21st Aug 2008 12:15
Atlantic Coal plc / Index: AIM / Epic: ATC / Sector: Mining
21 August 2008
Atlantic Coal Plc (AIM: ATC)
('Atlantic' or 'the Company')
Appointment of Fox-Davies Capital as Broker
Atlantic Coal plc, the AIM listed open cast coal production and processing company with activities in Pennsylvania, USA, announces it has appointed Fox Davies Capital, as its broker with immediate effect.
HB Corporate continues to act as nominated adviser for Atlantic.
Fox-Davies Capital is a Member of the London Stock Exchange and specialises in providing Corporate Finance advisory, broking and capital raising services to international resource companies. Fox-Davies provides its corporate clients with access to investors in the UK, European and North American capital markets and has an established track record with specialist resource investors.
Atlantic CEO Steve Best said, "We are delighted to appoint Fox-Davies Capital as Atlantic's broker. Fox-Davies' specialist skills in the mining sector and its wide-ranging relationships with resource investors in the UK and internationally, makes Fox-Davies an ideal addition to the advisory team that supports Atlantic."
***Ends***
Further information is available on Fox Davies Capital's website at: www.fdcap.com
For further information on the Company, visit: www.atlanticcoal.com
or contact:
|
Stephen Best / Toby Howell /Greg Kuenzel |
Atlantic Coal plc |
Tel: 020 7182 1747 |
|
Rod Venables / James Reeve |
HB Corporate |
Tel: 020 7510 8600 |
|
Richard Hail, Head of Corporate Finance |
Fox Davies Capital |
Tel 020 7936 5230 |
|
Hugo de Salis / Victoria Thomas |
St Brides Media & Finance Ltd |
Tel: 020 7236 1177 |
About the Company:
Atlantic Coal owns and operates the Stockton Colliery which comprises an opencast anthracite mine and an adjacent anthracite washing plant. The mine is an established non-union surface mine encompassing circa 900 land acres in the Hazle Creek Valley, Pennsylvania and has an estimated proven reserve of 4 million tonnes. Mining of raw coal is from the high quality mammoth seam, while washing and sizing takes place in the 150 tonne per hour coal preparation plant. J T Boyd Company, the Company's Competent Person, estimated that there is over 10 years of mine life from existing reserves at an average production rate of 400,000 Run of Mine ('ROM') tonnes per annum. Based on historic production levels, the mine is capable of and is projected to produce approximately 450,000 ROM tonnes of coal per year. Mining operations are conducted by the use of hydraulic excavators. Uncovered raw coal is then loaded into 100 tonne trucks for delivery to the onsite preparation plant. As each section of the mine is developed, mining progresses from the northern and southern faces into the basin. This yields a constant flow of raw coal to the preparation plant.
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