Anglo 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.
The latest forecast information provided by Rio Tinto, as part of the Group’s information rights in relation to forward guidance at Kestrel, indicates mining within the Group’s private royalty lands for H1 2016 will be approximately 20-25% rather than the 30-35% previously guided. The Company understands that this is due to the delayed commencement of mining of longwall panel 404, which is largely within the Group’s private royalty area, and is now expected to commence at the beginning of H2 2016. We expect mining within the Group’s private royalty land will be approximately 85-90% in H2 2016 resulting in significantly higher volumes than H1 2016 and continue to anticipate that total mining within the Group’s private royalty land in 2016 will be approximately 60-65% as previously guided.
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