Share Name Share Symbol Market Type Share ISIN Share Description
Anglo Pacific LSE:APF London Ordinary Share GB0006449366 ORD 2P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +2.25p +1.98% 115.75p 112.00p 116.25p 116.25p 114.25p 114.25p 167,198.00 16:35:02
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 8.7 -30.5 -14.1 - 196.71

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Date Time Title Posts
08/12/201618:28Anglo Pacific - Coal and a lot more besides.8,085.00
08/4/201608:21Anglo-Pacific: Coal, or a brighter Future?725.00
21/11/200611:52Not my usual type of share but still rather sexy !!3.00
20/1/200416:53Scrip Dividend10.00
28/1/200209:23Anglo-Pacific: Coal, or a brighter Future?-

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Anglo Pacific (APF) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
09/12/2016 17:15:05111.75100,000111,750.00O
09/12/2016 17:10:22115.756575.24O
09/12/2016 16:51:33114.981,7902,058.21NT
09/12/2016 16:35:02115.7553,12861,495.66UT
09/12/2016 16:29:45115.50106122.43AT
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Anglo Pacific (APF) Top Chat Posts

DateSubject
10/12/2016
08:20
Anglo Pacific Daily Update: Anglo Pacific is listed in the Mining sector of the London Stock Exchange with ticker APF. The last closing price for Anglo Pacific was 113.50p.
Anglo Pacific has a 4 week average price of 121.04p and a 12 week average price of 118.96p.
The 1 year high share price is 133p while the 1 year low share price is currently 50p.
There are currently 169,942,034 shares in issue and the average daily traded volume is 230,538 shares. The market capitalisation of Anglo Pacific is £196,707,904.36.
23/9/2016
21:13
quepassa: You will recall that you said your spoon had hit the floor with mouth aghast when I wrote post 721 on 24th. March this year on the bulletin board titled "Coal or a Brighter Future" when the share price was at its very lowest of about 55p. You attention is drawn particularly to my last sentence of that post since when I have not posted. However these are my latest and most recent thoughts to stimulate the bulletin board discussion:- BY NOW, APF should be sitting on some significant and as-yet-unrealised upward re-valuations in their coking coal portfolio royalties since the near vertical price surge in coking coal this year. And similarly on some other non-coal holdings as well. Soon the cycle is likely to begin again of big upwards revaluations which will drive up NAV and drive up the share price in tandem. Whether you love coal or not, the recent multi-year perfect storm for this commodity has now passed. As a stock, APF are lagging the pack. Teck Resources of Canada has increased from C$3.5 in June to c$18 - an increase of 500% in anticipation, compared to APF's 100% increase. The other royalty streamers have had huge increases in stock prices. Dividend cover will also soon be substantially improved which make it a magnet for yield hunters in a yield starved investment world. Although the long-term outlook for coal remains resolutely in decline, in the short term the demand for coking coal is great given recent events such as the unprecedented restriction on Chinese mines. This share is likely to play catch-up with the market and with its peer group of royalty companies pretty quickly and likely has a lot further to run upwards. ALL IMO. DYOR. QP
23/9/2016
17:51
jazz319: What has happened to QuePassa It needs some de-ramping in APF to even up the advance in the share price since he (or she) seems to have gone quiet. I have held these for many years and collected great dividends to add to my income but he (she) did have me worried about dividend sustainability but I held. It did come close though. Still think there is more to come from GFRD and like companies able to benefit from house building and major projects to stimulate the economy. GFRD just finished a bypass in South Devon ahead of time, in budget and with minimum disruption. First time I have ever "ramped" but I was impressed. Holding. DYOR.
06/9/2016
11:33
lord gnome: Joined you with a few this morning. Invested mainly for the income, but with a good chance of further share price recovery as well.
25/8/2016
10:53
proactivest: Video interview with Julian Treger https://www.youtube.com/watch?v=03M_j7ZJXKM Anglo Pacific Group PLC (LON:APF, TSX:APY) chief executive Julian Treger says the company continues to progress well after reporting a “solid” performance in the first six months of 2016. “We have said that we were turning the corner and I think the first half of the year shows continued progress,” Treger tells Proactive. “Overall, it was a very solid first half of the year.” The EU referendum result also had a positive impact on the company’s results, with Treger telling Proactive: “Because of Brexit the net asset value went up and net debt didn’t rise as much as we had expected.” Treger also says that the company knows which commodities it wants to gain exposure to, adding that the continued share price rise is helping to create more opportunities for Anglo.
