Business
Anglo Pacific Group Four Mile
Anglo Pacific Group Four Mile.
About this update from Ecora Royalties Plc
[{"type":"text","content":"\n RNS Number : 3010P Anglo Pacific Group PLC 23 March 2009 \nAnglo Pacific Group PLC ('Anglo Pacific')\n23 March 2009\n\nRoyalty Acquisition\nAnglo Pacific is pleased to announce it has acquired the Four Mile royalty from IMX Resources Ltd (IMX) for $A6 million.\nThe royalty covers the Beverley Four Mile uranium project in South Australia, a joint venture between Quasar Resources Pty Ltd and Alliance Resources Ltd. IMX sold the 1242-square kilometre Arkaroola tenements to Alliance in 2002 and the JV went on to discover the Four Mile prospect within the licence in 2005.\nFour Mile now has an inferred resource of 32 million pounds of uranium grading 0.37% uranium oxide (U3O8), with a 3Mlb per annum operation set to commence early next year. The royalty entitles the holder to a 1% net smelter royalty from any production on the tenements.\nThe royalty acquisition is subject to regulatory approvals and settlement is expected to occur within 60 days.\n\nAnglo Pacific is a public limited company quoted on the London Stock Exchange and the Australian Stock Exchange. It generates returns for its shareholders by receiving royalties, including from coal mines in Australia operated by BHP and Rio Tinto. The strategy of Anglo Pacific is to pay a substantial proportion of these royalties to shareholders as dividends, while reinvesting the balance in strategic listed and unlisted mineral exploration and production opportunities with a view to obtaining more royalties for shareholders\n\nFor further information and enquiries: \n \nAnglo Pacific Group Plc +44 (0) 20 7318 6360 \nPeter Boycott, Chairman \nMatthew Tack, Finance Director \nBrian Wides, Chief Executive Officer \n\nWebsite: www.anglopacificgroup.com.\n\nLiberum Capital +44 (0) 20 3100 2000 \nChris Bowman \nSimon Stilwell \n \nScott Harris +44 (0) 20 7653 0030 \nStephen Scott \nJames O'Shaughnessy\n\n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCBDGDXRSDGGCX \n ","length":3924,"tagName":"div"}]