ATH Ath Resources

TIDMATH

RNS Number : 9878D

ATH Resources plc

24 May 2012

24 May 2012

ATH Resources plc

("The Company")

Trading Update

ATH Resources plc (AIM:ATH), one of the UK's largest coal producers, today announces that following a further fall in the International price of coal, it has taken a decision to defer commencement of the planned Glenmuckloch Eastern extension. Whilst demand for coal generally remains strong, international coal prices have fallen significantly over the past nine months and in particular over the past few months. The Board will review the investment case to either proceed or begin final restoration of the current site towards the end of this calendar year. The deferment will have little impact on production levels in the current financial year but, if ultimately a decision was made not to proceed with the site at all, volumes would be reduced by approximately 500,000 tonnes in total over the subsequent two years.

Reduced coal prices also continue to impact on the Company's margins and this will result in further reductions to the Board's expectations of trading performance. The Company will update the market more fully on the impact of the continuing fall in the International price of coal, together with any mitigating actions it is taking in its Interim statement scheduled for release in late June.

-ENDS-

 
 For further information: 
 
 ATH Resources plc 
 David Port, Executive Chairman              Tel: +44 (0) 7836 693798 
 Alistair Black, Chief Executive             Tel: +44 (0) 1302 760 462 
                                             www.ath.co.uk 
 
 Seymour Pierce Ltd 
 Sarah Jacobs / Stewart Dickson (Nominated 
  Adviser) 
 Richard Redmayne / Katie Ratner (Broker)    Tel: +44 (0) 207 107 8000 
                                             www.seymourpierce.com 
 
 Media enquiries: 
 Hudson Sandler 
 Andrew Leach / Charlie Jack / Katie         Tel: +44 (0) 207 796 4133 
  Matthews 
                                             kmatthews@hudsonsandler.com 
                                             www.hudsonsandler.com 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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