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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Ecora Resources Plc | LSE:ECOR | London | Ordinary Share | GB0006449366 | ORD 2P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1.20 | 1.41% | 86.60 | 86.80 | 87.00 | 87.20 | 85.40 | 86.00 | 481,431 | 16:35:13 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Coal,oth Minerals,ores-whsl | 61.9M | 847k | 0.0033 | 263.03 | 223.82M |
From May 2019 to May 2024
By Alex MacDonald
LONDON--Anglo Pacific Group PLC (APF.LN) Wednesday reported a narrowed first-half net loss, reflecting higher income from mining royalties and said it expects to receive even more royalties in the second half as it continues to benefit from its investment in the Narrabri and Maracas mines.
Total royalty income rose 48% to GBP3.8 million ($6 million) in the first half, eclipsing the GBP3.5 million in royalties received in all of 2014. The company said it benefited from first royalty receipts at the Australian Narrabri coal mine investment and Brazilian Maracas Vanadium mine investment.
This contributed to an increase in operating profit to GBP0.6 million in the first half compared with GBP0.3 million in the same period a year before, helping narrow the company's net loss to GBP8.8 million from GBP23 million in the period.
The bottom line was still weighed down by a series of royalty-related impairments during the period, albeit less than the year before, and loss from the sale of mining and exploration interests.
Looking ahead, the company's Chief Executive Julian Treger said the remainder of 2015 is encouraging, with Narrabri running significantly ahead of its production estimates and Rio Tinto PLC (RIO) planning to meet 70% to 75% of its second half coal production target from its Australian Kestrel mine with coal extracted from Anglo Pacific's land.
"Both outcomes should allow us to report much higher royalty income for 2015 as a whole, despite the fall in commodity prices experienced in the year to date," said Mr. Treger.
The company declared an interim dividend of four pence a share, down from 4.45 pence a share last year, but in line with its annual dividend policy of eight pence share. The company had net cash of GBP1.2 million as of the end of June.
-Write to Alex MacDonald at alex.macdonald@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
August 26, 2015 03:50 ET (07:50 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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