Anglo Pacific Group PLC Announces Completion of Narrabri thermal coal royalty sale

2021-12-31 / @accesswire

 

Anglo Pacific Group PLC Completion of Narrabri thermal coal royalty sale

LONDON, UK / ACCESSWIRE / December 31, 2021 / Further to the announcement on 14 October 2021, Anglo Pacific Group PLC ("Anglo Pacific", the "Company", or the "Group") (LSE: APF, TSX: APY) is pleased to announce the completion of the sale of its 1% gross revenue royalty over the Narrabri mine to the operator, Whitehaven Coal Limited ("Whitehaven") for consideration of up to $36 million.

The consideration is structured as fixed payments totalling $21.6 million and contingent payments which could generate a further $14million. The fixed payments are to be received in instalments until 31 December 2026, of which ~$13 million will be received within the next 18 months.

The completion of the sale of the Narrabri royalty marks the Group's exit from thermal coal as we continue to pursue our strategy of increasing our exposure to commodities that support a more sustainable world. We remain active, evaluating opportunities and are confident in our pipeline and ability to further diversify the business.

The Group will release its Q4 2021 trading update in January 2022, which will include further details on the Chief Executive Officer transition.

For further information:

Anglo Pacific Group PLC

+44 (0) 20 3435 7400

Julian Treger - Chief Executive Officer
Kevin Flynn - Chief Financial Officer
Marc Bishop Lafleche - Chief Investment Officer

Website:

www.anglopacificgroup.com

Berenberg

+44 (0) 20 3207 7800

Matthew Armitt / Jennifer Lee / Varun Talwar / Detlir Elezi

Peel Hunt LLP

+44 (0) 20 7418 8900

Ross Allister / Alexander Allen / David McKeown

RBC Capital Markets
Farid Dadashev / Marcus Jackson / Jamil Miah

+44 (0) 20 7653 4000

Camarco

+44 (0) 20 3757 4997

Gordon Poole / Owen Roberts / Charlotte Hollinshead

Notes to Editors

About Anglo Pacific
Anglo Pacific Group PLC is a global natural resources royalty and streaming company. The Company's strategy is to become a leading natural resources company through investing in high quality projects in preferred jurisdictions with trusted counterparties, underpinned by strong ESG principles. It is a continuing policy of the Company to pay a substantial portion of these royalties and streams to shareholders as dividends.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Anglo Pacific Group PLC



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