Anglo Pacific Group PLC Q1 2017 Trading Update

LONDON, UNITED KINGDOM--(Marketwired - May 10, 2017) -Anglo Pacific Group PLC (LSE: APF) (TSX: APY)

(LSE: APF; TSX: APY)

May 10, 2017

Anglo Pacific Group PLC
Q1 2017 Trading Update

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014 (AS AMENDED)

Anglo Pacific Group PLC ("Anglo Pacific", the "Company" or the "Group") (LSE: APF; TSX: APY), the London and Toronto listed royalty company, issues the following trading update for the period January 1, 2017 to May 10, 2017. Unless otherwise stated, all unaudited financial information is for the quarter ended March 31, 2017.

Highlights

• Total free cash flow generated in the period of ?13.4m, up from ?3.3m in Q1 2016
• Total contribution of ?10.0m
  -- Royalty income of ?7.5m in Q1 2017 - a 295% increase on Q1 2016 of ?1.9m
  -- Additional contribution of ?2.5m (C$4.0m) from the Denison financing and streaming agreement entered into in February 2017¹
• Increase in income from Q1 2016 mainly due to a 130% increase in average coal price achieved at Kestrel and a 56% increase at Narrabri
• Significant increase in revenue from Marac??s Menchen in the period to ?0.4m from ?0.1m in Q1 2016 as a result of recent record operational performance and a near doubling in the vanadium price
• Net debt at March 31, 2017 of ?6.5m, post the funding of the Denison financing and streaming agreement and 2016 interim dividend with expectation to be debt free by mid-2017
• Outlook for 2017 has improved considerably following the sustained increase in coking coal prices above the levels anticipated at the beginning of the year due to weather related supply disruptions in Australia

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