ATH Resources Share Discussion Threads

[loafofbread] 12/7/2010 07:20

Decent write up in Fridays IC. Good value,yield etc.

Interesting to see the holding rns due.

[chrisdgb] 09/7/2010 11:36

well plenty of room for recovery after the overhang cleared..

what price would you take in the takeover..??

[loafofbread] 09/7/2010 09:19

Happy for anyone to buy the lot.

[chrisdgb] 09/7/2010 07:20

Agree that Hargreaves could certainly be the interested party...

Will be interesting to see the Scottish Resources Group IPO to get valuation comparison..

[sammu] 08/7/2010 21:53

Or could it be the start of Alchemy selling. If it is, at least there is a willing buyer.

No way are they going to be able to sell regen for £30m. I would think Hargreaves are the logical suiter having broken off talks with UKC a month ago, but why would they just want the regeneration arm - they might as well make a go for the whole thing.
IMO a more sensible sized acquisition than UKC would have been.

[loafofbread] 08/7/2010 15:08

Bid/offer has had an about turn in our favour.

With any luck an overhang cleared.

[loafofbread] 08/7/2010 14:40

Major Shareholders
Significant shareholdings as at 1 June 2010

Alchemy Partners 18.8%
AXA Framlington Investment Management 11.6%
Close Private Asset Management 8.4%
Midas Balanced Income Fund 7.0%
W Patterson 6.2%
TJ Allchurch 4.6%
Cornelian Asset Managed Funds 3.9%
BlackRock Smaller Companies Trust plc 3.2%

400k is approx 1% so a decent purchase.

Interesting to see whos in/out. Quite a few 75/100k/25kover the past few weeks so not all doom and gloom.

My money is on Patterson or Blackrock increasing, but then I've been wrong so far.

[chrisdgb] 08/7/2010 14:24

Wow, nearly 1m shares just gone through at the mid price..

[chrisdgb] 08/7/2010 11:12

Pointing to the better outlook from Growth Company Investor:


Coal producer ATH Resources blames bad winter weather for falling first-half production and a £2.9 million interim loss. The Doncaster-based company saw sales volumes fall 8 per cent to 776,000 tonnes in the six months to April, though a 5 per cent price increase meant that turnnover fell by a lesser 4 per cent to £34.4 million.

Steered by chief executive Tom Allchurch, AIM-quoted ATH, which has operations in the Midlands and Ayrshire, nevertheless proposes to reinstate an interim dividend, paying 1p a share. The company, which has proven reserves up by a third at 6.7 million tonnes, has agreed new long-term sales contracts at improved prices and has won planning permission for activities at Nertherton in the Midlands and Duncanziemere in Ayrshire.

ATH says it is considering an approach from an unnamed source for its ATH Regeneration arm, which cleans up disused mine sites, restores the land for local authorities and collects and sells the remaining coal. ATH Regeneration has had to contend with a succession of planning hold-ups at a project in Langton in Nottinghamshire, where it hopes to reclaim some 175,000 tonnes of coal annually for two and a half years.

Looking ahead, Allchurch argues that ATH Resources wil be able to 'access a rapidly improving coal market, leading to significant improvements in future profitability'. The stock market is taking a cautious view, and the shares, which were floated at 136p in 2004 and have traded between 93.5p and 48p over the past 12 months, now change hands at 64.5p, down 3.5p this morning, valuing the company at £25.8 million.

[chrisdgb] 08/7/2010 06:14

Agree with that and lets hope so...

Well overdue a bounce here..

[cnx] 07/7/2010 19:14

chris

planning news is only one aspect but indicates the future

todays question is how sound is the operational management?
and can they deliver sound financial results?

[chrisdgb] 07/7/2010 10:52

Thanks for the comments, let us hope it gets done soon to get some confidence back here...I still think looking through the production issues the future looks excellent..

We seem to have lost sight of the fantastic planning news recently..

[loafofbread] 07/7/2010 10:34

£30M?

[chrisdgb] 06/7/2010 09:10

Does anyone have decent knowledge on how much we could expect from the Takeover..??

[chrisdgb] 05/7/2010 05:55

I wonder how quickly we will get news of the takeover price/progress for the Regeneration part..??

[loafofbread] 01/7/2010 21:06

Profile from ath website

ATH Resources is an AIM-listed operator of opencast coal mines and land remediation projects. It has four mines in production in East Ayrshire and Dumfries and Galloway and one major reclamation project in Yorkshire. The Company is the third largest producer of coal in the UK producing over 2 million tonnes per annum. Coal was used to generate 38 per cent of the UKs electricity in 2006 and the Company holds coal supply contracts with three of the UKs main electricity generating companies.

The Group commenced operations in 1998 when it acquired the rights to operate (and subsequently acquire) the Skares Road mine. The Garleffan mine was acquired in November 2003 and ATH Resources became a public company in June 2004 when it listed on the Alternative Investment Market (AIM). In June 2005 the Group funded two new opencast sites, Grievehill and Glenmuckloch in Scotland for 18 million by way of an Open Offer to shareholders. The acquisition increased the Groups coal reserve base by 160% and provided greater diversity to the business.

In May 2006 the Group acquired Doncaster-based A Ogden & Sons Limited a successful coal recovery, land remediation and regeneration business with a particular focus on colliery spoil heap reclamation projects. ATH paid net 9.5 million for the business. The acquisition, recently renamed ATH Regeneration Ltd allows ATH to build on its skills as a regenerator of land, whilst developing strong relationships with key English planning authorities.

In October 2006, following a successful planning application the Group commenced work on its new Laigh Glenmuir opencast coal mine in East Ayrshire.

In addition to its operating mines, the Group also has a number of other coal mining projects in Scotland and two through its French subsidiary, SRMMC including a series of six existing coal concessions in south-central France, covering an area of 36km, 2 with an estimated resource of approximately 4.5 million tonnes of recoverable coal.

[chrisdgb] 01/7/2010 09:59

Decent volume today, I still think the market is totally misunderstanding recent developments.....

[chrisdgb] 01/7/2010 09:59

Decent volume today, I still think the market is totally misunderstanding recent developments.....

[loafofbread] 01/7/2010 09:58

Interesting volume/trades today.

Has anyone seen any broker comment?

[loafofbread] 30/6/2010 21:13

300k of buys yesterday and 30k of sells today.

Not quite the headline figure I was expecting. A shame when you begin to doubt the intentions of the company you invest in.

I assume the analyst presentations went ahead so hopefully some guidence from them.

One step forward, 2 steps back.

£40M for regeneration sounds fair.

[labatie] 30/6/2010 20:41

But it's not at all thst sort of market at present

[chrisdgb] 30/6/2010 18:24

OK, legacy weather related production issues are the only negative, but the coal is still there..!!

Takeover offer for one part of the business/coal prices rising/paying a dividend again and most recently massive planning win...

Sorry but the price should still have gone up today...!!!!

[labatie] 30/6/2010 15:02

I agree. If they're not careful someone's going to nip in and buy some cheap reserves now that the PPs have been decided in their favour.

[spaceparallax] 30/6/2010 09:30

Sadly, these results are likely to reverse the recent good news. 60p more likely.