Business
Completion of royalty financi
Completion of royalty financi.
About this update from Ecora Royalties Plc
[{"type":"text","content":"\n RNS Number : 5209Y Anglo Pacific Group PLC 04 September 2009 \n\n\nNews Release\n\n4th September 2009\n\nAnglo Pacific Group plc\nCompletion of net smelter royalty financing with Northern Star\n\nAnglo Pacific Group plc ('the Company') is pleased to announce that, further to its news release date 8th July 2009, it has completed its purchase of a net smelter royalty ('NSR') from the Northern Star Mining Corp ('Northern Star') (TSX: NSM) for C$8.0 million.\n\nTogether with its recent equity offering, this financing should enable Northern Star to complete the construction and development of the Gauthier decline at its Malartic-Midway gold project in Quebec, Canada. \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 generates returns for shareholders by receiving royalties from operating mines including coking coal mines in Australia owned by BHP and Rio Tinto. The Company's strategy is to pay a substantial proportion of these royalties to shareholders as dividends, while reinvesting the balance in strategic listed and unlisted metal exploration and production opportunities with a view to obtaining more royalties for shareholders. The Company will continue to adopt an active, merchant banking approach to mining projects to achieve better returns at reduced risk. \n\n\n\nFor further information:\n\nAnglo Pacific Group PLC +44 (0) 20 7318 6360\n\nPeter Boycott, Chairman\nMatthew Tack, Finance Director\n\nLiberum Capital &nbs...