Anglo Pacific Group PLC
30 July 2004
30th July 2004
ANGLO PACIFIC GROUP PLC
REPORT FOR THE QUARTER ENDED 30th JUNE 2004
For clarification purposes it should be emphasized that the following figures
report the cash received during the three months ended 30th June 2004 which
relate to the royalties earned and accrued in the previous quarter ended 31st
March 2004.
1. Gordon Resources Limited - Coalmine Royalty Entitlements - Queensland
(a) Kestrel (Rio Tinto)
The royalty received for the quarter to 31st March 2004 was A$929,606 compared
to A$182,009 for the previous quarter.
(b) Crinum (BHP Billiton)
The royalty received for the quarter to 31st March 2004 was A$1,133,593 compared
to A$1,600,810 for the previous quarter. Output was lower due to the changeover
of longwall equipment and delays due to minor roof faults.
As indicated in the 2003 Annual Report, the Company's royalties for the
remainder of 2004 are expected to increase as production continues to move to
the Company's Private Ground from Crown Land. The Company remains optimistic
about the prospects for steaming and coking coal prices for the next six months
and into 2005 when both the Kestrel and Crinum royalties should benefit
substantially from higher world prices. Demand for both coking and steaming coal
continues to be strong. Indications for the second quarter royalties are good as
contractual price changes normally commence in April each year.
2. Mining Projects
• The Company continues to advance its other private coal and coal energy
interests in British Columbia where the background for the development of
these projects has much improved over the last six months.
• In Australia the Company have been approached to participate with strategic
partners in other coal projects. These are in addition to the Company's
interests at Kestrel and Crinum. Negotiations are continuing.
• In an Alto news release dated 15th July 2004, it was announced that Anglo
Pacific had disposed of its 50% interest in the Oxford Lake gold property
in exchange for a 19% interest in Alto Ventures Limited. This Company
trades on the Canadian TSX Venture Exchange, symbol ATV. Anglo Pacific has
confidence in this investment which is reflected in the accounts at minimal
cost.
For the 2003 Annual Report and other information please refer to our website: -
www.anglopacificgroup.com
Other queries please contact:-
Matthew Tack, I.C.A.A., Group Financial Controller 020 7409 1111
ANGLO PACIFIC GROUP PLC
PROFORMA QUARTERLY STATEMENT OF CONSOLIDATED CASHFLOWS
FOR THE QUARTER ENDED 30TH JUNE 2004
CURRENT QUARTER YEAR TO DATE
£m £m
CASHFLOWS RELATED TO OPERATING ACTIVITIES
Receipts from product sales and related debtors - -
Payments for:
Exploration and evaluation - -
Development - -
Production - -
Administration (0.1) (0.2)
Dividends received - -
Interest and other items of a similar nature received - -
Interest and other costs of finance paid - -
Income taxes paid (0.2) (0.4)
Other - Royalties received 0.8 1.5
NET OPERATING CASHFLOWS 0.5 0.9
CASHFLOWS RELATING TO INVESTING ACTIVITIES
Payment for equity investments (0.9) (2.9)
Payment for purchases of other fixed assets
- -
Proceeds from sale of equity investments 0.4 2.6
NET INVESTING CASHFLOWS (0.5) (0.3)
CASHFLOWS RELATED TO FINANCING ACTIVITIES
0.1
Proceeds from issue of shares, options etc. -
-
Proceeds from borrowings -
Repayment of borrowings - -
Dividends paid - (1.0)
NET FINANCING CASHFLOWS - (0.9)
NET INCREASE/(DECREASE) IN CASH HELD - (0.3)
Cash at beginning of quarter/period 1.6 1.9
Exchange rate adjustments - -
CASH AT END OF QUARTER/PERIOD 1.6 1.6
ANGLO PACIFIC GROUP PLC
PROFORMA QUARTERLY STATEMENT OF CONSOLIDATED CASHFLOWS
FOR THE QUARTER ENDED 30TH JUNE 2004
Amount Available Amount Used
£'000 £'000
FINANCING FACILITIES AVAILABLE
300 Nil
Barclays Bank PLC - overdraft facility
Barclays Bank PLC - Loan facility Nil Nil
ESTIMATED CASH OUTFLOWS FOR NEXT QUARTER £'m
Exploration and evaluation Nil
Development Nil
Current Quarter Previous Quarter
£'000 £'000
RECONCILIATION OF CASH
Cash on hand and at bank 64 14
Deposits on call 1,537 1,552
Bank overdraft - -
Total cash at end of quarter 1,601 1,566
ISSUED AND QUOTED SECURITIES AT END OF CURRENT QUARTER
Categories of Securities Number Issued Number Quoted
Ordinary Shares 88.17 million 88.17 million
Number Exercise Price Expiry Date
1,000,000 18p 10/12/04
Options 900,000 23.5p 13/10/06
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