Tuesday, August 14, 2012

Anglo Pacific Group (LSE: APF / TSX:APY) - Interim Results 2012

Anglo Pacific Group are the sole listed royalty company on the Main Board in London.
§ Anglo Pacific is ‘back on track’, following a Q1 performance impacted by reduced Kestrel royalty receipts due to a longwall changeover and adverse weather in Queensland
§ Kestrel royalty (coking coal in Australia, operated by Rio Tinto) returned to expected production levels in Q2 – and the recovery in production is expected to continue during H2 2012
§ Current market conditions are favourable for additional royalty acquisitions – during 2012 to date, Anglo Pacific has acquired two new royalties (Mount Ida and Churchrock)
§ Progress made at development royalties, which the Company believe should bring forward future cash flows from these royalties
§ Interim dividend increased by 4.7% to 4.45p per share

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