ATH Resources Share Discussion Threads

[cnx] 07/12/2011 09:34

more bad news ..................these people are hopeless

[hannahc] 14/10/2011 16:52

Please click on the link below to access our latest research report on ATH Resources:



Kind regards,

The Equity Development Team

[hannahc] 14/10/2011 16:51

Please click on the link below to access our latest research report on ATH Resources:



Kind regards,

The Equity Development Team

[totally banjo] 13/10/2011 08:20

RNS Number : 0023Q

ATH Resources plc

12 October 2011


Press Release 12 October 2011

ATH Resources plc

("ATH Resources" or the "Group")

Pre-Close Trading Update

ATH Resources plc (AIM: ATH), one of the UK's largest coal producers, today issues the following trading update ahead of the Group's preliminary results for the year ended 2 October 2011 which are expected to be announced on Wednesday, 7 December 2011.

Current Trading

Sales volumes in the second half of the year of 960,000 tonnes were significantly higher than the six months to March 2011 (706,000 tonnes). Average sales prices for the year increased by around 15% to over GBP50 per tonne (2010: GBP43.68 per tonne) and trading profits before exceptional items, but including the costs of the unsuccessful takeover talks, will be close to market expectations.

Costs have increased significantly during the year, with expenditure on gas oil and tyres some GBP6 million higher than in the same period last year. The Board now believes that there is little likelihood that the current level of these costs will reduce in the foreseeable future and has therefore increased the provision for the future restoration of its sites by an additional GBP1.6 million. This additional exceptional item will increase the loss before tax indicated at the half year.

The Group's cash position has been managed well, with year end debt levels reduced by some GBP3 million. Additionally, the Group has renegotiated its bank facilities with its existing lenders to extend the life of these facilities whilst also providing greater flexibility. However, given the continued impact of the legacy contracts and the significant increase in costs, particularly in gas oil, the Board does not anticipate reinstating the dividend payment at this time. It will however review the position at the time of next year's interim results.

Coal reserve update

In line with expectations, production this year will exceed new sites entering the planning system and therefore year end proved and probable reserves will be lower at 7.9 million tonnes (2010: 8.6 million tonnes). During the next 12 months it is expected that new applications totalling around 2 million tonnes will enter the planning system.

Carbon Reduction Commitment ("CRC") Scheme

The Board remains of the view that the electricity consumption of its 12 kilometre conveyor should be exempt from the CRC Scheme. However, the Government is challenging the Group's decision not to opt into the Scheme and a hearing to clarify the situation is expected towards the end of the current calendar year. The potential impact to the Group if it fails to win exemption from the CRC Scheme would be an increase in its costs by a further GBP1.4 million per annum for each of the three years from April 2011.

Outlook

It is expected that the exceptional non-cash write offs which have been a feature of recent Group results have now been completed. This, together with the imminent completion of the first of the three legacy contracts which have significantly held back the profitability of the Group and with average selling prices continuing to increase, will result in an early return to profitability for ATH. The new site at Netherton is now in full production and is producing coal at expected volumes and quality whilst work has begun at a new site at Duncanziemere with production due to commence in the first quarter of the new financial year. Muir Dean has recently secured a new extension and Glenmuckloch continues production in line with management expectations. The end of the second legacy contract in March 2013 should see a further significant lift in earnings with a commensurate step change in the Group's profitability.

The information in this report relating to exploration results, mineral resources or mineral reserves is based on information compiled by Mr. Peter Morgan, a full-time employee of the Group, who is a Fellow of the Institute of Materials, Minerals and Mining. Mr. Morgan has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration. He has reviewed and consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. A glossary of terms is available on our website - www.ath.co.uk.

[loafofbread] 13/10/2011 07:31

Sey P keep their 78p target and buy rating.

