News Archive

22 November 2007

Preliminary Results - Wednesday 5 December 2007

ATH Resources plc, one of the UK's largest coal producers, advises that it will be announcing its Preliminary Results for the year ended 30 September 2007 on Wednesday, 5 December 2007.

An analyst briefing given by David Port (Non-Executive Chairman), Tom Allchurch (Chief Executive) and Steven Beaumont (Finance Director), will be held at 09.30 am on Wednesday, 5 December 2007 at Abchurch Communications Ltd, 5th Floor, 100 Cannon Street, London, EC4N 6EU.

Notes to Editors

ATH Resources is an AIM-listed operator of opencast coal mines in the UK with its current three operational mines, Skares Road, Grievehill and Garleffan, located 8km from New Cumnock, East Ayrshire in Scotland. The Company is currently the third largest producer of coal in the UK producing approximately 1.7 million tonnes per annum. Coal was used to generate 37 per cent of the UK's electricity in 2006 and the Company holds coal supply contracts with four of the
UK's main electricity generating companies.

The management team has been in place since 1998. It acquired the rights to operate (and subsequently acquire) the Skares Road mine with support from The Alchemy Plan. Following ATH Resources' incorporation in October 2003, and backed by a follow on investment from The Alchemy Plan, the Company acquired the Garleffan mine in November 2003. ATH Resources listed on the AIM market of the London Stock Exchange in June 2004.

In June 2005, having raised £18 million by way of an Open Offer, the Group acquired two new opencast sites, Grievehill and Glenmuckloch in Scotland. The acquisition increased the Group's reserve base by 160% and provided longer term stability to the business.

In addition to its operating mines, the Company also has a number of other coal mining projects in Scotland and two through its French subsidiary, SRMMC including a series of six existing coal concessions in south-central France, covering an area of 36km, 2 with an estimated resource of approximately 4.5 million tonnes of recoverable coal.

In May 2006, the Group acquired Doncaster-based A Ogden & Sons Limited a successful coal recovery, land remediation and regeneration business with a particular focus on colliery spoil heap reclamation projects. ATH paid net £9.5 million for the business. The acquisition, which was earnings enhancing, allowed ATH to build on its skills as a regenerator of land, whilst developing strong relationships with key English planning authorities. The Company has been successfully integrated into the Group. The operational diversification that the acquisition brings to the Group will be a significant driver of ATH's organic growth going forward.

For the year ending 1 October 2006, the Group achieved turnover of £54.1 million, an increase of 38% on ATH's 2005 year end and EBITDA of £19.2 million, an increase of 68% on ATH's 2005 year end.

Further information on ATH Resources can be found at www.ath.co.uk