Anglo Pacific Group PLC - natural resources royalty and streaming - Completes sale of its 1% gross revenue royalty over the Narrabri mine in Australia to the operator, Whitehaven Coal Ltd, for up to USD36 million. The sale price is structured as fixed payments totalling USD21.6 million and contingent payments that could generate a further USD14 million, Anglo Pacific explains. The fixed payments are to be received in instalments until the end of 2026, of which around USD13 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," Anglo Pacific says.
Current stock price: 134.56 pence, down 0.5% on Friday
Year-to-date change: up 5.3%
By Will Paige; willpaige@alliancenews.com
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