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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. The Group also owns a 2.5% escalating net smelter royalty on Northern Star Mining Corporation's Midway and McKenzie Break properties in Quebec, Canada. 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 Orvana Minerals. Mining and exploration interests
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