RE: Interims...15 Oct 2015 13:23
At times like this, with a certain amount of confusion apparently about, it is always worth re-visiting the latest results for vital "clues".
....I have cherry picked a few that give me confidence...but please, anyone, feel free to play "Bad Cop" LoL
1). "As previously communicated, it is the Group's intention, subject to maintaining an expected level of adjusted earnings, to maintain bi-annual payments of 4.00p per share until such time that the equivalent of 65% of adjusted earnings per share is higher, at which point the dividend will increase."
2). "We expect 2015 to show significant growth in royalty income for Anglo Pacific. The latest forecasts which we have received from Rio Tinto confirm that our previous guidance of 70-75% of production at Kestrel should be within the Group's private royalty land."
3). "Our progress in 2015 is encouraging when considered against the wider mining industry, which continues to see large scale impairment charges and margin erosion following the decline in commodity prices to date in 2015. ..."
As Swallow72 noted..."This presents real opportunities for Anglo Pacific to acquire royalties over high quality, low cost, long life assets with significant commodity price upside..."
4). ..."Whilst remaining cautiously optimistic, we believe we have turned a corner and, in an environment of depressed commodity prices, are well positioned to target world class royalties which will be earnings accretive and allow our dividend to grow."
....Plus a decent RNS today...
GLA & Best regards,
Blue