Business
Kestrel Royalty Update
Kestrel Royalty Update.
About this update from Ecora Royalties Plc
[{"type":"text","content":"\n \nRNS Number : 7775E Anglo Pacific Group PLC 20 July 2016 \n\nNews Release\nJuly 20, 2016\n \n \nAnglo Pacific Group PLC\nKestrel Royalty Update\n \nAnglo Pacific Group PLC (\"Anglo Pacific\", the \"Company\" or the \"Group\") (LSE: APF, TSX: APY), the London and Toronto listed royalty company, provides the following update in relation to its Kestrel royalty. \n \nThe Company has received notification from Rio Tinto of the invoiced payable tonnes for Q2 2016 which, along with the amounts already received in Q1 2016, means that sales from the Group's private royalty lands in H1 2016 will be in the range of 35-40%. This represents a significant increase on the previously guided range of 20-25%. The Group's guidance for 2016 remains unchanged at 60-65%, although the latest information suggests that this could be at the upper end of this range.\n \nThe latest information also includes the forecast for Q2 2017 for the first time, which is in line with our expectations. We continue to guide that over 90% of production will be within the Group's private royalty lands by the end of 2017. This, along with both the recent weakening of the pound against the Australian dollar and an increase in the coking coal benchmark contract price so far in 2016, should have a positive impact on the Group's reported royalty income. \n \nThis announcement is inside information for the purposes of Article 7 of Regulation 596/2014.\n \n \n \nFor further information:\n \n\n\n\n\nAnglo Pacific Group PLC\n\n\n+44 (0) 20 3435 7400\n\n\n\n\nJulian Treger - Chief Executive Officer \nKevin Flynn - Chief Financial Officer and Company Secretary\n \n\n\n\n\n\n\n\nWebsite: \n\n\nwww.anglopacificgroup.com\n\n\n\n\n\n\n\n\n\n\n\n\nBMO Capital Markets Limited\n\n\n+44 (0) 20 7664 8020\n\n\n\n\nJeffrey Couch / Neil Haycock / Tom Rider\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nMacquarie Capital (Europe) Limited\n\n\n+44 (0) 20 3037 2000\n\n\n\n\nRaj Khatri / Nicholas Harland / Ariel Tepperman\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nPeel Hunt LLP\n\n\n+44 (0) 20 7418 8900\n\n\n\n\nMatthew Armitt / Ross Allister\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nBell Pottinger\n\n\n+44 (0) 20 3772 2500\n\n\n\n\nNick Lambert / David Bass / Richard Crowley\n \n\n\n\n\n\n\n\n\n\n\n\n\nNotes to Editors\n \nAbout Anglo Pacific\n...