3 Dec 2010 09:33
News Release
December 3, 2010
Anglo Pacific Group PLC files amended and restated Kestrel Technical Report (NI 43-101)
Anglo Pacific Group PLC (the "Group") (LSE: APF) (TSX: APY), announces that an amended and restated technical report (NI 43-101) in relation to its Kestrel coal royalty was filed on SEDAR on November 30, 2010.
The amendments relate to computational errors in Tables 14.4 and 16.3 which outline the Ore Reserve Economic Viability Assessment and Royalty Stream Analysis respectively on a 100% ownership basis. In the previously filed technical report both tables indicated royalty percentages in excess of the maximum 10% levied under the Queensland Mineral Resources Act (1989).
The Group do not consider the amendments to be of a material nature as they do not impact the carrying value of the Group's 50% ownership interest in the Kestrel coal royalty, which is independently valued at each reporting date.
The amended and restated technical report is available electronically on the SEDAR website at www.sedar.com.
For further information:
Anglo Pacific Group PLC +44 (0) 20 7318 6360
Peter Boycott, Chairman
Matthew Tack, Finance Director
Liberum Capital +44 (0) 20 3100 2000
Chris Bowman
Ellen Francis
Scott Harris +44 (0) 20 7653 0030
Stephen Scott
James O'Shaughnessy
Website: www.anglopacificgroup.com
Important notice
This news release contains forward-looking statements based on assumptions and reflects Anglo Pacific's expectations, estimates and projections of future events as of the date of this release. Forward-looking statements include, without limitation, statements regarding the performance, prospects, opportunities, priorities, targets, goals, objectives, strategies, growth and outlook of Anglo Pacific. Often, but not always, forward-looking statements can be identified by the use of words such as "expects", "anticipates", "plans", "believes", "estimates", "seeks", "intends", "targets", "projects", "forecasts", or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements are based upon certain material factors and assumptions that were applied in drawing a conclusion or making a forecast or projection, including assumptions and analyses made by Anglo Pacific in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that are believed to be appropriate in the circumstances. Also, forward-looking statements involve known and unknown risks, uncertainties and other factors that are beyond the Company's control and which may cause the actual results, performance or achievement to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such material factors and assumptions and risks and uncertainties include, among others, those described in the Company's annual information form dated as at June 29, 2010 (available on Anglo Pacific's website and at www.sedar.com), which are incorporated by reference into this release and qualify any and all forward-looking statements made in this release.
Although Anglo Pacific has attempted to identify factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that actual results will be consistent with these forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements herein relate only to events or information as of the date on which the statements are made and, except as specifically required by law, Anglo Pacific undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise.