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Anglo Pacific Group PLC Trefi - Initial coal re...
Anglo Pacific Group PLC Trefi - Initial coal re....
About this update from Ecora Royalties Plc
[{"type":"text","content":"\n \n\n\n\n Anglo Pacific Group PLC\n\n Initial Coal Resource of 90.95 million tonnes at the Trefi Coal\n Project\n in British Columbia, Canada\n\nIn addition to its various other private coal interests in Canada,\nAnglo Pacific Group PLC (\"Anglo Pacific Group\" or \"the Company\") is\npleased to announce an initial coal resource estimate of 90.95\nmillion tonnes at the Trefi Coal Project in northeast British\nColumbia.\n\nThe resource estimate is based upon the drilling and exploration work\nundertaken by Gulf Canada between 1980 and 1982 and then by Anglo\nPacific Group itself in 2008 and 2009. The report was prepared by\nMoose Mountain Technical Services, an independent consultancy based\nin Canada. The coal resource estimate is reported in accordance with\nAustralian JORC Code and Canadian National Instrument 43-101.\n\nThe highlights of the report are as follows:-\n\n * Initial underground C-Seam coal resource of 90.95 million tonnes\n\n * Measured and Indicated Resource of 39.35 million tonnes\n\n * High quality low sulphur coal suitable for thermal and PCI export\n markets\n\n * Resource located close to infrastructure and railway\n\n\nFor more details the full report can be found at the end of this\npress release.\n\nAs noted in the recent 2009 interim results, the Company intends this\nautumn to carry out a scoping study on the Trefi resource in order to\nprogress the project towards the Company's objective of earning a\nroyalty entitlement and retaining a carried interest. Furthermore,\nthe Company hopes to produce an initial 43-101 resource statement on\nits Groundhog coal project in northern British Columbia by the end of\n2009. Both the Groundhog and Trefi coalfields remain on the balance\nsheet at cost.\n\nThe development of coal interests in British Columbia is an important\ncomponent of Anglo Pacific Group's strategy to broaden and diversify\nits portfolio of royalties. Furthermore, the Company is in the\nprocess of applying for a listing of its shares on the Toronto Stock\nExchange.\n\nAnglo Pacific Group generates returns for shareholders by receiving\nroyalties from operating mines which currently include coking coal\nmines in Australia owned by BHP Billiton and Rio Tinto.\n\nThe Company's strategy remains to pay a substantial proportion of its\nroyalties to shareholders as dividends, while reinvesting the ba...