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Press release content from Accesswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Accesswire
Press release content from Accesswire. The AP news staff was not involved in its creation.

Anglo Pacific Group PLC Announces Interim Results for 6 Months Ended 30 June 2021

August 25, 2021 GMT

LONDON, UK / ACCESSWIRE / August 25, 2021 / Anglo Pacific Group PLC (‘Anglo Pacific’, the ‘Company’, the ‘Group’) (LSE:APF)(TSX:APY) is pleased to announce interim results for the six months ended 30 June 2021 which are available on both the Group’s website at www.anglopacificgroup.com and on SEDAR at www.SEDAR.com.

Following the transformational $205m Voisey’s Bay cobalt stream acquisition in March 2021 and the associated financing, the Company has determined that it is now appropriate to commence reporting results in US dollars rather than in British pounds. With four of the Group’s nine royalties being received in US dollars, the majority of Anglo Pacific’s revenue, and the remaining ones largely being based on US dollar prices but then converted to local currency, the Company feels now is the right time to transition its presentation currency to one that more appropriately reflects the underlying performance of the business and is in line with its peers.

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The change in presentation currency does not impact the underlying business nor dividends, in particular the previously announced interim dividends of 1.75p per share to be paid in November 2021, December 2021 and February 2022.

Results

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HY1 2021

HY1 2020

HY1 2021

HY1 2020

$m

YoY%

$m

£m

YoY%

£m

Kestrel

9.55

(37%)

15.10

6.88

(43%)

11.97

Voisey's Bay

3.12

-

-

2.25

-

-

Narrabri

1.15

(43%)

2.00

0.83

(48%)

1.59

Mantos Blancos

2.75

82%

1.51

1.98

65%

1.20

Maracás Menchen

1.46

484%

(0.38)

1.05

439%

(0.31)

Four Mile

0.10

(41%)

0.17

0.07

(46%)

0.13

Royalty and stream income

18.13

(1%)

18.40

13.06

(10%)

14.58

Dividends - LIORC & Flowstream

2.86

(1%)

2.89

2.06

(10%)

2.30

Interest - McClean Lake

1.23

10%

1.12

0.89

0%

0.89

Royalty and stream related revenue

22.22

(1%)

22.41

16.01

(10%)

17.77

EVBC*

1.59

34%

1.19

1.15

19%

0.97

Principal repayment - McClean Lake

-

(100%)

0.50

-

(100%)

0.40

Less:
Metal streams cost of sales

(0.77)

-

(0.55)

-

Total portfolio contribution

23.04

(4%)

24.10

16.61

(13%)

19.14

* Following the application of IFRS 9, the royalties received from EVBC are reflected in the fair value movement of the underlying royalty rather than recorded as royalty income.

Click on, or paste the following link into your web browser, to view the full announcement.

http://www.rns-pdf.londonstockexchange.com/rns/6832J_1-2021-8-25.pdf

For further information:

Anglo Pacific Group PLC

+44 (0) 20 3435 7400

Julian Treger - Chief Executive Officer Kevin Flynn - Chief Financial Officer Marc Bishop Lafleche - Chief Investment Officer

Website:

www.anglopacificgroup.com

Berenberg

+44 (0) 20 3207 7800

Matthew Armitt / Jennifer Wyllie / Varun Talwar / Detlir Elezi
Peel Hunt LLP

+44 (0) 20 7418 8900

Ross Allister / Alexander Allen / David McKeown
RBC Capital Markets Farid Dadashev / Marcus Jackson / Jamil Miah

+44 (0) 20 7653 4000

Camarco

+44 (0) 20 3757 4997

Gordon Poole / Owen Roberts / James Crothers

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Anglo Pacific Group PLC

View source version on accesswire.com:

https://www.accesswire.com/661262/Anglo-Pacific-Group-PLC-Announces-Interim-Results-for-6-Months-Ended-30-June-2021