Anglo Pacific Group PLC Favourable Four Mile Legal Dispute Ruling (5044I)

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RNS Number : 5044I

Anglo Pacific Group PLC

19 April 2022

News Release

19 April 2022

Anglo Pacific Group PLC

Favourable Four Mile Legal Dispute Ruling

Anglo Pacific Group PLC (the "Group" or "Anglo Pacific") (LSE: APF, TSX: APY) is pleased to announce a favourable judgment with respect to its legal dispute with Quasar Resources Pty Ltd ("Quasar"), the owner and operator of the Four Mile uranium mine ("Mine") over which the Group has a 1% net smelter return royalty.

Anglo Pacific and Quasar have been engaged in a legal dispute since 2016 over the level of allocable charges being applied to calculate net smelter return revenue subject to the Group's royalty entitlement. On 13 April 2022, the Supreme Court of Western Australia ruled in favour of the Group's position that none of the costs incurred at the Mine or at the Beverley plant, where the mineral products are processed into a concentrate, should be applied as permitted allocable charges.

The parties must now finalise orders to be submitted to the judge by 22 April 2022. The Group will make a further announcement after such date detailing amounts owed to the Group from Quasar and the future application of the royalty. Quasar have 21 days from the date the final orders are made by the judge to appeal the decision.

For further information:

 
 Anglo Pacific Group PLC                                     [phone] 
 Marc Lafleche - Chief Executive Officer 
  Kevin Flynn - Chief Financial Officer 
 Website:                                               www.anglopacificgroup.com 
 Berenberg                                                   [phone] 
 Matthew Armitt / Jennifer Lee / Detlir Elezi 
 
 Peel Hunt LLP                                               [phone] 
 Ross Allister / Alexander Allen / David McKeown 
 
 RBC Capital Markets                                         [phone] 
 Farid Dadashev / Marcus Jackson / Jamil Miah 
 
 Capital Market Communications Limited (Camarco)              [phone] 
 Gordon Poole / Owen Roberts / Charlotte Hollinshead 
 

Notes to Editors

About the Group

Anglo Pacific Group PLC is a global natural resources royalty and streaming company. The Group's strategy is to become a leading natural resources company through investing in high quality projects in preferred jurisdictions with trusted counterparties, underpinned by strong ESG principles. It is a continuing policy of the Group to pay a substantial portion of these royalties and streams to shareholders as dividends.

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April 19, 2022 02:01 ET (06:01 GMT)