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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Ath Resources | LSE:ATH | London | Ordinary Share | GB00B013H730 | ORD 0.5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.325 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMATH
RNS Number : 3755H
ATH Resources plc
26 May 2011
Press release 26 May 2011
ATH Resources plc
("ATH Resources" or "the Group")
Trading Update
ATH Resources plc (AIM:ATH), one of the UK's largest coal producers, today announces that progress in opening up the Group's Netherton site to full production continues, with development of Duncanziemere site due to commence during this summer as planned. However, unanticipated quantities of heat affected coal in the initial excavation area at Netherton combined with the excavation of an area at the Group's Muir Dean site which has a high concentration of old workings have reduced sales volumes in recent weeks. Initial assessments would indicate that this situation is likely to continue until excavations progress away from the affected areas. The Group is undertaking a full review and expects to provide a further update in its interim results statement on 14 June 2011.
Given these recent developments and their impact on trading performance together with the continuing high cost of gas oil and the need to make the planned investment in Duncanziemere, the Board has taken the decision not to declare an interim dividend for 2011.
- Ends -
For further information:
ATH Resources plc David Port, Executive Chairman Tel: +44 (0) 7836 693798 Alistair Black, Chief Executive Tel: +44 (0) 1302 760 462 www.ath.co.uk Seymour Pierce Ltd Sarah Jacobs / John Cowie (Nominated Tel: +44 (0) 207 107 8000 Adviser) Richard Redmayne / Katie Ratner (Broker) www.seymourpierce.com
Media enquiries:
Abchurch Sarah Hollins / Mark Dixon Tel: +44 (0) 207 398 7729 mark.dixon@abchurch-group.com www.abchurch-group.com
Notes to Editors
ATH Resources was listed on the AIM market of the London Stock Exchange in June 2004 and operates three surface coal mines in Scotland; Skares Road, in East Ayrshire, Glenmuckloch in Dumfries and Galloway and Muir Dean in Fife. The Group is currently one of the largest producers of coal in the UK producing approximately 2 million tonnes per annum. Coal is used to generate around a third of the UK's electricity and the Group holds coal supply contracts with four of the UK's main electricity generating companies.
Further information on ATH Resources can be found at www.ath.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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