LONDON, UNITED KINGDOM--(Marketwire - March 28, 2013) - Anglo Pacific Group PLC (the "Company") (APF.L)(APY.TO) announces the publication of its Annual Report and Accounts for the year ended December 31, 2012 (the "Annual Report 2012") on the Company's website, www.anglopacificgroup.com.
A hard copy version of the Annual Report 2012, will be sent to those shareholders who have elected to continue to receive paper communications on or about April 15, 2013. Shareholders who have not elected to continue to receive paper communications, will be sent a notification of the availability of this document on the Company's website by post or, where they have elected, by email. The document will also be available through the National Storage Mechanism at www.hemscott.com/nsm.do and through SEDAR at www.sedar.com.
Appendix A to this announcement contains a description of the principal risks and uncertainties affecting the Company and a responsibility statement. This information should be read in conjunction with the Company's preliminary results announcement released on February 13, 2013, which included a condensed set of the Company's financial statements and information on important events that have occurred during the financial year and their impact on the financial statements.
Notes to editors:
About Anglo Pacific Group PLC
Anglo Pacific Group PLC is a global natural resources royalties company. The Company's strategy is to expand its mineral royalty interests in long-life mining assets. The Company achieves this through both direct acquisition and investment in projects at the development and production stage. It is a continuing policy of the Company to pay a substantial proportion of these royalties to shareholders as dividends.
The information set out below, which is extracted from the Annual Report 2012, together with the information contained in the preliminary results announcement released on February 13, 2013, constitutes the material required by the Disclosure and Transparency Rules to be communicated to the media in full unedited text through a Regulatory Information Service. This announcement is not a substitute for reading the full Annual Report 2012. Cross references in the text below refer to pages and sections in the Annual Report 2012.
Principal risks and uncertainties
"In addition to normal business risks and the strategic risks set out in the Our Strategy section on page 3, the Board has identified, inter alia, four main macro-economic risks that could affect the Group's performance:-
- A prolonged, world-wide economic recession
- Sustained low commodity prices
- A fall in precious metal prices
- Currency volatility
Measures taken by the Board to manage these risks include:-
- Regular mining project management meetings and discussions
- Regular documented project review meetings
- Substantial cash holdings
- A diversified portfolio of projects covering a number of commodities and geographical areas
- Substantial exposure to gold and other precious metals
- Regular review of sovereign risk
- Cash being held at a number of banks and stockbrokers in a variety of currencies and short term financial instruments
The Board is also aware of the need for succession planning and the associated risks to the Group are under constant review. Further appointments will be made to the Board as required."
Directors' responsibility statement
"Each of the Directors, whose names and functions are listed in the management section of the Directors' Report confirm that, to the best of each person's knowledge and belief:
- the financial statements, prepared in accordance with IFRSs as adopted by the EU, give a true and fair view of the assets, liabilities, financial position and profit of the Group and Company; and
- the Directors' Report contained in the Annual Report includes a fair review of the development and performance of the business and the position of the Company and Group, together with a description of the principal risks and uncertainties that they face.
By order of the Board
B.M. Wides, Acting Chairman
March 27, 2013"
This news release contains forward-looking statements based on assumptions and reflects Anglo Pacific Group PLC's expectations, estimates and projections of future events as of the date of this release. Forward-looking statements include, without limitation, statements regarding the performance, prospects, opportunities, priorities, targets, goals, objectives, strategies, growth and outlook of Anglo Pacific Group PLC. Often, but not always, forward-looking statements can be identified by the use of words such as "expects", "anticipates", "plans", "believes", "estimates", "seeks", "intends", "targets", "projects", "forecasts", or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements are based upon certain material factors and assumptions that were applied in drawing a conclusion or making a forecast or projection, including assumptions and analyses made by Anglo Pacific Group PLC in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that are believed to be appropriate in the circumstances. Also, forward-looking statements involve known and unknown risks, uncertainties and other factors that are beyond the Company's control and which may cause the actual results, performance or achievement to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such material factors and assumptions and risks and uncertainties include, among others, those described in the Company's annual information form dated as at June 29, 2010 (available on Anglo Pacific Group PLC's website and at www.sedar.com), which are incorporated by reference into this release and qualify any and all forward-looking statements made in this release.
Although Anglo Pacific Group PLC has attempted to identify factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that actual results will be consistent with these forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements herein relate only to events or information as of the date on which the statements are made and, except as specifically required by law, Anglo Pacific Group PLC undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise.