5th Feb 2009 08:00
Atlantic Coal plc / Index: AIM / Epic: ATC / Sector: Mining
05 February 2009
Atlantic Coal plc ('Atlantic' or 'the Company')
Holdings in Company
Atlantic Coal was informed on 4 February 2009 that on 3 February 2009, Allianz SE disposed of 76,173,000 ordinary shares in the Company. As a result of the transaction, Allianz SE no longer holds a notifiable interest in the Company.
***Ends***
For further information on the Company, visit: www.atlanticcoal.com or contact:
|
Stephen Best / Greg Kuenzel |
Atlantic Coal plc |
Tel: 020 7182 1747 |
|
Rod Venables / James Reeve |
HB Corporate |
Tel: 020 7510 8600 |
|
Daniel Fox-Davies |
Fox Davies Capital |
Tel 020 7936 5230 |
|
Hugo de Salis / Victoria Thomas |
St Brides Media & Finance |
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.
Related Shares:
Atlantic Coal