ATH8 Dec 2010 07:07
Commenting on the Preliminary Results, Alistair Black, Chief Executive of ATH, said:
"During a difficult year, the Group disposed of the Regeneration business, significantly reducing debt and enabling the management team to focus on its core activities. The Group also increased its proved reserve base by 30% to record levels. 2011 will see production commencing at two new mines at Netherton and Duncanziemere which will form the cornerstone of the Group's production for the next few years. Debt is expected to continue to reduce and, over the medium to long term, reserves should increase further. The Group is well positioned to deliver increasing returns to shareholders as the impact of its legacy contracts reduces significantly during 2012."