ATH Resources Share Discussion Threads

[totally banjo] 23/6/2011 07:13

ATH Resources plc

23 June 2011


Press Release 23 June 2011

ATH Resources plc

("ATH Resources" or the "Group")

Planning approval received for an extension to its existing site at Glenmuckloch

ATH Resources plc (AIM:ATH), one of the UK's largest coal producers, is pleased to announce that its application to mine 0.5 million tonnes of coal reserves from the Glenmuckloch East extension has been approved by the local planning authority in Dumfries and Galloway. As anticipated in planning processes of this nature, a number of matters remain to be concluded prior to the start of work at the mine which is scheduled to commence production towards the end of 2011.

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."

- Ends -

[cnx] 22/6/2011 01:32

18p down in one month ! that is 31%

do the management/directors have any clue?

[hieronymous1] 13/5/2011 16:20

If their bad luck continues, they will be taken out. Meanwhile there is a buying opportunity due to the general pessimism which will wear off in time. The potential yield still looks quite spectacular two years out.

[labatie] 21/4/2011 12:23

dunluce

I agree. I sold below these prices but glad to be out. Always something

Next time the dog will have eaten their homework.

Such a pity

[cnx] 21/4/2011 11:12

jam tomorrow

[gnnmartin] 21/4/2011 08:31

Well, looks like it's not yet time to buy. :-(
Nigel Martin

[dunluce] 21/4/2011 07:09

Have reluctantly decided to sell out today - there always seems to be one reason or another for below expected performance.

[cnx] 20/4/2011 17:56

i always have the feeling our directors are in the pit rather than at the coal face

[gnnmartin] 15/4/2011 18:56

Spitt, thanks.

[spitt] 15/4/2011 11:32

Gas Oil is the trade name for Red diesel.

[gnnmartin] 14/4/2011 10:08

The situation is interesting. The downside is that most of their coal (60% ?) is still sold at a fixed price agreed when the price of their fuel was much lower, so the current high price of oil will be hurting. Fuel is their biggest single cost item. I don't know enough to quantify the hit.

On the upside, the fixed price contracts are coming to an end. I forget the figures, I did have them but can't dig them out in a hurry. New contracts will be tied to market prices for coal (I believe) which should mean that ATH don't get quite so screwed by a surge in oil prices: on the other hand they won't get a bonanza if the price of energy falls.

The real wild card here is the Japanese problems with their nuclear reactors, which could give coal a long term boost. Lots of countries are pulling back from nuclear energy, though the effect may not be permanent.

I'm expecting an update to ATH progress in the next few days. I had planned to buy more if the update showed that they were not too badly hit by the high price of fuel. It looks like others have jumped the gun, so perhaps I will be content with my current holding.
Nigel Martin

PS. I've talked about 'fuel', by which I mean what the company call gas oil. Since I don't know exactly what gas oil is (is it diesel? or diesel and gas?) I've stuck to 'fuel', but I'm aware that sounds as if I could be talking about coal!

[loafofbread] 12/4/2011 07:17

Decent volume yesterday, and a nice delayed buy.

I wonder what is behind this new found interest.

[loafofbread] 11/4/2011 07:12

Nice to see a little interest here again.

enviro, any chance you could post some links please?

[envirovision] 06/4/2011 10:41

Good to see a nice quite thread here. ATH came up whilst I was doing a personalised scan for forecast growth with my Sharescope. Theres some really interesting research and articles out there on ATH. I decided to buy some.

[divinausa1] 29/3/2011 23:02

FAIRFAX 28/03/11

Coal – The Ministry for Industry in Vietnam has announced that the country is expecting to have to import coal from 2015 on the back of rising demand from its thermal power plants.

New forecasts suggest that European coal could rise to US$141/t to the highest level in 2 years as demand spikes influenced by events in Japan.

Falling stockpiles at the Chinese Port of Qinhuangdao has lead to benchmark prices rising for the first time in a month.

Macquarie has announced that it expects Japanese coal imports to decline by around 8million tonnes.

[this_is_me] 20/3/2011 23:10

Short termism! These will at least double sometime between now and the release of the 2013 results. Patience will be rewarded at some point.

[ssords] 20/3/2011 12:59

Maybe the Nuclear problems in Japan may just hurry up efforts to generate clean coal energy. We have tons of reserves under our feet. I still think that we should aim for a mix - Nuclear/Gas/ Renewables ....and coal. So am hanging on in there.
ssords

[19wizard] 11/3/2011 16:24

Can anybody try and explain the major drift down in price in the last few weeks ? Now down to their net tangeable assets of 55p per share.

[loafofbread] 07/2/2011 14:00

FFS give us some blue!

Volume and buys = price rise

[spaceparallax] 28/1/2011 09:26

All the best Loaf, I'm sure we'll be in touch again.