29/7/2016
16:22
haywards26: A nice rising share price has rid the board of the doom mongers it appears...
24/3/2016
09:32
quepassa: In my opinion only, this is the first time that APF's results RNS has an air of openness, integrity, and realism about it. Rather than giving the normal blue-skies scenario that everything is fine, they appear to accept that they and the industry face real challenges which cannot be swept under the carpet. APF appear to offer a good case as to how they shall be addressing these undoubted challenges going forward. This is a breath of fresh air. It seems clear that the dividends for the 2016 year may be reduced to a total of 6p - not such a bad thing. APF now need to step up to the plate and do as they have been saying for a long time and really diversify the portfolio away from an over-reliance on coal. Whilst APF continue to face many challenges, this apparently newly-found openness is a positive step in the right direction. It creates embryonic credibility and instills some early faith. It would not surprise me if the corner has now been turned and that the share price moves forward, providing they do not let debt grow significantly and keep the dividend under strict control. ALL IMO. DYOR. QP
23/3/2016
11:26
stevie blunder: RCTurner, They cant use a market value as there is no secondary market for these unique assets. Kestrel is treated differently to the other royalties ( I don't know why) and assigned a fair value each reporting period by outside valuers taking into account commodity prices : "Kestrel is included on the balance sheet at fair value and remeasured at each report date. There is also a corresponding deferred tax liability recognised on this revalued amount. The net reduction on the balance sheet in the period relating to Kestrel was £24.1m. This comprised a decrease in its fair value of £34.5m, largely due to a revision to the long term coal price, partially offset by a decrease in the associated deferred tax liability of £10.3m." Other Royalties do seem to be treated as I indicated: "The Group's intangible royalties, as described above, are amortised upon the commencement of production. The amortisation charge of £2.6m in the period included Narrabri, Maracás Menchen and Four Mile. " The directors also take into account operational issues, such as the Amapa royalty which has been written down. It has always looked to me as if there is no way to reflect in the balance sheet the increased real world value of a royalty due to, say, the discovery of a new resource like at Berkley. Although it may be possible once in production to make an NPV calculation as with Kestrel, the complications of taking a depreciation charge on the acquisition cost while revaluing it upwards (or perhaps later downwards) would be quite something. EDIT: It may be the case that once the royalty is depreciated fully but still paying out it is then easier to assign an NPV and add it to the balance sheet, indeed that may be what happened with Kestrel which had a very low acquisition cost. (but that is me thinking out loud) No wonder it is difficult to explain the finance to new prospective institutional investors. On another topic, they confirmed what we have all probably been thinking about the share price holding deals back : " the cost of equity remains too high at our current share price to access accretive deals funded entirely by equity." In other words if you have to pay 10% on newly issued shares they can't make the maths work. No wonder there have been no deals recently.
