27 Sep 2013 09:45
27 September 2013
Strategic Natural Resources Plc
("SNR" or the "Company")
Receipt of payment for first shipment of coal from the Elitheni Mine
SNR, the AIM listed natural resources developer operating in South Africa, announces that it has received payment for the first shipment of coal from the Elitheni Mine at Indwe in the Eastern Cape of South Africa. The shipment left the Port of East London on 2 September 2013.
The Company's first shipment of coal from the Elitheni Mine was of thermal coal (the delivery made in January 2013 comprised traded anthracite and not coal mined at the Elitheni Mine). Based on the Company's forecast coal market pricing and current mine planning, costs and yields it is anticipated by the board of SNR that future coal shipments for the foreseeable future will also be of thermal coal rather than anthracite.
For further information, please contact:
Strategic Natural Resources plc | |
Andy Brennan, Chairman Gabriel Ruhan, CEO | +44 (0)20 3328 5656 |
Allenby Capital Limited - Nominated Adviser and Broker | |
Nick Naylor/Mark Connelly/James Reeve | +44 (0) 20 3328 5656 |
FTI Consulting | |
Ben Brewerton/Georgia Mann | +44 (0) 20 7831 3113 |
For further information about Strategic Natural Resources plc please visit www.snrplc.co.uk