LONDON, Jan. 12 /CNW/ - Anglo Pacific Group plc ("Anglo Pacific") (LSE:
APF) (TSX: APY) is pleased to announce that, subsequent to the signing
of an MOU on July 27, 2010, it has now completed the Royalty Option
Agreement with Horizonte Minerals plc ("Horizonte") (AIM: HZM) for
Anglo Pacific to purchase a Net Smelter Royalty ("NSR") on all revenues
from the advanced exploration stage Araguaia and Lontra Nickel Projects
("Araguaia Project") in Brazil.
Anglo Pacific has paid to Horizonte the sum of US$500,000 in exchange
for the six year option to acquire a 1.5% NSR from the Araguaia Project
for US$12.5 million.
The NSR will be at a rate of 1.5% on production up to 30,000tpa -
reduced by 0.02% for every 1,000 tpa above this rate of production, but
never reducing below 1.1%. The NSR will be payable on all revenue from
the Araguaia Project (defined by licence areas).
Anglo Pacific Group PLC is a global natural resources royalties company.
The strategy of the Group is to expand its mineral royalty interests in
low-cost, long-life mining assets. The Group achieves this through both
direct acquisition and investment in projects at the development and
production stage. It is a continuing policy of the Group to pay a
substantial proportion of these royalties to shareholders as dividends.
This news release contains forward-looking statements based on
assumptions and reflects Anglo Pacific's expectations, estimates and
projections of future events as of the date of this release.
Forward-looking statements include, without limitation, statements
regarding the performance, prospects, opportunities, priorities,
targets, goals, objectives, strategies, growth and outlook of Anglo
Pacific. Often, but not always, forward-looking statements can be
identified by the use of words such as "expects", "anticipates",
"plans", "believes", "estimates", "seeks", "intends", "targets",
"projects", "forecasts", or variations (including negative variations)
of such words and phrases, or state that certain actions, events or
results "may", "could", "would", "might" or "will" be taken, occur or
Forward-looking statements are based upon certain material factors and
assumptions that were applied in drawing a conclusion or making a
forecast or projection, including assumptions and analyses made by
Anglo Pacific in light of its experience and perception of historical
trends, current conditions and expected future developments, as well as
other factors that are believed to be appropriate in the circumstances.
Also, forward-looking statements involve known and unknown risks,
uncertainties and other factors that are beyond the Company's control
and which may cause the actual results, performance or achievement to
be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements.
Such material factors and assumptions and risks and uncertainties
include, among others, those described in the Company's annual
information form dated as at June 29, 2010 (available on Anglo
Pacific's website and at www.sedar.com), which are incorporated by
reference into this release and qualify any and all forward-looking
statements made in this release.
Although Anglo Pacific has attempted to identify factors that could
cause actual actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors
that cause actions, events or results to differ from those anticipated,
estimated or intended. There can be no assurance that actual results
will be consistent with these forward-looking statements. Accordingly,
readers should not place undue reliance on forward-looking statements.
The forward-looking statements herein relate only to events or
information as of the date on which the statements are made and, except
as specifically required by law, Anglo Pacific undertakes no obligation
to update or revise any forward-looking statements, whether as a result
of new information, estimates or opinions, future events or results or
SOURCE Anglo Pacific Group PLC
For further information:
|Anglo Pacific Group PLC || || || || || ||+44 (0) 20 7318 6360|
|Peter Boycott, Chairman |
John Theobald, Chief Executive Officer
| || || || || || |
|Liberum Capital || || || || || ||+44 (0) 20 3100 2000|
|Chris Bowman |
| || || || || || |
|Scott Harris || || || || || ||+44 (0) 20 7653 0030|
|Stephen Scott |
| || || || || || |
|Website: || || || || || ||www.anglopacificgroup.com|