27/10/2015
11:21
gengulphus: I don't know for certain, but I very strongly suspect that such "The Company is not aware of any reason ..." statements are generally the result of regulators reckoning there are rumours circulating about major undisclosed information - rumours strong enough to significantly affect the share price, so that a false market is developing in the shares. They then approach the company and (in essence) say "You really need to resolve the situation - if you are aware that there is undisclosed information, disclose it; if you aren't, say so" (either option should resolve the false market, though in opposite directions!). My impression is also that once the regulators do approach the company, the company announcement generally occurs within a day or two. For example, a common sequence is that press reports speculate about takeover approaches to the company, people take the speculation seriously enough that the share price starts rising, and within a day or two, the company either announces that an approach or approaches have been made, or makes a "notes the recent rise in the share price and is not aware of any reason for it" announcement. So with regard to your point 1, I think the company is probably responding to such an approach from the regulators and the timing is basically down to the regulators having a concern about whether everything that should be disclosed has been, not to the company taking a lot of time to notice the share price falls and/or prepare an announcement. And with regard to your point 2, agreed - but it would be ridiculous to expect companies to keep on announcing already-disclosed information! Gengulphus
02/9/2014
13:44
quepassa: Thank you for posting the APF response to your "concerns". But what about the collapsing Net Asset Value per share? I'd be fascinated to hear management's response about the major collapse in Net Asset Value per share in recent times. And indeed the collapse in share price from 350p+ in 2011 to around 160p now. They talk a lot in my opinion about the importance/priority of maintaining the dividend but what about about the importance/priority of maintaining the net asset value per share? The dividend cover is now completely under water in my view. In my opinion - and without reference to APF- it may or may not generally speaking be considered by many a reckless strategy for any company to maintain a dividend if it has to be partially supported by any company continuing to cannibalise itself rather than paying dividends from income. In the case of APF, the latest RNS clearly states:- "Net assets reduced by a further GBP11.5m because of the Group's dividends.". If the net assets go down as a result of dividends being paid, it shrinks the asset base of a company. That's not good. Dividends would generally be expected to be paid out of income and profits, not when a Company is loss-making. Perceived wisdom is that you pay dividends when you make profits. Perceived wisdom is that you don't pay dividends when you make losses.- A dividend is after all by definition generally meant to mean a share in the profits of a Company. Moreover, according to the recent results, Net Assets were £216.9m on 1st. January 2014 and just six months later they have plummeted to £192million. That is some £23million+ of losses in just six months!! That's dire performance in my view. For the six months, there was a loss per share of 20.84pence but a dividend of 4.45p. Those two figures net out at a figure of minus 16.4p per share. The NAV per share has correspondingly plummeted from 196p per share to 165p per share. - And it is clear that the share price currently tracks the NAV per share. Do the maths for yourself. If H1 2015 income from their main royalty of Kestrel is already known to be minimal, where will they get the money from to maintain the promised dividend next year? It will likely perhaps come out (in part or majority) of the asset base of the Company. It seems very unlikely to me that the other royalties will make up for the known reduction in Kestrel income. So the NAV may or may not likely be negatively impacted again. And that's after APF have to find the money to pay the second and final dividend for this 2014 year, the first half of which has been a major disappointment. If we now turn to the topic of Deferred Tax Liabilities. -I have never personally been a fan of Deferred Tax Liabilities being classed as an asset which may or may not have the effect of flattering or increasing the asset base of a Company. One notes the derecognition of not insignificant Deferred Tax Liabilities in the recent results. One notes that there remain significant Deferred Tax Liability items on the APF accounts. It would be interesting to know whether there is any scope for further "derecognition" of such Deferred Tax Liability assets. As far as their main Kestrel royalty is concerned, I can but believe that many investors would urgently like to see the concrete evidence in the forthcoming mentioned reports that Rio will start digging again from APF royalty lands after H1 2015. Perhaps there is a genuine geological reason for Rio to start digging again after H1 2015 in APF royalty lands because they need to follow seams of coal. Perhaps the new mine extension to Kestrel South is so vast that Rio can continue digging for the most part outside APF royalty lands as will anyway be the case in H1 2015 and therefore avoid the APF royalty payment . The detailed forecast reports will be key. Expectations can sometimes have a nasty habit of perhaps leading to disappointment. And APF have disappointed a lot in recent times in my opinion. A tricky situation perhaps. The dividend helps support the share price. But the significant losses and great reduction in income do not in my opinion support the dividend. The collapse in NAV per share is the canary in my view. And that little bird is singing quite a song at the moment in my opinion. A louder song perhaps than the strategy to maintain the dividend. ALL IMO. DYOR. QP
02/2/2013
11:20
quepassa: Is it wise to start me off again? It seems that most, if not all people on this board have a different opinion to me. I can live with that. That's cool. And that's what makes the market. Different views. Schroders' increase doesn't seem to have lifted the price of APF though. Or have I missed something? What is your point please? Last time, you were trying to impress me that Directors had been buying ( albeit with somewhat aged data from a year back ). Earlier posts refer. I thought the comments by Nat Rothschild on Monday about his view of the weakness ahead for coal prices was interesting. That doesn't bode well. I maintain my view that the share price performance over 5 years for APF share price is dire. Good Luck to ALL and may the share prosper for you. Prelims are in ten days' time on Wednesday 13th. February. That will be an interesting day for APF watchers. ALL IMO. DYOR. QP
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