Holding(s) in Company

21 Oct 2008 07:00



Atlantic Coal plc / Index: AIM / Epic: ATC / Sector: Mining

21 October 2008

Atlantic Coal Plc (AIM: ATC)

('Atlantic' or 'the Company')

Holdings in Company

Atlantic was informed on 20 October 2008 that Peter John Chinneck had purchased 10,000,000 ordinary shares of 0.07p each in the Company thereby increasing his holding and he is now interested in 60,000,000 ordinary shares in the Company, representing 5.05% of the Company's issued share capital.

**Ends**

For further information on the Company, visit: www.atlanticcoal.com or contact:

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.