[totally banjo] 23/9/2011 09:04

RNS Number : 6162O

ATH Resources plc

21 September 2011


Press Release 21 September 2011

ATH Resources plc

("ATH Resources" or the "Group")

Planning approval received for an extension to existing site at Muir Dean

ATH Resources plc (AIM:ATH), one of the UK's largest coal producers, is pleased to announce that its application to mine 0.35 million tonnes of coal reserves from the Annfield extension has been approved by the local planning authority in Fife. As anticipated in planning processes of this nature, a number of matters are still to be concluded prior to the start of work at the mine, which is scheduled to commence production towards the end of 2011.

The Annfield mine is an extension to ATH's existing operation at Muir Dean which is expected to finish production in 2012.

Alistair Black, Chief Executive of ATH Resources, said: "This planning approval provides continued employment for 70 direct employees in the area and is an important contributor to the future of the ATH business as well as the local economy in this part of Fife."

[topinfo] 13/9/2011 13:30

DJ ATH Resources plc Offer Talks Terminated

TIDMATH

RNS Number : 1528O

ATH Resources plc

13 September 2011

ATH Resources plc

("ATH" or the "Company")

Offer Talks Terminated

On 26 July 2011, the Board of ATH announced that it was in preliminary discussions with a third party that may or may not lead to an offer being made for the Company.

The Company has confirmed with each of the parties with whom it was in discussion that they are no longer actively considering making an offer for ATH. The Board now announces that as the Company is no longer in discussions in relation to an offer being made for the Company it is no longer in an offer period under the Takeover Code.

- Ends -

[semper vigilans] 12/9/2011 10:23

When are they going to make their mind up? Dragging on a bit.

[loafofbread] 28/7/2011 11:05

Always thought Hargreaves would be in the frame.

Everyone talking the price down because of the debt, pity they don't look at the value of the assets.

Let's hope David sticks to his guns.

[gfrae] 26/7/2011 14:52

As noone believes anything that this company says anymore,will probably be bid for by a related party,probably connected to the private equity people who originally floated it,at a derisory price.
They will probably get it too,as all punters fed up of waiting for the next piece of bad news.

[semper vigilans] 26/7/2011 13:50

Good call Wind - cheaper listing route?

[windass] 26/7/2011 12:25

Scottish Coal anyone? Had to pull LSE listing last year.

[windass] 26/7/2011 11:28

Could it be any other London listed miners making the bid?

[totally banjo] 26/7/2011 09:55

yep,explains a lot :-)

ATH Resources plc

26 July 2011

ATH Resources plc

("ATH" or the "Company")

Statement regarding possible offer

The board of ATH notes the recent rise in the Company's share price and announces that it is in preliminary discussions with a third party which may or may not lead to an offer being made for the entire issued share capital of the Company.

Shareholders of the Company should be aware that there is no certainty that an offer will be forthcoming.

A further announcement will be made in due course.

[loafofbread] 26/7/2011 09:52

At last.

At least it explains yesterdays rise. Good timing. Share price on it's back and long term holders like me underwater and desperate to get out.

Always thought a £1 would do it. Lucky to get 60-70p if the MMs can be believed.

10M T of coal worth £500/£600M plus the stuff in France and the kick back from
ATH regeneration to come.

£50M +debt would be fair but I can't see it. That said if it is Hargreaves they could use their paper at £10. Otherwise a USA/Indian/PE outfit.

Or the whole thing will fold at the first.

[loafofbread] 25/7/2011 11:06

My god. Blue!

[loafofbread] 19/7/2011 08:14

No more bad news must be good news?

[cnx] 23/6/2011 17:07

The Glenmuckloch East mine is an extension to ATH's existing operation at Glenmuckloch which will finish in the autumn of this year.

Alistair Black, Chief Executive of ATH Resources, said: "This planning approval provides continued employment for 90 people in the area and is an important contributor to the future of the ATH business and the local economy in this part of Dumfries and Galloway."




Mr Black,anything for the sharehoders?

[cnx] 23/6/2011 17:03

pity you could not comment on the management capability! ouch

[hannahc] 23/6/2011 16:29

Please click on the link below to access our latest research note on ATH:



Kind Regards,

The Equity Development Team

[hannahc] 23/6/2011 16:29

Please click on the link below to access our latest research note on ATH:



Kind Regards,

The Equity Development Team