Anglo Pacific Group PLC Announces Q1 2016 Trading Update

LONDON, UNITED KINGDOM–(Marketwired – May 25, 2016) – Anglo Pacific Group PLC (TSX: APY) (LSE: APF)

(LSE: APF; TSX: APY)

News Release
May 25, 2016

Anglo Pacific Group PLC
Q1 2016 Trading Update

Anglo Pacific Group PLC (“Anglo Pacific”, the “Company” or the “Group”) (LSE: APF; TSX: APY), the London and Toronto listed royalty company, issues the following trading update for the period January 1, 2016 to May 23, 2016. Unless otherwise stated, all unaudited financial information is for the quarter ended March 31, 2016.

Highlights

• Royalty income of £1.9m in Q1 2016 (Q1 2015: £2.3m, Q4 2015: £3.0m) in line with the Group’s expectations that the majority of royalty income, similar to 2015, will be received in H2 2016
• Guidance from Kestrel remains unchanged with 30-35% of production expected within the Group’s land in H1 2016 and 85-90% in H2 2016
• Recovery in both the outlook and price of coking coal and vanadium pentoxide
• First receipts from the Four Mile royalty of £0.2m
• Cash and cash equivalents of £3.7m as at March 31, 2016 (December 31, 2015: £5.7m)
• Borrowings of £9.3m as at March 31, 2016 (December 31, 2015: £7.3m)
• Following positive developments at Berkeley Energia Limited (“Berkeley”), the Group’s equity stake is valued at £10.3m (as of May 23, 2016) and the implied value of the Group’s royalty, based on Berkeley’s recently announced deal, is approximately $10m higher than the value carried on our balance sheet

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