27 Jun 2013 10:40
27 June 2013
Beacon Hill Resources Plc / AIM: BHR / ASX: BHU / Sector: Mining
Beacon Hill Resources Plc ('Beacon Hill' or 'the Company')
Share Price Movement
The Board of Beacon Hill Resources Plc, the AIM and ASX listed coal producer focussed on Mozambique, notes the recent fall in the Company's share price.
Rowan Karstel, CEO of BHR commented: "Shareholders should be re-assured that the isolated incidents of isolated security incidents over the previous week have had no impact on our mining operations in Tete, Mozambique. In addition, we do not anticipate any future effect on our rail operations, which, in any event, are not due to commence until Q3 2013. We expect heightened political activity to persist until the conclusion of the 2014 elections and our team continues to work closely with CFM (Mozambique Ports and Railways) and the Government of Mozambique to monitor the situation.
"In terms of Company update, I am pleased to say that we will issue our updated reserve statement shortly and, in addition, a further operational update on the substantial progress we have made in commissioning the wash plant during the month of June. We have been running at up to 3,000 tons per day of run of mine (ROM) feed producing both coking coal and thermal to expected specification and qualities."
**ENDS**
For further information, please contact: | |
Beacon Hill Resources Plc | |
Justin Farr-Jones, Chairman (jfarr-jones@bhrplc.com) Rowan Karstel, Chief Executive Officer (rowan.karstel@bhrplc.com) | |
Timothy Jones, Group Finance Director (timothy.jones@bhrplc.com) | + 44 (0) 1372 464 549 |
Canaccord Genuity Limited (Nominated Adviser) Andrew Chubb / Joe Weaving |
+44 (0) 20 7523 8000 |
St Brides Media & Finance Limited (Financial Public Relations) Susie Geliher / Elisabeth Cowell |
+44 (0) 20 7236 1177 |