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Anglo Pacific plc: Interim Results for the Six ...
Anglo Pacific plc: Interim Results for the Six ....
About this update from Ecora Royalties Plc
[{"type":"text","content":"\n \n\nFOR: ANGLO PACIFIC GROUP PLC\n\nLSE SYMBOL: APF\nTSX SYMBOL: APY\n\nAugust 11, 2011\n\nAnglo Pacific plc: Interim Results for the Six Months Ended 30 June 2011\n\nLONDON, UNITED KINGDOM--(Marketwire - Aug. 11, 2011) - Anglo Pacific Group PLC ('Anglo Pacific' or the\n'Company') (LSE:APF)(TSX:APY) is pleased to announce the interim results for the six months ended June 30,\n2011.\n\nHighlights:\n\n/T/\n\n-- Record royalty income for the period of GBP 16.4 million compared to GBP\n 15.7 million in the first half of 2010.\n-- Interim dividend increased by 7.6% to 4.25p per share (2010: 3.95p) in\n line with progressive dividend policy.\n-- Strong cash position at June 30, 2011 of GBP 36.7 million compared to\n GBP 28.3 million at December 31, 2010, with no borrowings or hedging.\n-- El Valle, the gold-copper mine in Spain, entered production in June,\n increasing the number of producing royalties in the portfolio to five.\n-- Two recent chrome and iron ore royalty acquisitions made in August 2011.\n-- The Group now owns a total of 17 royalty interests.\n-- Total assets of GBP 410 million at June 30, 2011 (GBP 416 million at\n December 31, 2010).\n-- Cash resources increased due to recent sale of First Coal Corporation\n shareholding.\n\n/T/\n\nJohn Theobald, CEO of Anglo Pacific, commented:\n\n\"The record royalty income that the Company achieved in the period is testament to the quality and resilience\nof the royalty portfolio. The adverse weather conditions in Australia that impacted production levels at our\nkey royalty project, Kestrel, were offset by higher coking coal prices.\n\nWe have expanded our royalty portfolio during the period with the completion of the Araguaia option and the\nacquisition of two additional royalties after the period end. This continues our strategy of adding depth and\ndiversification to our future royalty income.\"\n\nNotes to editors:\n\nAnglo Pacific Group PLC is a global natural resources royalties company. The strategy of the Group is to expand\nits mineral royalty interests in low-cost, long-life mining assets. The Group achieves this through both direct\nacquisition and investment in projects at the development and production stage. It is a continuing policy of\nthe Group to pay a substantial proportion of these royalties to shareholders as dividends.\n\nRoyalties explained:\n\nA royalty...