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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Ath Resources | ATH | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 0.325 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.325 | 0.325 |
| Top Posts |
|---|
Posted at 10/3/2024 21:29 by halfpenny Fall back as issues occur this week with further falls for ATH... |
Posted at 10/5/2013 16:49 by totally banjo ATH Resources plc 09 May 2013 ATH Resources plc - in administration ("ATH" or the "Company") Nominated Adviser ceasing to act and continued suspension to trading In accordance with AIM Rule 1, ATH announces that Seymour Pierce has ceased to act as nominated adviser and broker with immediate effect. Trading in the Company's securities were suspended on 5 December 2012 following the appointment William Wright, Brian Green and Allan Graham of KPMG LLP as administrators of the Company. The Company remains in administration and therefore the existing suspension to trading remains in place. Admission of the Company's securities to trading on AIM will be cancelled on the earlier of six months following the date of suspension from trading or the failure to appoint a replacement nominated adviser by 8 June 2013. This information is provided by RNS The company news service from the London Stock Exchange |
Posted at 22/11/2012 16:35 by ssords This one really difficult to read. Seems down and out BUT why the interest by those buying up the bank loans. And as was my real interest in buying originally that UK is reliant on ALL forms of energy production incl coal of which we have masses. Every form of energy has its detractors, if we listen to them all bang goes our electricity supply. Hence why I believe we depend on all sources. Just need to convince the rest of UK and ATH shares should bounce. I think that I will take a punt, even out my current loss. Rest of UK just need to sort out the clean coal issue and bingo....hopefully.Ssords |
Posted at 30/10/2012 16:27 by ginna117 Lots of small buys , is it the employees at ath buying ?.Ginna |
Posted at 27/10/2012 09:18 by the stinger You never know with ATH, however at current levels someone/a 3rd party may be able to strike a deal, down to the debt really. MCAP is currently at 330k!, last bid talks (year ago) MCAP was at 15-20 million ish with a little more debt!! and the situation was similar to todays.. so its possible any deal could increase the share price by 200-400% from 0.8p. Total gamble with possible huge gains from here, however, could fold at anytime without an investor/buyer seeing value and doing a deal. Would not suprise me if a deal was doable tho'. |
Posted at 15/10/2012 07:31 by totally banjo 15 October 2012 ATH Resources plc ("ATH" or the "Company" or the "Group") Update on Restructuring On 5(th) October 2012, the Company announced that it was in discussions with its key stakeholders to secure support for a proposed refinancing plan. Consultations with key stakeholders, including the Company's lenders, are continuing, but developments over the past week have led the Directors to believe that the Company is unlikely to attract the level of capital required to continue operating without a restructuring of the Group. Given the level of liabilities within the Company, it is unlikely that shareholder value will be maintained following any possible restructuring. Accordingly, the Company has instructed Deloitte LLP to advise on all restructuring options that may be available and to assist the Board in considering the merit of any proposals from parties who may be interested in investing in or acquiring the business. The Company will update the market on developments in due course. |
Posted at 13/10/2011 07:20 by totally banjo 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. |
Posted at 23/9/2011 08:04 by totally banjo 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." |
Posted at 13/9/2011 12:30 by topinfo 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 - |
Posted at 03/11/2010 12:02 by spaceparallax Report courtesy of GCI:_"ATH Resources: light at the end of the tunnel David Port, executive chairman and co-founder of ATH Resources, one of Britain's few remaining coal producers, is in determinedly upbeat mood as he surveys prospects from the company's Doncaster headquarters after a succession of setbacks that have slashed profits and calls on cash that have forced the AIM-quoted company to halve its dividend. ATH, which operates open-cast mines in Scotland and the Midlands, has built up reserves to a record 8.5 million tonnes and has planning permission to start production at Netherton in the West Midlands, with reserves of four million tonnes, and Duncanziemere in Ayrshire, at costs that Port insists will be lower than those at UK Coal and aborted float candidate Scottish Resources. Floated on AIM in 2004 at nearly three times its present 54.5p share price, ATH will also see the progressive ending over the coming year to 18 months of past long-term sale contracts with power stations, industrial users and others at well below currently buoyant market prices. 'We anticipate restoring the dividend,' comments Port, a move that will have particular significance in these low interest rate days and offers the prospect of increasing the yield on ATH shares from around 5 per cent, many times the bank base rate even after the payout cut, to more than 9 per cent. These developments will mark a notable turnaround in the fortunes of ATH. Pre-tax profits fell 35 per cent to £5.8 million in the year to October 2009, as a 10 per cent fall in output to two million tonnes was cushioned by 13 per cent price increases on that portion of production not subject to restrictive contracts for a 1 per cent turnover gain to £77.5 million. Thereafter, conditions deteriorated markedly. Floods in Cumbria caused exceptionally wet mining conditions north of the border. Freezing conditions and snow in January prevented transporting of the coal to market, in one instance immobilising a 12-mile overhead conveyor between one of the mines and the railhead. The company's Glenmuckloch mine ran into severe geological problems. Unsurprisingly in the circumstances, ATH went into the red to the tune of £2.9 million in the six months to April on sales volume down 8 per cent to 776,000 tonnes and turnover reduced by 4 per cent to £34.4 million. Now, however, the picture has brightened, insists Port, and a 'rebased' ATH faces a more cheerful future, with a profit recovery on the cards in the second half. The company looks forward to production from Netherton and Duncanziemere and the winding up of the remaining below-market 'legacy contracts'. It was the £14 million investment needed on these two projects that made ATH cut its dividend, but they should now help swell the company's reviving output and sales. Another development that has improved the company's cash position was July's sale of its ATH Regeneration arm, which cleans up and restores disused mine sites commercially. ATH decided it could not meet the £40 million funding needed for the regeneration side's projects and sold it to RecyCoal for £6.5 million cash down, royalties over seven years capped at £8 million and a possible £2.5 million from the eventual sale of land and buildings. Port moved from non-executive to executive chairman after the sale. Alistair Black moved from head of mining to group chief executive. Analysts reckon ATH in its new form could hoist pre-tax profits from a likely £2.5 million in 2009-10 to £4.1 million next year and £6.6 million in 2011-12 on rising turnover. Given Port's optimism about restoring the dividend, a prospective yield of 9.1 per cent has undoubted attractions. Recommendation: Long-term buy Ticker: ATH Sector: Mining Listing: AIM Mid-price: 54.5p Market cap: £22m " |
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