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Company Statement
Anglo Pacific Group PLC generates returns for shareholders by receiving royalties from coal mines in Australia operated by BHP and Rio Tinto. The strategy of the Group is to pay a substantial proportion of these royalties to shareholders as dividends, while reinvesting the balance in strategic listed and unlisted mineral exploration and production opportunities with a view to obtaining more royalties for shareholders.
The Board is resolved to continue its policy of pursuing other mining interests by adopting an active, merchant banking approach to each project to achieve better returns at reduced risk. Anglo Pacific Group PLC concentrates its activities in Australia, Canada and the USA.
Current Operations
The activities of Anglo Pacific Group PLC are summarised as follows:
Mineral Royalties
Coal
The Group, via its wholly owned Australian subsidiary Gordon Resources Limited, owns a royalty entitlement to the output from the Kestrel and Crinum underground mines in Queensland other than Crown areas. The basis of calculation of the Group royalty is 7% of the invoiced value of the coal, without deduction for any costs pertaining to rail and road freight, or any other costs incurred in relation to the sale or disposal of the coal other than port and related charges.
Uranium
The Group owns a 1% net smelter royalty over the Beverley Four Mile Uranium project in South Australia. Four Mile now has an inferred JORC resource of 61 million pounds of uranium grading 0.35% uranium oxide (U3O8), with a 3Mlb per annum operation set to commence early next 2010, as reported by Alliance Resources Ltd.
The Group also owns a number of royalties over various tenements in the Athabasca basin which are currently being explored by a number of listed and unlisted exploration companies.
Gold
The Group owns a 2.5% net smelter royalty on the producing Engenho mine in Brazil which is operated by Mundo Minerals Ltd. In addition, the Group owns a 2.5% escalating net smelter royalty on the El Valle and Carles mine in Spain, which is currently being developed by Kinbauri Gold Corp.
Mining and exploration interests:
- The Group owns a number of strategic interests in quoted and unquoted coal, energy, gold, diamond, base metals and PGM mining projects.
- The Group owns mineral licences in the Groundhog and Peace River Coal deposits in British Columbia, Canada.
- The Group is participating in a joint venture to identify opportunities for some of the Group's licences in the Groundhog deposits in British Columbia, Canada.
- The Group is participating in a joint venture with Core Resources to identify mining opportunities in Australia as well as carrying out detailed investigations into a potential new coal area in Australia.
- The Group owns a substantial talc deposit in Shetland.
Geographical Spread
Australia - Scotland - Canada
Board of Directors and Key Management
| Peter Boycott | Chairman |
| Brian Wides | Chief Executive |
| Matthew Tack | Finance Director and Company Secretary |
| Mike Atkinson | Non-Executive Director |
| Dr. John Whellock | Non-Executive Director |
| Anthony Yadgaroff | Non-Executive Director |
Company Address17 Hill Street
|
Capital106,896,732 Ordinary Shares |
Year End31 December |
Nominated BrokersLiberum Capital |
Major Shareholders
| Directors' Shareholdings | ||
| M.H. Atkinson | 3,739 | 0.01% |
| P.M. Boycott | 2,833,716 | 2.65% |
| A.C. Orchard | 40,000 | 0.04% |
| M.J. Tack | 38,876 | 0.04% |
| J. Theobald | 2,500 | 0.01% |
| J.G. Whellock | 13,084 | 0.01% |
| B.M. Wides | 3,185,515 | 2.98% |
| A.H. Yadgaroff | 187,303 | 0.18% |
| Notifiable Interests (>3%) | ||
| AXA Investment Managers UK | 10,566,849 | 9.90% |
| Ransome's Dock Limited | 8,805,234 | 8.34% |
| Rathbone Brothers Plc | 7,587,141 | 7.18% |
| Legal and General Group PLC | 5,438,394 | 5.12% |
Related News
01/03/10 - Anglo-Pacific Group Expects To Move Up A League This Year, With A Canadian Listing And More Royalty Purchases10/09/09 - Anglo Pacific Goes From Strength To Strength In London, And May Now Take Its Success To Canada
30/03/09 - Anglo Pacific Offers A Generous Yield To Support Its Royalty Growth Strategy
27/10/08 - Royalties Are The Name Of The Game As Anglo Pacific Steers Towards The Perfect Storm
28/02/08 - Success Continues At Anglo Pacific, But London Remains Unappreciative
Most Recent Statement
15/01/10 - Acquisition of net smelter royalty on future uranium production of Berkeley Resources Limited30/12/09 - Directors Increase Their Holdings via Scrip Dividend Alternative and Shares Issued in lieu of Remuneration
23/11/09 - Convertible Note Facility
20/10/09 - Directors’ Share Purchases
25/09/09 - Holding(s) in Company
21/09/09 - Director/PDMR Shareholding