31 Dec 2021 07:00
News Release
31 December 2021
Anglo Pacific Group PLC
Completion of Narrabri thermal coal royalty sale
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 |
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Website: | www.anglopacificgroup.com |
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Berenberg | +44 (0) 20 3207 7800 |
Matthew Armitt / Jennifer Lee / Varun Talwar / Detlir Elezi |
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Peel Hunt LLP | +44 (0) 20 7418 8900 |
Ross Allister / Alexander Allen / David McKeown
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RBC Capital Markets Farid Dadashev / Marcus Jackson / Jamil Miah | +44 (0) 20 7653 4000 |
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Camarco | +44 (0) 20 3757 4997 |
Gordon Poole / Owen Roberts / Charlotte Hollinshead |
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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.