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Last checked at 
23 Oct 2008 17:31
Atlantic Coal plc / Index: AIM / Epic: ATC / Sector: Mining
23 October 2008
Atlantic Coal PLC
('Atlantic' or the 'Company')
Directors Dealings
Atlantic was notified on 22 October 2008 that the following directors of the Company purchased Ordinary Shares of 0.07p in the Company on 22 October 2008 at a price of 0.45135 pence per share:
|
Name of Director |
Number of Ordinary shares acquired |
Number of Ordinary Shares held following share acquisition |
New percentage holding of total issued share capital |
|
Adam Wilson (Non-Executive Chairman)* |
5,560,000 |
62,233,000 |
5.24% |
|
Greg Kuenzel (Finance Director) |
1,800,000 |
2,940,000 |
0.25% |
|
Ray Petrilla (Executive Director) |
577,470 |
4,704,801 |
0.40% |
|
Toby Howell (Non-Executive Director) |
1,110,000 |
5,385,000 |
0.45% |
|
Max Crosland (Non-Executive Director) |
1,110,000 |
1,100,000 |
0.09% |
|
Mary Best** |
8,220,000 |
105,328,633 |
8.86% |
\* This acquisition has taken Adam Wilson over 5%, from his previous 4.77% holding.
**Mary Best is the spouse of Steven Best, the Managing Director of the Company.
For further information on the Company, visit: www.atlanticcoal.com or contact:
|
Atlantic Coal plc |
Stephen Best / Greg Kuenzel |
Tel: 020 7182 1747 |
|
HB Corporate |
Rod Venables / James Reeve |
Tel: 020 7510 8600 |
|
Fox Davies Capital |
Richard Hail, Head of Corporate Finance |
Tel 020 7936 5230 |
|
St Brides Media & Finance Ltd |
Hugo de Salis / Victoria Thomas |
Tel: 020 7236 1177 |
About the Company:
Atlantic Coal owns and operates the Stockton Colliery which comprises an opencast anthracite mine and an adjacent anthracite washing plant. The mine is an established non-union surface mine encompassing circa 900 land acres in the Hazle Creek Valley, Pennsylvania and has an estimated proven reserve of 4 million tonnes. Mining of raw coal is from the high quality mammoth seam, while washing and sizing takes place in the 150 tonne per hour coal preparation plant. J T Boyd Company, the Company's Competent Person, estimated that there is over 10 years of mine life from existing reserves at an average production rate of 400,000 Run of Mine ('ROM') tonnes per annum. Based on historic production levels, the mine is capable of and is projected to produce approximately 450,000 ROM tonnes of coal per year. Mining operations are conducted by the use of hydraulic excavators. Uncovered raw coal is then loaded into 100 tonne trucks for delivery to the onsite preparation plant. As each section of the mine is developed, mining progresses from the northern and southern faces into the basin. This yields a constant flow of raw coal to the preparation plant.
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