareholders 750,000 ordinary fully paid shares for A$862,500, subject to completion.\n\nFor Anglo Pacific Group plc the acquisition of this NSR is another positive step in the Company's strategy to broaden and diversify its portfolio of royalties.\n\nAnglo Pacific Group plc is a global natural resources royalties company. The strategy of the Group is to expand its mineral royalty interests in low-cost, long-life mining assets. The Group achieves this through both direct acquisition and investment in projects at the development and production stage. It is a continuing policy of the Group to pay a substantial proportion of these royalties to shareholders as dividends.\n\nFor further information:\n\nAnglo Pacific Group PLC +44 (0) 20 7318 6360\nPeter Boycott, Chairman\nMatthew Tack, Finance Director\n\nLiberum Capital +44 (0) 20 3100 2000\nChris Bowman\nEllen Francis\n \nScott Harris &n...